RESEARCH PAPER
Optimising extended warranty policies following the two-dimensional warranty with repair time threshold
1
Department of Mathematics & Physics Shijiazhuang Tiedao Institute Shijiazhuang, 050043, China
Publication date: 2018-12-31
Eksploatacja i Niezawodność – Maintenance and Reliability 2018;20(4):523-530
KEYWORDS
ABSTRACT
This paper considers an optimal extended warranty policies after the expiration of base two-dimensional warranty with repair time
threshold. During the base two-dimensional warranty period, each failure of the equipment can be either replaced or minimally
repaired depending on a pre-specified repair time threshold. After the base warranty expires, the length of an extended warranty
policy is available for selection. The equipment is minimally repaired on each failure during the extended warranty. In this study,
the length of the extended warranty period is optimized by minimizing the expected cost rate incurred over the whole warranty
coverage, from the views of customs and manufacturers respectively. For the purpose of illustration, we present and discuss some
numerical examples. The effect of repair time threshold on the optimal strategy is also investigated numerically.
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| eISSN: | 2956-3860 |
| ISSN: | 1507-2711 |
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