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Control charts: a cost‐optimization approach for processes with random shifts

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  • András Zempléni
  • Miklós Véber
  • Belmiro Duarte
  • Pedro Saraiva

Abstract

In this paper we describe an approach for establishing control limits and sampling times which derives from economic performance criteria and a model for random shifts. The total cost related to both production and control is calculated, based on cost estimates for false alarms, for not identifying a true out of control situation, and for obtaining a data record through sampling. We describe the complete process for applying the method and compare with conventional procedures to real data from a Portuguese pulp and paper industrial plant. It turns out that substantial cost‐reductions may be obtained. Copyright © 2004 John Wiley & Sons, Ltd.

Suggested Citation

  • András Zempléni & Miklós Véber & Belmiro Duarte & Pedro Saraiva, 2004. "Control charts: a cost‐optimization approach for processes with random shifts," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 20(3), pages 185-200, July.
    • Handle: RePEc:wly:apsmbi:v:20:y:2004:i:3:p:185-200
    DOI: 10.1002/asmb.521
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    Cited by:

    1. Balázs Dobi & András Zempléni, 2022. "Markovchart: an R package for cost-optimal patient monitoring and treatment using control charts," Computational Statistics, Springer, vol. 37(4), pages 1653-1693, September.

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