The major challenge in printable electronics fabrication is to effectively and accurately control a drop-on-demand (DoD) inkjet printhead for high printing quality. In this work, an optimal prediction model, constructed with the lumped element modeling (LEM) and the artificial bee colony (ABC) algorithm, was proposed to efficiently predict the combination of waveform parameters for obtaining the desired droplet properties. For acquiring higher simulation accuracy, a modified dynamic lumped element model (DLEM) was proposed with time-varying equivalent circuits, which can characterize the nonlinear behaviors of piezoelectric printhead. The proposed method was then applied to investigate the influences of various waveform parameters on droplet volume and velocity of nano-silver ink, and to predict the printing quality using nano-silver ink. Experimental results show that, compared with two-dimension manual search, the proposed optimal prediction model perform efficiently and accurately in searching the appropriate combination of waveform parameters for printable electronics fabrication.