Warranty Cost Management: Guarantee Satisfaction & Profitability
TechSee
AUGUST 15, 2021
Product warranty management has become an area of focus for many manufacturers. When a product breaks or does not function properly, the OEM is typically liable for the repair, replacement, or refund of that item according to the terms of the warranty. Aside from the high direct costs involved, warranty claims incur significant indirect costs such as: . reduction of market share . decrease in customer satisfaction . lower levels of brand loyalty.
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