The economically designed control chart for short-run production based on Bayesian method

The paper presents an economic design of a bayesian chart for short-run production. Based on the static chart, we employ the bayesian method which uses sample information to update the information of the process, and the updated information is then combined with the inspection probabilistic model which is developed through the markov chain method to design the dynamic chart. The dynamic chart allows all three parameters, namely the sample interval, sample size and control limit location, to change during production. A direct search technique is applied to find the optimum parameters which minimize the expected cost function. Numerical examples illustrate that the dynamic chart has an overwhelming advantage over the static chart.