Walter Andrew Shewhart is regarded as the founder of Statistical Quality Control (SQC), an approach to production inspection based on the application of statistical theory. He developed SQC in the 1920s while working at Bell Telephone Laboratories. During this period, he was tasked with training...

Control charts are a widely used tool for statistical process control and have been continuously researched and applied for several decades. If the underlying assumptions are guaranteed, traditional charts such as the Shewhart, EWMA or CUSUM chart are a reasonable choice for monitoring...

The cumulative sum (CUSUM) control chart and the multivariate anomaly detection with the generative adversarial network (MAD-GAN) were compared for monitoring the time series data. However, it is not correct because the one-class classification was considered for the training phase and the...

Process control methods, in general, and quality, in particular, most often refer to the measures taken especially to the finished product, as well as to the technological process, in order to maintain its performance within certain statistical parameters. Genichi Taguchi is the first who...

Historical investment performance is most commonly displayed as a charted time series of what are referred to simply as “growth” returns. Unfortunately, charts of such returns have a number of shortcomings that can severely limit their value as a means of providing investors with a...

In recent years, there has been a resurgence in the development of control charts for monitoring the mean of the ratio of two correlated variables. However, most of the existing research has focused on the univariate mean of the ratio of two correlated variables under the assumption that the...

In this paper, we plan to propose individual and integrated multivariate Hotelling T2 control chart for a multi component load sharing system. In fact, the multivariate Hotelling T2 control chart for monitoring process under assumptions that the vector of signals follows a multivariate normal...

The periodic nature of auditing and monitoring allows for a valuable time-delay between the occurrence of an important business event and the analysis of that event. Advances in technology provide opportunities to reduce the time delay between the occurrence and analysis of a business process...

The adaptive EWMA (AEWMA) charts have been broadly perceived as an effective process monitoring instrument due to their capability to rapidly detect the parameter(s) shifts of diverse sizes. In this paper, a function based AEWMA control chart is designed to efficiently observe the stability of...

We carried out an Internet search of publicly available organization charts for the 2,000 largest companies according to Forbes 2019 ranking. We collected 913 organization charts of 648 companies, but only a fraction allowed reproduction. Although we do not have permission to make this visual...

During the last decade, auxiliary information based (AIB) control charts have gained a lot of popularity for process monitoring. These charts are proved efficient for early detection of shifts in process parameters like location and dispersion. A recent study has pointed out few concerns related...

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...

Purpose: This article aims to present successful practices in the management of training processes based on virtual reality and augmented reality, namely a strategy for evaluating the process with the principle of continuous improvement in mind, and monitoring its performance in terms of...

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,...

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...

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...