Optimal Product Portfolio Design by Means of Semi-infinite Programming

Helene Krieg (), Jan Schwientek, Dimitri Nowak and Karl-Heinz Küfer
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Helene Krieg: Fraunhofer ITWM
Jan Schwientek: Fraunhofer ITWM
Dimitri Nowak: Fraunhofer ITWM
Karl-Heinz Küfer: Fraunhofer ITWM

A chapter in Operations Research Proceedings 2019, 2020, pp 489-495 from Springer

Abstract: Abstract A new type of product portfolio design task where the products are identified with geometrical objects representing the efficiency of a product, is introduced. The sizes and shapes of these objects are determined by multiple constraints whose activity cannot be easily predicted. Hence, a discretization of the parameter spaces could obfuscate some advantageous portfolio configurations. Therefore, the classical optimal product portfolio problem is not suitable for this task. As a new mathematical formulation, the continuous set covering problem is presented which transfers into a semi-infinite optimization problem (SIP). A solution approach combining adaptive discretization of the infinite index set with regularization of the non-smooth constraint function is suggested. Numerical examples based on questions from pump industry show that the approach is capable to work with real-world applications.

Keywords: Product portfolio design; Continuous set covering problem; Optimization of technical product portfolios (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-030-48439-2_59

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DOI: 10.1007/978-3-030-48439-2_59

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