Development of lifetime warranty policies and models for estimating costs

Development of lifetime warranty policies and models for estimating costs

In today's fiercely competitive products market, product warranty has started playing an important role. The warranty period offered by the manufacturer/dealer has been progressively increasing since the beginning of the 20th Century. Currently, a large number of products are being sold with long-term warranty policies in the form of extended warranty, warranty for used products, service contra...

Sensitivity of Manufacturer and Buyer’s Risks for Lifetime Warranty Policies

Lifetime warranties is becoming popular as they provide assurance to buyer for longer reliable service and greater customer peace of mind for the whole life of the product. By offering a lifetime warranty, both the manufacturer and the buyer are exposed to uncertainties and risks of warranty pricing and product performance during the lifetime of the product. This paper analyses the sensitivity ...

development of a new pro-rata warranty policy for estimating costs

in today’s fiercely competitive products market, product warranty has started playing an important role. currently, a large number of products are being sold with warranty policies in the form of free replacement warranty, pro-rata warranty, and combined warranty policies. pro-rata warranties are relatively a complex concept. the modeling of failures during the warranty period and the costs for...

estimating warranty costs for the manufacturer and buyer based on a new pro-rata warranty policy

currently, a large number of products are being sold with warranty policies. pro-rata warranties are relatively a complex concept. this paper focuses on developing a new pro-rata warranty policy. in this model components of the product are grouped into two disjointed sets, failures of components belonging to set one are covered by prw warranty and those components that belonging to set two are ...

Estimating Lifetime or Episode of illness Costs