Assessing Product Reliability
8.1.1. Why is the assessment and control of product reliability important?
|Reliability is a major economic factor in determining a product's success||Accurate prediction and control
of reliability plays an important role in the profitability of a product.
Service costs for products within the warranty period or under a service
contract are a major expense and a significant pricing factor. Proper spare
part stocking and support personnel hiring and training also depend upon
good reliability fallout predictions. On the other hand, missing reliability
targets may invoke contractual penalties and cost future business.
Companies that can economically design and market products that meet their customers' reliability expectations have a strong competitive advantage in today's marketplace.