Economic design of process adjustment for on-line control

A new control policy for process adjustment is proposed for an on-line control situation. The new procedure suggests minor and major adjustment intervals and is designed to overcome the problem of increasing variation of the process in which the traditional economic design of process adjustment is inadequate. Approximated solutions and algorithms are obtained for the process adjustment intervals. Simulated numerical examples and comparison with a traditional procedure show interesting results in which the new control policy can be applied advantageously and has many potential practical applications.