How much do warranty issues end up costing your company? For some, it can amount to tens of millions of dollars—money that could be much better spent on researching and developing new products or making other investments in the business. Along with the financial toll, excessive warranty claims can damage customer trust and threaten your market position. Simply put, warranty costs are an expense you want to keep as low as possible.
This article show top, median, and bottom performance levels on this metric leveraging data from APQC's Open Standards Benchmarking and provides two proven strategies to reduce warranty costs as a percentage of sales.