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On assumptions in optimisation of warranty policies

Wu, Shaomin and Gitzel, Ralf and Turrin, Simone (2016) On assumptions in optimisation of warranty policies. In: Proceedings of the 9thIMA International Conference on Modellingin Industrial Maintenance and Reliability. Institute of Mathematics and its Applications. ISBN 978-0-905091-31-0. (KAR id:56311)

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Abstract

Optimisation of warranty policy has been a hot research topic in both operations research and statistics communities since warranty providers hope to balance cost-benefit analysis in the nowadays competitive market. Some assumptions are inevitably needed for such research. Most of the existing publications, however, make assumptions that may not be true in practice, based on which biased decision may be made. This paper discusses pitfalls in the assumptions, which include causes of warranty claims, pattern of warranty claims, warranty claim models, field reliability vs product reliability, the relationship between usage and age in 2-dimensional warranty. A real-world example is used to elaborate the arguments.

Item Type: Book section
Projects: Projects 26010 not found.
Subjects: H Social Sciences > HA Statistics > HA33 Management Science
Divisions: Divisions > Kent Business School - Division > Kent Business School (do not use)
Depositing User: Shaomin Wu
Date Deposited: 15 Jul 2016 09:19 UTC
Last Modified: 16 Feb 2021 13:36 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/56311 (The current URI for this page, for reference purposes)
Wu, Shaomin: https://orcid.org/0000-0001-9786-3213
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