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A New Hybrid Firefly – Genetic Algorithm for the Optimal Product Line Design Problem

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Learning and Intelligent Optimization (LION 2019)

Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 11968))

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Abstract

The optimal product line design is one of the most critical decisions for a firm to stay competitive, since it is related to the sustainability and profitability of a company. It is classified as an NP-hard problem since no algorithm can certify in polynomial time that the optimum it identifies is the overall optimum of the problem. The focus of this research is to propose a new hybrid optimization method (FAGA) combining Firefly algorithm (FA) and Genetic algorithm (GA). The proposed hybrid method is applied to the product line design problem and its performance is compared to those of previous approaches, like genetic algorithm (GA) and simulated annealing (SA), by using both actual and artificial consumer-related data preferences for specific products. The comparison results demonstrate that the proposed hybrid method is superior to both genetic algorithm and simulated annealing in terms of accuracy, efficiency and convergence speed.

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Acknowledgments

This research is co-financed by Greece and the European Union (European Social Fund- ESF) through the Operational Programme «Human Resources Development, Education and Lifelong Learning» in the context of the project “Strengthening Human Resources Research Potential via Doctorate Research” (MIS-5000432), implemented by the State Scholarships Foundation (ΙΚΥ).

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Authors and Affiliations

  1. School of Production Engineering and Management, Technical University of Crete, Chania, Greece

    Konstantinos Zervoudakis, Stelios Tsafarakis & Sovatzidi Paraskevi-Panagiota

Authors
  1. Konstantinos Zervoudakis
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  2. Stelios Tsafarakis
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  3. Sovatzidi Paraskevi-Panagiota
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Correspondence to Konstantinos Zervoudakis .

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Editors and Affiliations

  1. Technical University of Crete, Chania, Greece

    Nikolaos F. Matsatsinis

  2. Technical University of Crete, Chania, Greece

    Yannis Marinakis

  3. Department of Industrial and Systems Engineering, University of Florida, Gainesville, FL, USA

    Panos Pardalos

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Zervoudakis, K., Tsafarakis, S., Paraskevi-Panagiota, S. (2020). A New Hybrid Firefly – Genetic Algorithm for the Optimal Product Line Design Problem. In: Matsatsinis, N., Marinakis, Y., Pardalos, P. (eds) Learning and Intelligent Optimization. LION 2019. Lecture Notes in Computer Science(), vol 11968. Springer, Cham. https://doi.org/10.1007/978-3-030-38629-0_23

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