 Product warranties should provide manufacturers with valuable information to use in improving product quality and customer satisfaction. Currently, the warranty claims process for many organizations is cumbersome, not cost-effective and not customer-focused. Soltec’s strategy is to eliminate the warranty claim process and establish a warranty allowance program for all customers. In conjunction with this program establish quality partnerships with a sample of the customer base to provide technical support services, engineering, and suppliers with data of failures. The organization should establish a warranty allowance based on the previous 12 month warranty history as a percentage of annual sales. The warranty rate is then adjusted monthly based on 12 month rolling sales and warranty activity.
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- Establishing a warranty allowance requires a significant amount of historical data
- Customers must be educated on the new process in order to completely understand the benefits
- Customer discipline must be enforced to achieve desired results
- Additional high level analysis is needed for success
- Warranty data is required to support the daily activities of consumer relations and technical support services
- Lower total administrative warranty cost
- Shortens warranty processing time
- Improves customers’ cash flow
- Provides quicker feedback of potential field concerns
- Eliminates processing individual claim / financial credit transactions.
- Reduces administrative cost for customers by eliminating the processing of invoice and credit memo for parts under warranty
- Reduces a number of day to day emotional issues (disputes)-Your organization becomes easier to do business with
- Improves data integrity and timing for reporting measurements
- Reduces the amount of postage, fax and phone calls to resolve claims
- Customers become more of a partner and closer to your business
- Process changes from transactional focus to analytical
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Address:
Soltec, Inc.
671 E. Big Beaver Road,
Suite 205
Troy, MI 48083
Phone:
(248) 689-7777
Email:
info@soltecinc.com
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