Component warranty- An overview

The warranty management process extends support for warranty tracking and claim administration.

Warranty terms and conditions are identified as a part warranty agreement. It contains the permissible conditions within which warranty claim can be made. A component warranty claim is a document raised on a component that has failed when it is under warranty. The claim is created with reference to the warranty coverage details that includes the warranty clauses and warranty terms defined for a particular component.

The component warranty claim is created with the details such as warranty reference, part failed date, the defects observed on the component, the supplier on whom the claim is raised, the work orders executed on the component and the expenses incurred on the component.

After creating, the claim is confirmed and released to the supplier for further processing. The supplier can agree for the settlement of the claim, or reject the claim.

Based on the supplier’s response or feedback, the warranty claim is revised. Once the details of the claim are freezed, the claim cannot be revised. The claim document is closed after the operator receives the claim amount or the component, or both.

Getting familiar with the activities