Magic of Reliability
Most senior managements don’t know that Reliability can get them high profits very quickly. And therefore high return on investment. Hyundai’s Ten Year Warranty. Their market share was going downhill for over ten years, suddenly it started to go upwards instead. All because of high reliability!
The impact of reliability extends far beyond reliability itself. It establishes the cost of warrants, repair, maintenance, logistics and the indirect costs of unavailability, downtime, and the COST OF SAFETY RECALLS which runs to hundreds of million dollars., and throughout the life of the product. This paper presents an outside-the-box view of how to get the best results by aiming at twice the life in the product specification and by preventing the high-risk failure modes resulting in an extraordinary return on investment, as much as 10,000%. [Read more…]