What is Yield Management?
Yield management is a variable strategy, based on understanding, anticipating and influencing behaviour in order to maximise revenue or profits from a fixed, time-limited resource.
Other wise known as covers per time slot.
Why and how do we use it?
This section allows you to manage the amount of covers/bookings that can be booked at any particular time slot so you can be rest assured that maximum covers are booked without adversely effecting the quality of your service.
In Settings>Table Management>Services>Choose Segment>Choose Service> you can apply the following;
1. Apply different rules dependent on segment
2. Run simultaneous Cover and Booking Rules.
3. Apply different values to each
> Time Slot
> Day+Time Slot
Here you can set your maximum covers according to your interval times.
In this example the covers are set to 15 covers every 15 minutes, you can also change this to number of bookings every 15 minutes and also number of covers and number of bookings.
You may wish to take less covers depending on the day of the week and per time slot, this can be done by clicking the toggles under actions;
Here you can adjust the day variables to less than what is set on the previous page, for example if you wish to take less covers on on a Friday and Saturday at key booking times please see below. (We recommend an hour glass effect so as not to cause an impact on the ambience/atmosphere within your venue)