中文
Published date:2014-07-16    Provided by:School of Science
 
Title: Analysis of Hybrid Warranty Policy for Discretetime Operating Products
Guest SpeakerProfessor Zhe George Zhang, Western Washington University
Time2014-6-23, 10:00-11:30

LocationMeeting Room 7215, School of Science
Content &Introduction
In this talk, we consider a warranty policy that consists of a renewable freereplacement period and a rebate period for products operating in discretetime. Under such a hybrid warranty policy (HWP), if it fails during the first N periods (from period 1 to period N), the product is replaced with either a new or a repaired one for free (or at the manufacturer’s cost) and the policy is renewed; if it fails in the next WN periods (from period N+1 to period W), then the manufacturer refunds a prespecified proportion of the sales price to the product owner. A pure rebate warranty policy and a pure renewable replacement policy can be considered as special cases of the HWP. With the HWP, customer service and warranty cost can be tradedoff. From the perspective of the manufacturer or seller, we derive the conditions, under which the HWP is more costeffective. Some structural properties for the HWP are examined. Furthermore, we discuss how to choose between using new and repaired products to replace the failed products. We also present a numerical example to demonstrate the computation of the optimal , the decision variable of the HWP, and perform sensitivity analysis to gain somemanagerial insights for practitioners.
This talk is based on the joint work with Dr. Yu
Hung Chien of National Taichung University of Science and Technology. The paper is to appear on IIE Transactions.