The purpose of this study is to present the method to select optimal size for the industrial products which are closely related to human′s body size. For this purpose, human factors such as body characteristics, body features, and preference in product selection which needs to be considered in setting standards were analyzed. This analysis is to select optimal size to minimize losses caused by the difference of size between demand by the customers and supply from the manufacturers. Using loss function, repetitive calculation process algorithm by using bisearch method was applied in selecting the sizes of demand and supply which minimize the total expected losses. For cumulative normal distribution probability, IMSL routine DNORDF was used. In case study, comparison has been made between the result which was calculated using presented algorithm and the results calculated by the process currently used by KS and ISO by measuring aged women′s body size in human factors side and sorting them through the factor analysis and cluster analysis for feature factor extraction. Thus, they can be used as a basis for establishing industrial product standards.