The purpose of this study is to conduct a concurrent product and process parameters determination for further cost reduction and quality enhancement. The process design-related parameters, such as process mean, process tolerance and product design-related parameters, such as product tolerance, are considered simultaneously in the proposed approach. To reflect the response from these three key controllable characteristics: process mean, process tolerance and product tolerance, the key measurement score, which is the sum of the mean cost, tolerance cost, quality loss and failure cost, is used to evaluate the present model. Two examples are provided for demonstrating the application of single and multiple quality characteristics.