The aim of this study is to present the economic‐statistical design of an EWMA control chart for monitoring the process dispersion.
The optimal economic‐statistical design of the S EWMA chart was determined for a wide benchmark of examples organized as a two level factorial design and was compared with the designs obtained for the S Shewhart chart. Both the two charts have been designed so that an equal number of false alarms (in‐control Average Run Length) is expected.
The S EWMA allows significant hourly cost savings to be achieved for the entire set of process scenarios with respect to the S Shewhart; a mean percentage cost saving of 6.77 per cent is obtained for processes characterized by a reduction in process dispersion (i.e. processes whose natural variability is reduced through an external technological intervention), whereas up to a 9.78 per cent saving is achieved for processes whose dispersion is increased by the occurrence of an undesired special cause.
The proposed S EWMA chart can be considered as an effective tool when statistical process control procedures should be implemented on a process with the aim of monitoring its data dispersion.
In literature the economic design of EWMA charts covers only the process cost evaluation when the sample mean is monitored; here, the study is extended to the sample standard deviation to investigate if the EWMA scheme still outperforms the Shewhart chart. An extensive analysis is proposed to evaluate the influence of the process operating parameters on the EWMA chart design variables.
