Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A control chart plots measured values along with upper and lower quality control limits. Values appearing outside these limits are unacceptable and could indicate a manufacturing problem. Although ...

Control charts have two general uses in an improvement project. Undeniably, the most common application is as a tool to ...

The extent to which products meet specifications needs to be systematically monitored in a production process. Product quality will typically be defined by two quantities: deviations from stated ...

The cumulative sum chart for controlling the mean of a manufacturing process having normally distributed quality with known variance is studied. The costs of repairing the process, of operating out-of ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. David Kindness is a Certified Public Accountant (CPA) and an ...

Control charts have been widely used for monitoring production processes and identifying assignable causes of variability. Many papers investigate the application of control charts in different ...

Total Quality Management (TQM) refers to management methods used to enhance quality and productivity in business organizations. TQM is a comprehensive management approach that works horizontally ...