Published Date : Apr 01, 2016
In today’s times, warranty management is one of the most tangible customer-oriented activities that offers manufacturers the opportunity to improvise customer experience by means of automation of administration of terms and contracts. Other than this, warranty management encapsulates “on-the-ground” failure instances for a know-how for future product designs. Nevertheless, the cost of these systems continue to soar. Additionally, with increasing internet penetration and an increasing number of manufacturing firms heading towards automation of warranty claim processes, it will result in spurring growth of the warranty management system market.
Amongst all, it is high-tech and consumer electronics companies that are worst affected on account of the escalating prices of warranty management costs partially due to rapidly falling prices, rising product complexity, and increasing demands from quality-focused customers.
In warranty management systems (WMS), the value chain typically crisscrosses an array of multiple business operations within the manufacturing organization: product development, product management, sales, service, supply chain management, contract management, finance, claims processing, and electronic distribution. The operational functions in WMS are divided as follows:
Currently, cloud-based WMS are gaining prominence due to the increased penetration of the internet across virtually all industry verticals.