ABSTRACT
In the consumer goods context, where statute provides in many countries for a manufacturer's warranty, a warranty usually connotes that the warrantor may repair or replace a product that has developed a fault during the warranty period as a result of a defect in design or manufacture at the warrantor's discretion. A guarantee is a formal assurance that certain conditions will be fulfilled, especially that a product will be of a specified quality. A warranty is a written guarantee promising to repair or replace an article if necessary within a specified period. Warranty maybe thought of as customer dissatisfaction. It is a multi-billion dollar a year opportunity for organizations: it is an opportunity to know about warranty, understand it, and apply its principles so that the organization can have less warranty, which will result in improved profits. Perhaps the best warranty spend reduction is a methodology for detection.
