Heuristic Genetic Algorithm for Product Portfolio Planning

Heuristic Genetic Algorithm for Product Portfolio Planning

Jianxin Jiao (Nanyang Technological University, Singapore), Yiyang Zhang (Nanyang Technological University, Singapore) and Yi Wang (Nanyang Technological University, Singapore)
Copyright: © 2006 |Pages: 16
DOI: 10.4018/978-1-59140-702-7.ch004
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Abstract

This chapter applies the Genetic Algorithm to help manufacturing companies plan their product portfolio. Product portfolio planning (PPP) is a critical decision faced by companies across industries and is very important in helping manufacturing companies keep their competitive advantage. PPP has been classified as a combinatorial optimization problem, in that each company strives for the optimality of its product offerings through various combinations of products and/or attribute levels. Towards this end, this chapter develops a heuristic genetic algorithm (HGA) for solving the PPP problem. The objective of this chapter is to develop a practical method that can find near optimal solutions and assist marketing managers in product portfolio decision-making.

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