Usage of Failure Time and Repair Time for Optimization of Maintenance and Warranty Policy and Lemon Law Application

Minjae Park () and Dong Ho Park ()
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Minjae Park: Hongik University
Dong Ho Park: Hallym University

A chapter in Advances in Reliability and Maintainability Methods and Engineering Applications, 2023, pp 295-330 from Springer

Abstract: Abstract This chapter reviewed several optimization problems to determine its optimal relevant decision variables minimizing the expected warranty costs during certain intervals, such as life cycle, warranty period or post-warranty maintenance period. The decision variables of our interest include the length of warranty period, inter-PM interval and length of post-warranty maintenance period. All of the warranty models presented in this chapter are based on the renewable minimal repair-replacement (MRR) warranty under which both repair time and failure time are considered at the same time upon the system failure. Furthermore, the warranty conditions under the MRR warranty is somewhat similar to the ones regulated under the lemon law which aims to protect the buyers of the defective motor vehicles. The warranty model applicable to the lemon law is also presented in this chapter.

Keywords: Failure time; Repair time; Lemon law; Maintenance; Warranty (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssrchp:978-3-031-28859-3_12

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DOI: 10.1007/978-3-031-28859-3_12

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