Product portfolio optimization based on substitution

Anna Myrodia, Alexandria Lee Trattner, Lars Hvam

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

The development of production capabilities has led to proliferation of the product variety offered to the customer. Yet this fact does not directly imply increase of manufacturers' profitability, nor customers' satisfaction. Consequently, recent research focuses on portfolio optimization through substitution and standardization techniques. However when re-defining the strategic market decisions are characterized by uncertainty due to several parameters. In this study, by using a GAMS optimization model we present a method for supporting strategic decisions on substitution, by quantifying the impact of those parameters. Empirical evidence supplements the research, where a case study from an industry company producing construction material demonstrates the results.
Original languageEnglish
Title of host publicationPorceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)
PublisherIEEE
Publication date2017
Pages1651-1655
ISBN (Electronic)978-1-5386-0948-4
DOIs
Publication statusPublished - 2017
Event2017 International Conference on Industrial Engineering and Engineering Management (IEEM) - SUNTEC Singapore, Suntec City, Singapore
Duration: 10 Dec 201713 Dec 2017
http://www.ieem.org

Conference

Conference2017 International Conference on Industrial Engineering and Engineering Management (IEEM)
LocationSUNTEC Singapore
CountrySingapore
CitySuntec City
Period10/12/201713/12/2017
Internet address

Cite this

Myrodia, A., Trattner, A. L., & Hvam, L. (2017). Product portfolio optimization based on substitution. In Porceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 1651-1655). IEEE. https://doi.org/10.1109/IEEM.2017.8290173
Myrodia, Anna ; Trattner, Alexandria Lee ; Hvam, Lars. / Product portfolio optimization based on substitution. Porceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2017. pp. 1651-1655
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Myrodia, A, Trattner, AL & Hvam, L 2017, Product portfolio optimization based on substitution. in Porceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, pp. 1651-1655, 2017 International Conference on Industrial Engineering and Engineering Management (IEEM), Suntec City, Singapore, 10/12/2017. https://doi.org/10.1109/IEEM.2017.8290173

Product portfolio optimization based on substitution. / Myrodia, Anna; Trattner, Alexandria Lee; Hvam, Lars.

Porceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2017. p. 1651-1655.

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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Myrodia A, Trattner AL, Hvam L. Product portfolio optimization based on substitution. In Porceedings of 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE. 2017. p. 1651-1655 https://doi.org/10.1109/IEEM.2017.8290173