Engineering Economic Decisions and Warranties

Warranties are essential in marketing products and meeting competition in today's global economy. The inherent risks and uncertainties in the processes and markets present challenges in accounting for the associated costs and incorporating them in planning and economic decisions. Over the past...

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Bibliographic Details
Published in:The Engineering economist 2005-10, Vol.50 (4), p.307-326
Main Author: Thomas, Marlin U.
Format: Article
Language:English
Subjects:
Decision making
Economic models
Product quality
Studies
Warranties
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Summary:Warranties are essential in marketing products and meeting competition in today's global economy. The inherent risks and uncertainties in the processes and markets present challenges in accounting for the associated costs and incorporating them in planning and economic decisions. Over the past 40 years, considerable work has been done in developing quantitative methods for analyzing warranties but the integration of warranties in engineering economic studies has been slow to evolve. This article provides an update on these methods.
ISSN:0013-791X
1547-2701
DOI:10.1080/00137910500348327