Abstract
Many companies emphasize on developing new products by adding or removing specific features from existing products according to customers’ demands or priorities. In this paper, an optimization-based procedure is proposed to depict how efficiently the same can be performed by conducting surveys among probable customers. This proposed optimization method is capable of solving selection-based problems in consent with customers’ priority and is aptly termed as the Product Priority Problem (PPP). Limiting the selection of features based upon their integrity and dis-integrity, maximization of customers’ satisfaction and minimization of a product’s price is considered as two conflicting objective functions to lead to a set of trade-off solutions that can be adopted by a company for new products to be developed.
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Sarmah, S., Datta, D. (2021). Product Priority Problem: A Multi-objective Optimization Approach for Product Development Based on Customers’ Priority. In: Das, B., Patgiri, R., Bandyopadhyay, S., Balas, V.E. (eds) Modeling, Simulation and Optimization. Smart Innovation, Systems and Technologies, vol 206. Springer, Singapore. https://doi.org/10.1007/978-981-15-9829-6_8
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DOI: https://doi.org/10.1007/978-981-15-9829-6_8
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