Investment in new product reliability

D.N.P. Murthy, M. Rausand and S. Virtanen

Reliability Engineering and System Safety, 2009, vol. 94, issue 10, 1593-1600

Abstract: Product reliability is of great importance to both manufacturers and customers. Building reliability into a new product is costly, but the consequences of inadequate product reliability can be costlier. This implies that manufacturers need to decide on the optimal investment in new product reliability by achieving a suitable trade-off between the two costs. This paper develops a framework and proposes an approach to help manufacturers decide on the investment in new product reliability.

Keywords: Product reliability; Product development; Reliability design; Product life cycle; Mathematical models (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:94:y:2009:i:10:p:1593-1600

DOI: 10.1016/j.ress.2009.02.031

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