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A geometric process warranty model using a combination policy

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  • Yuan Lin Zhang
  • Guan Jun Wang

Abstract

This paper proposes a geometric process warranty model. Assume that a combination policy (W, T) is applied after selling a product, so that a free warranty is offered in [0, W), followed by a pro-rata warranty in [W, T). Assume further the successive operating times (repair times) of the product form a decreasing (increasing) geometric process. The average cost rate of the product to the manufacturer and a consumer can be derived respectively. For exponential distribution case, the explicit formulas of the average cost rate are obtained, and an finite algorithm for determination of an optimal combination policy is suggested.

Suggested Citation

  • Yuan Lin Zhang & Guan Jun Wang, 2019. "A geometric process warranty model using a combination policy," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 48(6), pages 1493-1505, March.
    • Handle: RePEc:taf:lstaxx:v:48:y:2019:i:6:p:1493-1505
    DOI: 10.1080/03610926.2018.1433853
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    Cited by:

    1. Liu, Peng & Wang, Guanjun, 2023. "Generalized non-renewing replacement warranty policy and an age-based post-warranty maintenance strategy," European Journal of Operational Research, Elsevier, vol. 311(2), pages 567-580.
    2. Liu, Peng & Wang, Guanjun & Su, Peng, 2021. "Optimal maintenance strategies for warranty products with limited repair time and limited repair number," Reliability Engineering and System Safety, Elsevier, vol. 210(C).

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