________ refers to the characteristics of the product and is the way through which firms improve the quality of their offerings over time (usually by means of innovation).
a. Product differentiation
b. Augmented product
c. Core product
d. Product development
a. Product differentiation
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In all the excitement of waving to the longshoremen as the ship leaves the Port of New Orleans, the management scientist drops his wallet in the Mississippi River. Rather than maximize enjoyment for the three excursions,
he must now adjust his model to select three inexpensive options. Which combinations of objective function and constraints are best if the scheme of location (J, C, or G) and excursion (S, P, H, L, Te or Tu) is used to represent the decision variables? A) Min Z = 100JS + 95JP + 120JH + 60JL + 110CS + 55CP + 70CH + 90CL + 130CTe + 90GS + 60GP + 110GH + 130GL + 95GTu subject to: JS + JP + JH + JL = 1 CS + CP + CH + CL + CTe = 1 GS + GP + GH + GL + GTu = 1 B) Min Z = 100JS + 95JP + 120JH + 60JL + 110CS + 55CP + 70CH + 90CL + 130CTe + 90GS + 60GP + 110GH + 130GL + 95GTu subject to: JS + JP + JH + JL ? 1 CS + CP + CH + CL + CTe ? 1 GS + GP + GH + GL + GTu ? 1 C) Min Z = 100JS + 95JP + 120JH + 60JL + 110CS + 55CP + 70CH + 90CL + 130CTe + 90GS + 60GP + 110GH + 130GL + 95GTu JS + CS + GS ?1 JP + CP + GP ?1 JH + CH + GH ?1 JL + CL + GL ?1 D) Min Z = 100JS + 95JP + 120JH + 60JL + 110CS + 55CP + 70CH + 90CL + 130CTe + 90GS + 60GP + 110GH + 130GL + 95GTu JS + JP + JH + JL + CS + CP + CH + CL + CTe + GS + GP + GH + GL + GTu = 3
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A) maximizing the value of wasted capacity and the cost of capacity shortage. B) maximizing supply chain profits. C) minimizing the cost of wasted capacity and the cost of capacity shortage. D) minimizing the cost of wasted capacity and minimizing capacity shortages.