한국형 레몬법을 이용한 이차원적 보증정책 연구

Purpose: The purpose of this research is to develop a maintenance cost model which is applicable for Korean Lemon Law and to optimize relevant decision variables such as length of warranty period and imposed warranty premium price for the vehicles. Methods: We propose a two-dimensional warranty policy based on age and usage from the manufacturer’s perspective which can be implemented to reduce the warranty cost of a repairable product incurred during the warranty period. We consider both minimal repair service and refund offered under the two-dimensional warranty services. The numerical application is implemented using the proposed approach. Results: This paper shows that when the threshold for the critical component failure increases, the expected cost rate increases while the optimal length of warranty period decreases. On the contrary, when the threshold for the noncritical component failure increases, the expected cost rate decreases while the optimal length of warranty period decreases. Conclusion: We find the optimal length of warranty period which could be very helpful for the business managers to make an appropriate decision for the manufacturer to minimize the total warranty cost and to maximize the customer’s satisfaction.