Determination of the optimal warranty policy and period from the manufacturer's/seller's perspective
Yükleniyor...
Dosyalar
Tarih
2021
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Taylor & Francis Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study aims to determine the most appropriate warranty period and policy with the lowest warranty cost from the manufacturer/seller point of view. The warranty policy to be put forward and the warranty period to be offered under this policy should ensure customer satisfaction while at the same time causing a minimum cost to the manufacturer/seller. For this reason, the optimum warranty period within the scope of Free-Replacement Warranty (FRW) policy, Pro-Rata Warranty (PRW) policy, and Combined FRW/PRW policy which was the combination of those two warranty policies were tried to be determined. In the study which was done to determine the most appropriate warranty period, economic benefit and the benefit function obtained from warranty cost and dissatisfaction cost functions were used. While obtaining necessary formulas, exponential distribution, which was widely used in life tests as density function and gamma and inverse-gamma functions as prior distribution of the exponential distribution were used. To demonstrate the applicability and flexibility of the model, some typical sales models and numerical values for exponential lifetime distribution were used, and an algorithm was created to find the optimal solution. When all of the results were analyzed it was seen that Combined FRW/PRW policy was the most appropriate warranty cost as a result of testing the models obtained and it was also found that the warranty cost was almost 3% of the sale price. Within the frame of these obtained results, Combined FRW/PRW policy was suggested for the warranty service to be served with the product to the manufacturer/seller. If the warranty period number of revolutions were chosen almost g1=0.054., g2=0.120. the warranty cost will be in the minimum level and it will be almost 3% of the product sale price. The validity and accuracy of the proposed strategy was verified by a case study with a numerical sample providing a scientific basis.
Açıklama
Anahtar Kelimeler
Bayesian Approach, Prior Distribution, Simulation, Warranty Cost, Warranty Period, Warranty Policy
Kaynak
Communications in Statistics-Simulation and Computation
WoS Q Değeri
Q3
Scopus Q Değeri
Q3
Cilt
Sayı
Künye
Mutlu, H. T., & Yildiz, M. S. (2021). Determination of the optimal warranty policy and period from the manufacturer’s/seller’s perspective. Communications in Statistics-Simulation and Computation, 1-23.
