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 |
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Projects: | Smart data analytics for business and local government |
Subjects: | 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: | 15 Jul 2016 09:19 UTC |
Last Modified: | 08 Oct 2021 12:09 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/56311 (The current URI for this page, for reference purposes) |
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