In this paper, an optimal control strategy (i.e., offset settings system) based on the new Multi-objective Particle Swarm Optimization with Differential Evolution (MOPSO-DE) technique is developed and presented. The MOPSO-DE algorithm is used for calculating the optimal positions (i.e., offset settings) for the cutting tools in lathe machines. This optimal control strategy yields interesting results without a need to go through the complex mathematical modeling of the lathe system. The proposed technique is validated considering a real-world industrial system. This strategy is designed to take an action every 20 pieces, and it takes only 2.5 sec to run the code and optimally calculate the new settings. The control strategy is implemented using two high precision linear stepper motors. By implementing the new optimal control strategy, the estimated number of the defective pieces per day can be reduced by 85%.