Some industrial data often come with uncertainty, which in some cases depends on the decision of those responsible for taking the measurement in the production process. While the fuzzy approach helps to tackle the ambiguity that arises in the measurement, an interval type-2 fuzzy set deals with...

With the need of more responsive and resilient manufacturing processes for high value, customised products, Flexible Manufacturing Systems (FMS) remain a very relevant manufacturing approach. Due to their complexity, quality monitoring in these types of systems can be very difficult,...

Purpose This paper presents economic and economic-statistical designs of the adaptive exponentially weighted moving average (AEWMA) control chart for monitoring the process mean. It also aims to compare the effect of estimated process parameters on the economic performance of three charts, which...

We test the efficient market hypothesis by using machine learning to forecast future stock returns from historical performance. These forecasts strongly predict the cross section of future stock returns. The predictive power holds in most subperiods, is strong among the largest 500 stocks, and...

The purpose of this article is to evaluate the application of forecasting models along with the use of residual control charts to assess production processes whose samples have autocorrelation characteristics. The main objective is to determine the efficiency of control charts for individual...

In the past few years, there has been an increasing interest in developing project control systems. The primary purpose of such systems is to indicate whether the actual performance is consistent with the baseline and to produce a signal in the case of non-compliance. Recently, researchers have...

We introduce a new class of Shewhart control charts, namely the ø-chart. This new class is based on the cumulative paired ø-divergence that generalizes both the cumulative (residual) entropy and the differential entropy. The phi-chart contains several subclasses; of which one has as a special...

This article is a result of the research on the models of the production processes for the quality management and their identification. It discusses the classical model and the indicators for evaluating the capabilities by taking as its starting point the assumption of the normal distribution of...

Process tolerancing based on the process capability studies is the optimistic and pragmatic approach of determining the manufacturing process tolerances. On adopting the define–measure–analyze–improve–control approach, the process potential capability index (Cp) and the process...