ENBIS: European Network for Business and Industrial Statistics

Bayesian Control Charts: Theory and Application

24 September 2008, 09:20 – 09:40

Abstract

Submitted by

George Tagaras

Authors

George Tagaras

Affiliation

Aristotle University of Thessaloniki

Abstract

Bayesian control charts constitute a more flexible and effective approach to statistical process monitoring compared to conventional control charts such as Shewhart and CUSUM. Although the specific mathematical analysis for the economically optimal design and operation of Bayesian charts has been developed for over a decade, the practical implementation of these charts is minimal due to their computational complexity and requirements. However, the continuing progress in computing technology and power is gradually allowing the design and implementation of Bayesian charts in practice. The objective of this presentation is to highlight these developments and provide convincing arguments in favor of more widespread adoption of the Bayesian approach to statistical process control. A specific application of economically designed control charts in an actual manufacturing environment will serve to support and illustrate the arguments.

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