Publication | Closed Access
The Economic Design of Cumulative Sum Control Charts
124
Citations
10
References
1968
Year
EngineeringIndustrial EngineeringControl ChartsDynamic EconomicsOperations ResearchComputational EconomicsEconomic AnalysisSystems EngineeringStatisticsQuantitative ManagementMathematical EconomicsEconomicsCumulative Sum ChartQuality ControlSupply Chain ManagementProduction ControlFinanceControl Chart ParametersProduction PlanningProcess ControlEconometricsManufacturing ProcessBusinessEconomic DesignIndustrial Process ControlMicroeconomics
The cumulative sum chart for controlling the mean of a manufacturing process having normally distributed quality with known variance is studied. The costs of repairing the process, of operating out-of-control, and of maintaining the chart are assumed known. A formula giving approximately the long-run time average cost of operation as a function of the control chart parameters is given. Some rules of thumb for choosing these parameters are also suggested.
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