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Warranty Risk Management For the Consumer Durable Manufacturers

Aljazea, Ahmed (2020) Warranty Risk Management For the Consumer Durable Manufacturers. Doctor of Philosophy (PhD) thesis, University of Kent,. (Access to this publication is currently restricted. You may be able to access a copy if URLs are provided) (KAR id:80932)

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Language: English

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Abstract

Warranty is a contractual obligation for maintenance upon failures of sold items during a warranty period. Warrantors utilise warranty as a strong promotional tool. Although warranty can bring some benefits, it involves various types of risks that may lead to negative impact (such as economic loss) on the warrantor. Systematic analysis of such risks can protect warrantors from potential losses. Based on a critical and comprehensive analysis of the existing warranty literature, very few studies discuss warranty risk management (WaRM). This thesis therefore aims to investigate WaRM from several perspectives and it makes contributions to the literature and practice, as shown below.

Secondly, a questionnaire was designed to gain an in-depth understanding of WaRM. From analysing the survey in the UK automotive industry, the following findings were obtained:

(b) the most commonly used tool for assessing warranty risks is the failure mode effect and criticality analysis technique;

Thirdly, the selection of methods to mitigate WaR (warranty risk) is important but includes uncertainty. The thesis investigates the warranty risk mitigation process and analyses the main criteria that can be influenced. A selection method is developed based on the joint application of the cumulative prospect theory (CPT) and the analytic hierarchy process method (AHP). The new method can guide decision makers to the selection of mitigation methods over their conflicting views and their attitudes towards risks.

The theoretical implications of this thesis are listed as follows:

(b) Determine the top contributors to warranty hazards and hence two taxonomies were developed.

(d) Develop a mathematical model to optimise warranty price considering the buyer and warrantor point of views towards the expected repair cost and claims cost, respectively.

(a) The WaRM framework will provide warranty practitioners with the required guidelines to manage warranty risks.

(c) The warranty hazards taxonomies might help warranty practitioners in improving the process, procedures or technologies which are required to reduce the occurrence of warranty risks.

(e) The determination of the optimal warranty price can be achieved when the warrantor and buyers views are considered. To this end, a mathematical model is provided.

Item Type: Thesis (Doctor of Philosophy (PhD))
Thesis advisor: Wu, Shaomin
Thesis advisor: Liu, Steve
Uncontrolled keywords: Warranty management, risk management, social network data, cumulative prospect theory, analytic hierarchy process
Divisions: Faculties > Social Sciences > Kent Business School
SWORD Depositor: System Moodle
Depositing User: System Moodle
Date Deposited: 20 Apr 2020 14:10 UTC
Last Modified: 06 May 2020 03:20 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/80932 (The current URI for this page, for reference purposes)
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