Stochastic modeling for computational warranty analysis

Stochastic modeling for computational warranty analysis

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Article ID: iaor20063281
Country: United States
Volume: 52
Issue: 3
Start Page Number: 224
End Page Number: 231
Publication Date: Apr 2005
Journal: Naval Research Logistics
Authors: ,
Keywords: warranty
Abstract:

We examine two key stochastic processes of interest for warranty modeling: (1) remaining total warranty coverage time exposure and (2) warranty load (total items under warranty at time t). Integral equations suitable for numerical computation are developed to yield probability law for these warranty measures. These two warranty measures permit warranty managers to better understand time-dependent warranty behavior, and thus better manage warranty cash reserves.

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