Inverse Maxwell Distribution and Statistical Process Control: An Efficient Approach for Monitoring Positively Skewed Process

(1) Background: The literature discusses the inverse Maxwell distribution theoretically without application. Control charting is promising, but needs development for inverse Maxwell processes. (2) Methods: Thus, we develop the VIM control chart for monitoring the inverse Maxwell scale parameter and studied its statistical properties. The chart’s performance is evaluated using power curves and run length properties. (3) Results: Further, we use simulated data to compare the shift detection capability of our chart with Weibull, gamma, and lognormal charts. (4) Conclusion: The analysis demonstrates our chart’s efficiency for monitoring skewed processes. Finally, we apply our chart for monitoring real world lifetimes of car brake pads.