Product Warranty

Wallace R. Blischke (), M. Rezaul Karim () and D. N. Prabhakar Murthy ()
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M. Rezaul Karim: Rajshahi University
D. N. Prabhakar Murthy: The University of Queensland

Chapter Chapter 2 in Warranty Data Collection and Analysis, 2011, pp 19-34 from Springer

Abstract: Abstract Warranty is a contractual agreement between manufacturer and buyer that is entered into on sale of a product. The warranty defines the remedy available to the buyer if the performance of the product is unsatisfactory. There are several different types of warranties in common use, and nearly all manufactured items purchased are covered by warranty. The chapter discusses the classification of warranties and describes several one- and two-dimensional warranty policies that are discussed later in the book. Offering warranties requires the manufacturer to service warranty claims. The warranty servicing process employed in dealing with such claims provides an opportunity for obtaining valuable data regarding the product, the manufacturing process, customers, the service process, and so forth. The servicing of warranty results in additional costs to the manufacturer. The role of warranty data in the management of these costs is discussed.

Keywords: Life Cycle Cost; Warranty Period; Warranty Service; Mean Time Between Failure; Repeat Purchase (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-0-85729-647-4_2

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