Conference proceeding
A real options design for quality control charts
Proceedings of the 32nd conference on winter simulation, pp.597-603
WSC '00
12/10/2000
Abstract
We develop a financial model for a manufacturing process where quality can be affected by an assignable cause. We evaluate the options associated with applying a statistical process control chart using pentanomial lattice and Monte Carlo simulation methods. By connecting the aspects of market dynamics with the manufacturing operational aspects, we now have a way to help decision makers address the bottom-line profitability associated with the quality control decision.
Details
- Title: Subtitle
- A real options design for quality control charts
- Creators
- Harriet NembhardLeyuan ShiMehmet Aktan
- Resource Type
- Conference proceeding
- Publication Details
- Proceedings of the 32nd conference on winter simulation, pp.597-603
- Publisher
- Society for Computer Simulation International
- Series
- WSC '00
- Language
- English
- Date published
- 12/10/2000
- Academic Unit
- Engineering Administration; Industrial and Systems Engineering
- Record Identifier
- 9984121865002771
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