Quality Control Chart

AAA

DEFINITION of 'Quality Control Chart'

A graphic that depicts whether sampled products or processes are meeting their intended specifications and, if not, the degree by which they vary from those specifications. Analyzing the pattern of variance depicted by a quality control chart can help determine if defects are occurring randomly or systematically.

INVESTOPEDIA EXPLAINS 'Quality Control Chart'

Different types of quality control charts, such as X-bar charts, S charts and Np charts are used depending on the type of data that needs to be analyzed. A quality control chart can also be univariate or multivariate, meaning that it can show whether a product or process deviates from one or from more than one desired result.

RELATED TERMS
  1. Total Quality Management - TQM

    The continuous process of reducing or eliminating errors in manufacturing, ...
  2. Quality Control

    A process through which a business seeks to ensure that product ...
  3. Acceptable Quality Level - AQL

    A statistical measurement of the maximum number of defective ...
  4. Quality Management

    The act of overseeing all activities and tasks needed to maintain ...
  5. Six Sigma

    A quality-control program developed in 1986 by Motorola. Initially, ...
  6. Supply Management

    A broad term describing the various acts of identifying, acquiring ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Fundamental Analysis

    Measuring Company Efficiency

    Three useful indicators for measuring a retail company's efficiency are its inventory turnaround times, its receivables and its collection period.
  2. Fundamental Analysis

    Vital Link: Manufacturing And Economic Recovery

    Manufacturing output is one of the clearest signs that an economy is recovering from a recession.
  3. Markets

    The Amateur Investor's Guide To Analyzing Corporate Efficiency

    Find out how the amateur investor can measure the success of management.
  4. Investing News

    Millennial Investing Techniques Are Changing The Game

    Millennials are taking advantage of social media and a variety of high-tech tools to plow their wealth into investment vehicles of their choice.
  5. Professionals

    What are Core Competencies?

    Core competencies are the essence of what a company does well. A business uses its core competencies to make and develop products, goods and services according to its company mission. Core competencies ...
  6. Personal Finance

    Indeed vs. LinkedIn

    There are a large number of employment websites to choose from and not all of them operate the same way, making finding a job online both time consuming and difficult.
  7. Investing

    Which Is Better For Me: MarketWatch Or Bloomberg?

    As part of a series comparing popular finance websites, Investopedia conducts an unbiased review of MarketWatch and Bloomberg.
  8. Professionals

    Types of Business Guidance Funded by Government

    To access the right type of advice and support for your business from a variety of government-funded services, know what's out there and what you need.
  9. Investing

    Who's The Better Financial New Source: The Motley Fool or Seeking Alpha

    This is a comparison of two of the most popular investment research sites: The Motley Fool and Seeking Alpha.
  10. Investing

    How Special Purpose Entities Help Fight Risk

    A special purpose entity, sometimes called a special purpose vehicle, is a legal entity created for one very limited, particular task. Typically, SPEs are subsidiaries of a larger corporation.

You May Also Like

Hot Definitions
  1. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  2. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  3. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  4. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  5. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  6. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
Trading Center