Discusses the problem of the joint determination of the parameters for X and R control charts. A simple heuristic, called a power approximation, is presented. The power approximation is based on three regression equations which are used to estimate the sample size and the control limits for the...

This paper studies nonparametric control charts to sequentially monitor dependent stochastic processes in continuous time with arbitrary but smooth drift functions m(t) to detect fast changes of m(t). Such methods are of particular interest when monitoring financial time series in order to...

While the need to set targets has been widely discussed in the TQM, benchmarking and re‐engineering literature, guidance aimed at helping management report and interpret performance against targets has been fragmented. Very little literature has appeared that brings together our current state...