1. A method of optimizing a configuration of a pick-and-place machine comprising a plurality of placement devices, said configuration comprising a series of instructions that direct each placement device to pick up one of a plurality of electronic components at one of a plurality of feeders and place the component at a designated location on a substrate, said method comprising: (a) creating an initial population of possible configurations to be a first generation, (b) estimating cycle time for each possible configuration and selecting the possible configuration having a lowest estimated cycle time as an optimum configuration; (c) creating a next generation of possible configurations by selecting possible configurations from the prior generation; (d) randomly mutating instructions of the possible configurations of the next generation; (e) estimating cycle time for each possible configuration of the next population, (f) comparing the cycle time of the possible configuration of the next generation having the lowest cycle time and the cycle time of the optimum configuration, and selecting the possible configuration having the lower cycle time as the optimum configuration; (g) repeating steps (c) through (g); and (h) selecting the optimum configuration for use in operating the pick-and-place machine.