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A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or refurbishment of defective equipment/units. Spare parts are an important feature of logistics engineering and supply chain management , often comprising dedicated spare parts management systems.
In retail consumer electronics, extended warranties cost 20% to 30% of the price, and give sales associates up to 15% commission at some retailers. [ 3 ] [ 4 ] Consumer advocate groups, such as the non-profit Consumers Union , advise against purchasing extended warranties unless they can be purchased at manufacturers cost.
With the invention of synthetic refrigerants based mostly on a chlorofluorocarbon (CFC) chemical, safer refrigerators were possible for home and consumer use. Freon led to the development of smaller, lighter, and cheaper refrigerators. The average price of a refrigerator dropped from $275 to $154 with the synthesis of Freon.
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Aims to make it easier and more cost-effective for consumers to repair their goods. The rules are not yet finalized as they must be adopted by member states and approved by the Council. [43] They seek to incentivize repair instead of replacement for consumer devices. [44] 2024 Oregon bans parts pairing starting in 2025 [16]
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