The application of the NSGA-II optimization method in designing control charts

The problem of designing control chart is formulated as a multi-objective optimization problem with the adjusted average time to signal as the statistical objective and the expected cost per hour as the economic objective. Then we try to find the Pareto-optimal designs in which the two objectives are minimized simultaneously by using the elitist non-dominated sorting genetic algorithm method. Through an illustrative example, the advantages of the proposed approach is shown by providing a list of viable optimal solutions and graphical representations, thereby bolding the advantage of flexibility and adaptability.