An article in Journal of the Operational Research Society
Chapter 15, Problem 165E(choose chapter or problem)
Problem 27E
An article in Journal of the Operational Research Society [“A Quality Control Approach for Monitoring Inventory Stock Levels,” (1993, pp. 1115–1127)] reported on a control chart to monitor the accuracy of an inventory management system. Inventory accuracy at time t, AC◊t◊, is defined as the difference between the recorded and actual inventory (in absolute value) divided by the recorded inventory. Consequently, AC◊t◊◊ranges between 0 and 1 with lower values better. Extracted data are shown in the following table.
(a) Calculate individuals and moving-range charts for these data.
(b) Comment on the control of the process. If necessary, assume that assignable causes can be found, eliminate suspect points, and revise the control limits.
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