The search for new alloys with enhanced properties and functionality and their subsequent optimization has been an ongoing pursuit of the materials discipline for many decades. In principle, alloy design is a multi-objective optimization problem with a very large number of objectives and constraints. Recent advances in theory, computation and materials data analytics have advanced our ability to predict basic thermodynamic and kinetic properties of materials, dramatically altering and accelerating the early-stage search process. However, the well-known, but poorly characterized, linkages between structure, properties and processing still represent a major barrier. High throughput experimental approaches show promise, but require much further development and automation for acquisition of structure-sensitive properties. Examples of the evolution of alloy design approaches will be presented along with future challenges and gaps that need to be addressed.