Economic control chart policies for monitoring variables

Erwin Saniga, Thomas McWilliams, Darwin Davis and James Lucas

International Journal of Productivity and Quality Management, 2006, vol. 1, issue 1/2, 116-138

Abstract: In this paper, we compare the costs of an economically designed CUSUM control chart and a common Shewhart control chart, the X–bar chart for many configurations of parameters. Our results indicate that there are identifiable regions where there is an overwhelming cost advantage to using CUSUM charts. Additionally, we find that there are identifiable regions where an X–bar chart can be employed without any substantial economic disadvantage. Finally, we identify regions where a regular search policy is less costly than a policy of using either a CUSUM or X–bar chart.

Keywords: control charts; CUSUM charts; economic design; Shewhart charts; control chart design; statistical process control; SPC; process monitoring; process quality. (search for similar items in EconPapers)
Date: 2006
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