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Economic acceptance sampling by variables with quadratic quality costs

Author: Tagaras, George INSEAD Area: Technology and Operations Management Series: Working Paper ; 92/39/TM Publisher: Fontainebleau : INSEAD, 1992.Language: EnglishDescription: 26 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: An economic model is developed, to assist in the selection of minimum cost acceptance sampling plans by variables. The quadratic Taguchi loss function is adopted to model the cost of target value. The case of a normally distributed quality characteristics with known variance is examined, and a simple and efficient optimization algorithm is proposed. Comparisons with other methods of deriving sampling plans reveal that the cost penalties for using an inappropriate plan may be very large.
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An economic model is developed, to assist in the selection of minimum cost acceptance sampling plans by variables. The quadratic Taguchi loss function is adopted to model the cost of target value. The case of a normally distributed quality characteristics with known variance is examined, and a simple and efficient optimization algorithm is proposed. Comparisons with other methods of deriving sampling plans reveal that the cost penalties for using an inappropriate plan may be very large.

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