Replacement–repair policy for multi-state deteriorating products under warranty

Replacement–repair policy for multi-state deteriorating products under warranty

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Article ID: iaor2001648
Country: Netherlands
Volume: 123
Issue: 3
Start Page Number: 519
End Page Number: 530
Publication Date: Jun 2000
Journal: European Journal of Operational Research
Authors: , ,
Keywords: warranty
Abstract:

In this paper we study a warranty servicing policy for a class of multi-state deteriorating and repairable products. The manufactur's decision to repair or replace a failed item depends on two parameters, the deterioration degree of the item and the length of the residual warranty period. We examine the optimal value of these two parameters to minimize the manufacturer's expected warranty servicing cost per item sold.

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