A method includes measuring a caliper of a sheet of material using a caliper sensor having first and second sensor modules. The method also includes adjusting the caliper measurement based on a transverse displacement between a first sensor component in the first sensor module and a second sensor component in the second sensor module to generate a corrected caliper measurement. Adjusting the caliper measurement can include applying a corrector function that adjusts the caliper measurement based on the measured transverse displacement. The corrector function can be identified by repeatedly creating misalignment between the first and second sensor components, measuring a known distance using the caliper sensor, and identifying an error between the measurement of the known distance and the known distance.