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The component pick-and-place sequence is one of the key factors to affect the working efficiency of the surface mounting machine in the printed circuit board assembly. In this paper, an improved Shuffled Frog-leaping Algorithm was presented by improving the basic Shuffled Frog-leaping Algorithm (SFLA) with the strategy of letting all frogs taking part in memetic evolution and adding the self-variation behavior to the frog. The objective function of component pick-and-place sequence of the gantry multi-head component surface mounting machine was established. Parameters selection is critical for SFLA. In this study, Three-way ANOVA was used in parameters analyzing of the new improved SFLA. The parameters like memeplex numbers m, the frogs' number P and local evolution numbers iPart were found having notable effects on the mounting time (time spent for components picking and placing), but the interactions among these parameters were not obvious. Multiple comparison procedures were adopted to determine the best parameter settings. In order to test the performance of the new algorithm, several experiments were carried out to compare the performance of improved SFLA with the basic SFLA and the genetic algorithm (GA) in solving the component pick-and-place sequence optimization problems. The experiment results indicate that improved SFLA can solve the optimization problem efficiently and outperforms SFLA and GA in terms of convergence accuracy, although more CPU time is undeniably needed. [ABSTRACT FROM AUTHOR]