Modeling and optimization of product design and portfolio management interface

The paper presents modeling and analysis of product design and product portfolio management (PD–PM) domains interaction using an integrated simulation–optimization model. To represent the interactions, the product design phase is modeled as a discrete-scenario static system. The goal of this work is to develop a decision support framework that relies on product design–product portfolio management integration in order to aid product design planning and design execution. We utilize dependency matrix approach to illustrate domain relation between the product design and product portfolio management domains, and to facilitate their integration. Hence, the process integration model utilizes iterative effects, and their attendant processing duration and costs, to pattern domain interaction. An industrial case study is used to illustrate the application and utility of the proposed approach. © 2011 Elsevier Ltd. All rights reserved.