Impact of performance-based contracting on product reliability / Jose A. Guajardo in Management science, Vol. 58 N° 5 (Mai 2012)  

Public ISBD [article]  inManagement science > Vol. 58 N° 5 (Mai 2012) . - pp. 961-979 Titre : Impact of performance-based contracting on product reliability : An empirical analysis Type de document : texte imprimé Auteurs : Jose A. Guajardo, Auteur ; Morris A. Cohen, Auteur ; Sang-Hyun Kim, Auteur Année de publication : 2012 Article en page(s) : pp. 961-979 Note générale : Management Langues : Anglais (eng) Mots-clés : Reliability Maintenance repairs Empirical operations management Supply chain contracting Aerospace industry Résumé : Using a proprietary data set provided by a major manufacturer of aircraft engines, we empirically investigate how product reliability is impacted by the use of two different types of after-sales maintenance support contracts: time and material contracts (T&MC) and performance-based contracts (PBC). We offer a number of competing arguments based on the theory of incentives that establish why product reliability may increase or decrease under PBC. We build a two-stage econometric model that explicitly accounts for the endogeneity of contract choices, and find evidence of a positive and significant effect of PBC on product reliability. The estimation of our model indicates that product reliability is higher by 25%–40% under PBC compared to under T&MC, once the endogeneity of contract choice is taken into account. Our results are consistent with two mechanisms for reliability improvement under PBC: more frequent scheduled maintenance and better care performed in each maintenance event. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/58/5/961.abstract [article] Impact of performance-based contracting on product reliability : An empirical analysis [texte imprimé] / Jose A. Guajardo, Auteur ; Morris A. Cohen, Auteur ; Sang-Hyun Kim, Auteur . - 2012 . - pp. 961-979. Management Langues : Anglais (eng) in Management science > Vol. 58 N° 5 (Mai 2012) . - pp. 961-979 Mots-clés : Reliability Maintenance repairs Empirical operations management Supply chain contracting Aerospace industry Résumé : Using a proprietary data set provided by a major manufacturer of aircraft engines, we empirically investigate how product reliability is impacted by the use of two different types of after-sales maintenance support contracts: time and material contracts (T&MC) and performance-based contracts (PBC). We offer a number of competing arguments based on the theory of incentives that establish why product reliability may increase or decrease under PBC. We build a two-stage econometric model that explicitly accounts for the endogeneity of contract choices, and find evidence of a positive and significant effect of PBC on product reliability. The estimation of our model indicates that product reliability is higher by 25%–40% under PBC compared to under T&MC, once the endogeneity of contract choice is taken into account. Our results are consistent with two mechanisms for reliability improvement under PBC: more frequent scheduled maintenance and better care performed in each maintenance event. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/58/5/961.abstract

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