Assessing the economic-statistical performance of an attribute SVSSI-np control chart based on genetic algorithms

•Implementation of the SVSSI-np chart and its optimization with genetic algorithms.•Evaluation of the proposed sampling scheme and its competitors by a cost model.•Consideration of process failure rate, shift values, and proportions of nonconforming items.•Studying optimal designs of the SVSSI scheme via comprehensive sensitivity analysis.•The proposed SVSSI-np chart leads to cost reduction and efficiency gains. The SVSSI scheme, featuring three variable sample sizes and two variable sampling intervals, considerably enhances the performance of control charts in detecting shifts. As a novel contribution, this study proposes an optimized design of the SVSSI-np control chart using genetic algorithms, illustrating its superior performance over other sampling schemes by considering economic and statistical perspectives in a unified model. The outcomes of implementing the SVSSI alongside other sampling schemes are assessed via a numerical example, demonstrating the influence of varying parameters such as process failure rate, shift value, and proportion of nonconforming items. Based on the obtained results, the SVSSI scheme outperforms other schemes by achieving over a 10% reduction in costs and over a 30% improvement in reducing time to signal and false alarm rates in most runs. The impact of inaccurately estimating the shift size is also investigated, revealing that incorrect estimates can lead to ineffective adjustments and improvements. Finally, optimal SVSSI designs are explored through comprehensive sensitivity analysis and robust optimization to address uncertainty, and the results of applying fractional factorial design are statistically analyzed. In summary, the SVSSI-np control chart demonstrates potential for enhanced cost reduction, process monitoring, and efficiency gains.