This paper addresses a highly challenging scheduling problem in the field of printed circuit board (PCB) assembly systems using Surface Mounting Devices (SMD). After describing some challenging optimization sub-problems relating to the heads of multi-head surface mounting placement machines, we formulate an integrated multi-objective mathematical model considering of two main sub-problems simultaneously. The proposed model is a mixed integer nonlinear programming one which is very complex to be solved optimally. Therefore, it is first converted into a linearized model and then solved using an efficient multi-objective approach, i.e., the augmented epsilon constraint method. An illustrative example is also provided to show the usefulness and applicability of the proposed model and solution method.