Morphological matrices (MMs) have traditionally been used to generate concepts by combining different means. However, exploring the vast design space resulting from the combinatorial explosion of large MMs is challenging. Additionally, all alternative means are not necessarily compatible with each other. At the same time, for a system to achieve long-term success, it is necessary for it to be flexible such that it can easily be changed. Attaining high system flexibility necessitates an elevated compatibility with alternative means of achieving system functions, which further complicates the design space exploration process. To that end, we present an approach that we refer to as multi-objective technology assortment combinatorics. It uses a shortest-path algorithm to rapidly converge to a set of promising design candidates. While this approach can take flexibility into account, it can also consider other quantifiable objectives such as the cost and performance of the system. The efficiency of this approach is demonstrated with a case study from the automotive industry.