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Predicting Warranty Expense Using Reliability Models (MFGN63Z)

Presented by: Steven Wachs
(*) Single User Price. For multiple users please call 1-844-384-4744
Pre Recorded Webinar
60 minutes
Event Description
See the sneak peek before you buy!

Forecasting of Future Failures using Failure Data – The Benefits

Manufacturers design and develop products based on an expected product lifetime. Many manufacturers conduct extensive reliability testing to minimize the risk that products will fail prematurely. Despite these efforts, unexpected failures occur due to design flaws, manufacturing process changes, or misunderstanding of the product use environment. Premature failures alienate customers and significantly impair brand and company reputation. Failure data may be easily modeled to forecast future failures and identify emerging issues that present financial risks to the organization.

Forecasting of future failures may be used to:

  • Quantify expected warranty costs
  • Accrue for future liabilities
  • Set appropriate warranty periods
  • Forecast spare parts requirements
  • Identify emerging product issues
  • Manage customer expectations and customer relationships

Attend this webinar by expert speaker Steven Wachs, who will provide specific knowledge required to develop a forecast of future expected failures. Although software will be typically used for this task, the underlying concepts and methods are explained in some detail. Participants will be equipped to apply life data analyses to forecast future failures as well as handle common modeling issues such as the presence of non-homogeneous groups in the data.

Session Highlights

In this program, you'll learn how to:

  • Make use of failure data to develop models to predict expected future failures
  • Develop a Warranty Forecast
  • Account for Model Uncertainty
  • Identify Non-Homogeneous groups in the data and account for the impact on the forecast
  • React quickly to emerging field concerns

Who should attend

  • Product Development Personnel
  • Product Engineers / Managers / Executives
  • Finance Staff
  • Reliability Professionals
  • Quality Personnel
About Our Speaker(s)

Steven Wachs | Reliability Analysis SpeakerSteven Wachs
Steven Wachs has 25 years of wide-ranging industry experience in both technical and management positions. Steve has worked as a statistician at Ford Motor Company where he has extensive experience in the development of statistical models, reliability analysis, designed experimentation, and statistical process control.... More info

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    Event Title: Predicting Warranty Expense Using Reliability Models
    Presenter(s): Steven Wachs

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