A Chronicle of Global Evolution of Product Warranty

This article provides a chronological account of the evolution of the concept of product warranty and its development over the four millennia to its present state at the dawn of twenty-first century A.D. This study examines how the concept of product warranty originated and illustrates how this concept was an integral element of accepted business practices in commerce and trade over the ages in almost all civilizations spanning the entire globe. The civilizations include the Babylonian and Assyrian civilizations of twenty-first century B.C., the Roman era of the fifth century B.C., Bavarian rule at the start of the Christian era, earlier Jewish period of the second century A.D., Hindu period of the fifth, Islamic era of the eighth, Russian period of the early tenth, church rule of the medieval times, customs of the English borough, and ultimately the post-industrial era of consumerism and today\u27s times of warranty legislation

Advantageous Cost Structure: A Strategic Costing Case Study

Today\u27 s increasingly competitive environment has prompted many fim1S to view organizational cost control as a strategic initiative through programs such as advantageous cost structure. Although strategic costing has been a concern of managers at the strategic level, finns are now trying to find ways to implement strategic initiatives at the operational level as well. These initiatives force organizations to address their major cost drivers and often result in improved processes, reduced number of non-value-added activities, improved supplier relations, and increased productivity. This article offers a case study of a large multinational manufacturing company that has successfully implemented advantageous cost structure in its effort to reduce costs and sustain competitive advantage