Estimation of future breakdowns to determine optimal warranty policies for products with deterioration

Yeu Shiang Huang, Yi Feng Zhuo

研究成果: Article同行評審

27 引文 斯高帕斯(Scopus)

摘要

Warranty has been played an important role not only for safeguarding the rights and interests of consumers but also for promoting the sales and reputation of manufacturers, since a good warranty policy signifies the image of high-quality products and thus becomes a powerful weapon for marketing products in increasingly competitive markets. It is obvious that a more thoughtful warranty policy of a product will attract more customers to consume the specific product, and increase the product's market share accordingly. However, an unlimited warranty for monopolizing the market is absolutely unrealistic, since the cost will significantly increase for maintaining such a warranty policy with better offers. In this paper, a Bayesian decision model for determining the optimal warranty policy for repairable products is proposed. The successive failure times of the repairable product are assumed to be drawn from a nonhomogeneous Poisson process. Both the repair costs for restoring the product to full functionality after each breakdown and the potential sales increases due to the specific warranty policy are also considered. Finally, an application case is utilized to demonstrate the feasibility and validity of the proposed approach.

原文English
頁(從 - 到)163-168
頁數6
期刊Reliability Engineering and System Safety
84
發行號2
DOIs
出版狀態Published - 2004 五月

All Science Journal Classification (ASJC) codes

  • 安全、風險、可靠性和品質
  • 工業與製造工程

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