Optimal replace-repair strategy for servicing products sold with warranty

For repairable products sold with warranty, the manufacturer has the option of either repairing a failed item or replacing it by a new one should the failure occur during the warranty period. This paper formulates a model to make optimal decisions regarding replace-repair strategies for a fairly gen...

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Bibliographic Details
Published in:European journal of operational research 1989-03, Vol.39 (2), p.206-212
Main Authors: Nguyen, D.G., Murthy, D.N.P.
Format: Article
Language:English
Subjects:
Mathematical analysis
Mathematical models
Operations research
Optimization
repair
servicing
Theory
Warranties
Warranty
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Description
Summary:For repairable products sold with warranty, the manufacturer has the option of either repairing a failed item or replacing it by a new one should the failure occur during the warranty period. This paper formulates a model to make optimal decisions regarding replace-repair strategies for a fairly general warranty policy.
ISSN:0377-2217
1872-6860
DOI:10.1016/0377-2217(89)90193-8