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:: Volume 22, Issue 2 (3-2018) ::
Andishe 2018, 22(2): 21-26 Back to browse issues page
Bayesian approaches for optimizing warranty length of products
Abstract:   (1939 Views)

‎Today's manufacturers face increasingly intense competition and to remain profitable they needed to design‎, ‎develop and produce high reliable products‎. ‎One way by which manufacturers attract consumers to their products is by providing warranties on the products‎. ‎Consumers are willing to purchase a longer warranty period product‎. ‎While maintaining such a policy needs very high cost for manufacturers‎. ‎Determining the appropriate warranty length becomes an important decision problem for manufacturers‎. ‎In this article‎, ‎by Bayesian approach and using an appropriate utility function‎, ‎we determine the optimal warranty lengths for product with exponential life time distribution‎. 

Keywords: ‎Dissatisfaction cost‎, ‎economic benefit‎, ‎posterior predictive distribution‎, ‎warranty cost‎.
Full-Text [PDF 301 kb]   (643 Downloads)    
Type of Study: Research | Subject: Special
Received: 2016/11/21 | Accepted: 2018/04/9 | Published: 2018/04/9
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Bayesian approaches for optimizing warranty length of products. Andishe. 2018; 22 (2) :21-26
URL: http://andisheyeamari.irstat.ir/article-1-462-en.html

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Volume 22, Issue 2 (3-2018) Back to browse issues page
مجله اندیشه آماری Andishe _ye Amari
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