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Investment in new product reliability

Author

Listed:
  • Murthy, D.N.P.
  • Rausand, M.
  • Virtanen, S.

Abstract

Product reliability is of great importance to both manufacturers and customers. Building reliability into a new product is costly, but the consequences of inadequate product reliability can be costlier. This implies that manufacturers need to decide on the optimal investment in new product reliability by achieving a suitable trade-off between the two costs. This paper develops a framework and proposes an approach to help manufacturers decide on the investment in new product reliability.

Suggested Citation

  • Murthy, D.N.P. & Rausand, M. & Virtanen, S., 2009. "Investment in new product reliability," Reliability Engineering and System Safety, Elsevier, vol. 94(10), pages 1593-1600.
    • Handle: RePEc:eee:reensy:v:94:y:2009:i:10:p:1593-1600
    DOI: 10.1016/j.ress.2009.02.031
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    References listed on IDEAS

    as
    1. Murthy, D.N.P. & Hagmark, P.-E. & Virtanen, S., 2009. "Product variety and reliability," Reliability Engineering and System Safety, Elsevier, vol. 94(10), pages 1601-1608.
    2. Murthy, D.N.P. & Østerås, T. & Rausand, M., 2009. "Component reliability specification," Reliability Engineering and System Safety, Elsevier, vol. 94(10), pages 1609-1617.
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    Citations

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    Cited by:

    1. Wang, Xin & Xie, Wei & Ye, Zhi-Sheng & Tang, Loon-Ching, 2017. "Aggregate discounted warranty cost forecasting considering the failed-but-not-reported events," Reliability Engineering and System Safety, Elsevier, vol. 168(C), pages 355-364.
    2. Wang, Yukun & Liu, Yiliu & Liu, Zixian & Li, Xiaopeng, 2017. "On reliability improvement program for second-hand products sold with a two-dimensional warranty," Reliability Engineering and System Safety, Elsevier, vol. 167(C), pages 452-463.
    3. Jianing Wu & Shaoze Yan, 2014. "An approach to system reliability prediction for mechanical equipment using fuzzy reasoning Petri net," Journal of Risk and Reliability, , vol. 228(1), pages 39-51, February.
    4. Crookston, Kevin A. & Mark Young, Timothy & Harper, David & Guess, Frank M., 2011. "Statistical reliability analyses of two wood plastic composite extrusion processes," Reliability Engineering and System Safety, Elsevier, vol. 96(1), pages 172-177.
    5. Mobin, Mohammadsadegh & Li, Zhaojun & Cheraghi, S. Hossein & Wu, Gongyu, 2019. "An approach for design Verification and Validation planning and optimization for new product reliability improvement," Reliability Engineering and System Safety, Elsevier, vol. 190(C), pages 1-1.
    6. Peng, Weiwen & Huang, Hong-Zhong & Li, Yanfeng & Zuo, Ming J. & Xie, Min, 2013. "Life cycle reliability assessment of new products—A Bayesian model updating approach," Reliability Engineering and System Safety, Elsevier, vol. 112(C), pages 109-119.
    7. Zhi-Sheng Ye & Loon-Ching Tang & Min Xie, 2014. "Bi-objective burn-in modeling and optimization," Annals of Operations Research, Springer, vol. 212(1), pages 201-214, January.
    8. Gongyu Wu & Zhaojun (Steven) Li & Pan Liu, 2022. "Risk-informed reliability improvement optimization for verification and validation planning based on set covering modeling," Journal of Risk and Reliability, , vol. 236(2), pages 357-370, April.

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