Optimal renewing free-maintenance warranty period and preventive replacement age for repairable products
Chin-Chih Changa
Journal of the Operational Research Society, 2022, vol. 73, issue 12, 2602-2613
Abstract:
This paper proposes a decision model for determining the optimal renewing free-maintenance warranty (RFMW) period and preventive replacement age of a general repairable product with a random workload. To model a maintenance action, if a failure occurs, either a corrective replacement or a minimal repair is performed, in case of catastrophic failure or minor failure, respectively. To avoid catastrophic failures occurring for a degraded product, a preventive replacement is predetermined for implementation at age T or at the completion of a working time, whichever comes last. During RFMW, any maintenance action (either repair or replacement) is free of charge to the customer. However, each catastrophic failure still results in a downtime cost to the customer, while a planned maintenance action increases the initial purchasing cost. The aim of this paper is to determine the optimal warranty period and preventive replacement age, from the collection viewpoint of the manufacturer as well as the customers, while minimising the corresponding expected cost rate functions. The effects of RFMW on the optimal preventive replacement model are further investigated by some comparative studies and demonstrated via a numerical example. It is shown that the proposed model provides a generalised application in maintenance theory and warranty strategy.
Date: 2022
References: Add references at CitEc
Citations:
Downloads: (external link)
http://hdl.handle.net/10.1080/01605682.2021.2004944 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:tjorxx:v:73:y:2022:i:12:p:2602-2613
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/tjor20
DOI: 10.1080/01605682.2021.2004944
Access Statistics for this article
Journal of the Operational Research Society is currently edited by Tom Archibald
More articles in Journal of the Operational Research Society from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().