Warranty analysis of a two-component system with type I stochastic dependence
Journal article, Peer reviewed
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Date
2017Metadata
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Original version
10.1177/1748006X17742775Abstract
This article develops the warranty cost analysis of a two-component in-series system with stochastic dependence. From the perspectives of both the manufacturer and the consumer, the short-run total profits and costs under the non-renewing free replacement (non-renewing free replacement warranty) policy and the renewing free replacement warranty policy are derived, respectively. Numerical examples are given showing the impact of the failure dependence to both the consumer and the manufacturer.