Some approaches for the monitoring event magnitude and frequency

Control charting techniques for monitoring the magnitude and frequency of an event is crucial in manufacturing and industrial areas. Traditionally, two isolated sequential stopping rules are employed for monitoring these variables separately. However, recent development in this area employs some unified approach to simultaneously monitor the magnitude and frequency of an event. In this talk, we will present some recent developments in the statistical process monitoring considering both the magnitude and frequency of events. In a recent study, we design an adaptive approach scheme for monitoring these variables simultaneously. The scheme combines a max and a distance-based statistics. It retains the advantages of both the Max-type and the Distance-type schemes for joint inference. The proposed scheme is very effective, efficient and competent in detecting a shift in the process distribution of magnitude or frequency of an event, or both. In addition, it is easier to implement. It has a distinct advantage over its traditional counterparts in detecting moderate to large shifts. Finally, we illustrate the implementation of the proposed scheme with a real dataset.