A unifying process capability metric
A new economic approach to process capability assessment is presented, which differs from the commonly used engineering metrics. The proposed metric consists of two economic capability measures – the expected profit and the variation in profit of the process. This dual economic metric offers a numbe...
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2009 |
| País: | España |
| Institución: | Universitat Politècnica de Catalunya (UPC) |
| Repositorio: | UPCommons. Portal del coneixement obert de la UPC |
| Idioma: | inglés |
| OAI Identifier: | oai:upcommons.upc.edu:2099/8220 |
| Acceso en línea: | https://hdl.handle.net/2099/8220 |
| Access Level: | acceso abierto |
| Palabra clave: | Process control Industrial productivity Profit Productivitat laboral Control de processos Beneficis -- Anàlisi Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions |
| Sumario: | A new economic approach to process capability assessment is presented, which differs from the commonly used engineering metrics. The proposed metric consists of two economic capability measures – the expected profit and the variation in profit of the process. This dual economic metric offers a number of significant advantages over other engineering or economic metrics used in process capability analysis. First, it is easy to understand and communicate. Second, it is based on a measure of total system performance. Third, it unifies the fraction nonconforming approach and the expected loss approach. Fourth, it reflects the underlying interest of management in knowing the expected financial performance of a process and its potential variation. |
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