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Some renewal theory results with application to fleet warranties

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  • Nicholas Zaino
  • Toby Berke

Abstract

The fleet warranty guarantees the purchaser of a large population of like items that the mean life of the fleet will meet or exceed some negotiated mean μL. If the mean life is less than μL, compensation may be given in terms of a number of free replacement parts R. The expected number of replacements E[R] is studied based upon how the mean life of items in the field is determined and on whether the sampling window starts at time t = 0 (ordinary renewal process) or at some arbitrarily large time w (equilibrium renewal process). Properties of E[R] are compared and examples are given. © 1994 John Wiley & Sons, Inc.

Suggested Citation

  • Nicholas Zaino & Toby Berke, 1994. "Some renewal theory results with application to fleet warranties," Naval Research Logistics (NRL), John Wiley & Sons, vol. 41(4), pages 465-482, June.
    • Handle: RePEc:wly:navres:v:41:y:1994:i:4:p:465-482
    DOI: 10.1002/1520-6750(199406)41:43.0.CO;2-8
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    References listed on IDEAS

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    1. John W. Mamer, 1982. "Cost analysis of pro rata and free‐replacement warranties," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 29(2), pages 345-356, June.
    2. Wallace R. Blischke & Ernest M. Scheuer, 1975. "Calculation of the cost of warranty policies as a function of estimated life distributions," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 22(4), pages 681-696, December.
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    Cited by:

    1. D. Murthy, 2006. "Product warranty and reliability," Annals of Operations Research, Springer, vol. 143(1), pages 133-146, March.
    2. Murthy, D. N. P. & Djamaludin, I., 2002. "New product warranty: A literature review," International Journal of Production Economics, Elsevier, vol. 79(3), pages 231-260, October.
    3. Jie Mi, 1999. "Comparisons of renewable warranties," Naval Research Logistics (NRL), John Wiley & Sons, vol. 46(1), pages 91-106, February.

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