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Economic Design of Moving Average Control Charts

Summary: [This abstract is based on the authors' abstract.]Many have studied the design of various control charts from an economical viewpoint, but few have attempted the economic design of a moving average (MA) control chart. An economic model is proposed to determine the optimal parameters of an MA control chart. The proposed chart has a lower loss cost than the conventional MA chart. A sensitivity analysis shows that the magnitude of shift, increasing cost when the process is out of control, and the rate of occurrence of assignable causes have a significant effect on loss cost calculation.

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  • Topics:
  • Keywords: Cost management,Design of control charts,Moving average chart,Parameters
  • Author: Yu, Fong-Jung; Chen, Yun-Shiow
  • Journal: Quality Engineering