Abstract
The main focus of this study is on the modelling of the warranty claims and evaluating the warranty expenses. The cost of each warranty claim depends on the non-zero length of the repair time. Alternating renewal process is employed to model the operating and repair times. New results for alternating renewal process in finite horizon are derived. They are used to evaluate the warranty costs over the warranty period under non-renewing free replacement policy and over the life cycle of the product. Examples are provided to illustrate the ideas.
| Original language | English |
|---|---|
| Pages (from-to) | 59-71 |
| Number of pages | 13 |
| Journal | Applied Stochastic Models in Business and Industry |
| Volume | 20 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2004 |
| Externally published | Yes |
Keywords
- Alternating renewal process
- Life cycle
- Non-renewing free replacement warranty
- Renewal function
ASJC Scopus subject areas
- Modelling and Simulation
- Business, Management and Accounting(all)
- Management Science and Operations Research