Flexible decision models for a two-dimensional warranty policy with periodic preventive maintenance

doi:10.1016/j.ress.2017.01.012

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	Flexible decision models for a two-dimensional warranty policy with periodic preventive maintenance
	Wang, Jinting 1; Zhou, Zhuang 1; Peng, Hao2
	2017-06-01
发表期刊	RELIABILITY ENGINEERING & SYSTEM SAFETY
ISSN	0951-8320
卷号	162 页码:14-27
摘要	We study the consumer's and the manufacturer's optimal strategies for items sold with periodic preventive maintenance (PM) under a two-dimensional warranty policy. The cooperative and non-cooperative interactions between the manufacturer and the consumer are investigated for both the base warranty (BW) period and the extended warranty (EW) period. Under the BW, we propose a new upgrade model where the cost of PM is shared by two sides. In the EW period, consumers are assumed to have the option to either accept or reject PM at each time based on his utility. Two upgrade models are built and the revenue functions are analyzed. Profit maximization and cost minimization for both sides are analyzed by a game-theoretic approach. It is shown that the manufacturer's and the consumer's decisions are different, so the induced hazard rate functions are also different. In static and dynamic scenarios, we derive the equilibrium number of PM, the equilibrium value of acceptance probability and the equilibrium upgrade level for both the BW and the EW cases. Numerical examples are discussed to demonstrate the applicability of the methodologies. The results about the optimal solutions of the expected profit functions for the consumers and the manufacturer are provided.
关键词	Warranty policy Periodic preventive maintenance Failure rate model Nash equilibrium Stackelberg equilibrium Upgrade level
DOI	10.1016/j.ress.2017.01.012
语种	英语
资助项目	National Natural Science Foundation of China[71571014] ; National Natural Science Foundation of China[71390334] ; National Center for Mathematics and Interdisciplinary Sciences, Chinese Academy of Sciences ; Chinese Ministry of Science and Technology[2016YFF0203801]
WOS研究方向	Engineering ; Operations Research & Management Science
WOS类目	Engineering, Industrial ; Operations Research & Management Science
WOS记录号	WOS:000396947900002
出版者	ELSEVIER SCI LTD
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/25164
专题	系统科学研究所
通讯作者	Wang, Jinting
作者单位	1.Beijing Jiaotong Univ, Dept Math, Beijing 100044, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, Inst Syst Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Wang, Jinting,Zhou, Zhuang,Peng, Hao. Flexible decision models for a two-dimensional warranty policy with periodic preventive maintenance[J]. RELIABILITY ENGINEERING & SYSTEM SAFETY,2017,162:14-27.
APA	Wang, Jinting,Zhou, Zhuang,&Peng, Hao.(2017).Flexible decision models for a two-dimensional warranty policy with periodic preventive maintenance.RELIABILITY ENGINEERING & SYSTEM SAFETY,162,14-27.
MLA	Wang, Jinting,et al."Flexible decision models for a two-dimensional warranty policy with periodic preventive maintenance".RELIABILITY ENGINEERING & SYSTEM SAFETY 162(2017):14-27.