(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 $V_{IM}$ 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.