Velocity is a revenue management solution to forecast capacity, show-up rate and demand while optimising overbooking, allotment and bid prices.
It is complemented by AcceleRate, which offers dynamic pricing decision support considering factors such as competition, customer value, price elasticity and costs to recommend dynamic prices, alongside managing rating and rate sheet information.
The two solutions work together to enhance efficiency for Saudia Cargo.
Foresight is a revenue planning and sales budgeting solution taking into account schedules, capacity, demand, routes, equipment characteristics and shipment details to set annual revenue targets and sales objectives.
It also helps design freighter and truck schedules based on split demand, ensuring comprehensive planning and optimisation across the organisation.
Implementation comprised of two phases, each focused on the development of advanced Artificial Intelligence (AI) and Machine Learning (ML) techniques.
The solutions were tailored to enhance air cargo revenue management processes, covering forecasting capacity, overbooking optimisation, O&D based on demand forecasting and allotment optimisation.
They also address pricing challenges including dynamic pricing, upsell and cross-sell offers, rating engine refinement and network optimisation.
Saudia Cargo worked with RTS to optimise long-term schedules and the solutions were tested rigorously to ensure they were suitable for business requirements.
Mansour Alasmi, Vice President of Network and Revenue Management at Saudia Cargo, says, “With RTS's cutting-edge solutions Velocity, AcceleRate and Foresight seamlessly integrated into our operations, we're empowered to make data-driven pricing decisions. This collaboration exemplifies our commitment to leveraging the latest technologies to drive strategic initiatives, cementing our position as leaders in the industry.”
Mukundh Parthasarathy, Head of Cargo Solutions at RTS, adds, “Our vision of an end-to-end decision support solution suite for cargo has been realised with Saudia Cargo with Velocity, Foresight and AcceleRate. The thought leadership shown at Saudia Cargo is something for the aviation industry to look up to and we are glad that RTS is the chosen partner in this journey.”