Adaptive Sampling Interval Economic Control Chart

In this article, a renewal theory approach is used to derive an expression for the expected cost per unit production time of adaptive sampling interval economic control chart. First, we derive the expected cycle time E(T) and expected cycle cost E(C). Then the expected cost per unit production time is E(V)=E(C)/E(T). The optimal design parameters can be determined by minimizing the expected cost per unit production time E(V). In this paper, minimizing the cost function, the optimal design parameters can be determined by using Fortran program and IMSL library. Furthermore, the sensitivity analysis illustrates the effects of cost and process input parameters on the optimal design parameters and the minimal expected cost per unit production time for the proposed control chart