Wu, Shaomin, Longhurst, Phil (2011) Optimising Age-Replacement and Extended Non-Renewing Warranty Policies in Lifecycle Costing. International Journal of Production Economics, 130 (2). pp. 262-267. ISSN 0925-5273. (doi:10.1016/j.ijpe.2011.01.007) (KAR id:32000)
PDF
Author's Accepted Manuscript
Language: English |
|
Download this file (PDF/284kB) |
|
Request a format suitable for use with assistive technology e.g. a screenreader | |
Official URL: http://dx.doi.org/10.1016/j.ijpe.2011.01.007 |
Abstract
This paper analyses the life cycle cost of equipment protected by both base and extended warranty policies from a consumer's perspective. We assume that the equipment has two types of failure: minor and catastrophic. A minor failure can be corrected with minimal repair whereas a catastrophic failure can only be removed by a replacement. It is assumed that equipment is maintained at no charge to the consumer during the warranty period, whereas the consumer is fully charged for any maintenance on failures after the extended warranty expires. We formulate the expected life cycle cost of the equipment under a general failure time distribution, and then for special cases we prove that the optimal replacement and extended warranty policies exists where the expected life cycle cost per unit time is minimised. This is examined with numerical examples. © 2011 Elsevier B.V. All rights reserved.
Item Type: | Article |
---|---|
DOI/Identification number: | 10.1016/j.ijpe.2011.01.007 |
Additional information: | Unmapped bibliographic data: PY - 2011/// [EPrints field already has value set] AD - School of Applied Sciences, Cranfield University, Bedfordshire MK43 0AL, United Kingdom [Field not mapped to EPrints] JA - Int J Prod Econ [Field not mapped to EPrints] |
Uncontrolled keywords: | Life cycle cost, Maintenance policy, Minimal repair, Opportunity-based replacement, Warranty policy, Lifecycle costs, Maintenance policy, Minimal repair, Opportunity-based replacement, Warranty policy, Costs, Equipment, Life cycle, Optimization, Planning, Repair, Cost benefit analysis |
Subjects: |
H Social Sciences H Social Sciences > HA Statistics > HA33 Management Science |
Divisions: | Divisions > Kent Business School - Division > Department of Analytics, Operations and Systems |
Depositing User: | Shaomin Wu |
Date Deposited: | 26 Oct 2012 15:41 UTC |
Last Modified: | 16 Nov 2021 10:09 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/32000 (The current URI for this page, for reference purposes) |
- Link to SensusAccess
- Export to:
- RefWorks
- EPrints3 XML
- BibTeX
- CSV
- Depositors only (login required):