If an undersize part is not the result of bad measuring, then it must be the result of unintended tool movement. To catch it in critical situations, you can put an indicator against the toolpost. Anchor the indicator base to the lathe saddle. You'd be surprised how little bumps and so on can make the cross-slide creep inward. A DRO will show the same thing. The motor on my Monarch lathe accelerates so strongly, that even the Monarch's cross-slide will creep a few ten-thousandths upon starting, due to the slight pre-tension in the cross-slide screw.