Benchmarking warranty performance can be a very valuable exercise to gain an independent perspective on how well you are doing compared to other companies. Bill Pollock, President & Principal Consulting Analyst, Strategies for Growth (SFG), has been doing a Warranty benchmark survey for few years and currently conducting a Benchmark Update Survey for 2019. Mize Warranty Insights caught up with Bill to learn more about the Benchmarking survey and process.
Connected Customer Experience
This blog post is based on workshop session by Mize at ENG’s Automotive Warranty Management conference on Oct 16th & 17th in Dearborn, MI. You can download the workshop presentation or read the summary blog post about the conference.
The ENG’s 3rd annual Automotive Warranty Management USA, sponsored by Mize, took place on Oct 16th and 17th in Dearborn, MI. The event attracted over 110 warranty leaders from the automotive industry. This blog post summarizes the key themes, presentations, metrics, best practices, and technologies discussed during the conference.
Field Service organizations have a direct impact on customer satisfaction and retention, and can help generate higher margin revenues from the loyal customer base. The field service experts from Mize have identified 5 things customer-centric field service organizations do differently to be more effective in delivering a differentiated customer experience.
Replacement Parts cost represents 60% or more of the warranty claim expense. Studies indicate that up to 15% of the parts cost is excessive resulting from:
- replacing good parts leading to NTF (No Trouble Found) issues
- replacing parts when they can be repaired at a lower cost
WSJ article on annual logistics report finds:
- Costs for freight have risen steeply since the middle of last year because of rising interest rates, higher price of fuel, and driver capacity constraints
- Average freight rate per mile have risen between 20% and 30% so far this year