In order to ensure product to meet its reliability goal, product field reliability level and potential significant field reliability issues should be monitored consistently after its deployment to the market. In this study, a complete field reliability monitoring system and field reliability issues investigation process based on statistical analysis on failure data and failure rate assessment are developed. Built on information from producer's internal reliability monitoring and customer's feedback of reliability issues, the product and its components field failure rates are compared with corresponding reliability targets, a decision can be generated for initiation of root cause investigation and development of corrective action. Reliability engineer can effectively prevent and resolve field reliability issues to meet customer expected product reliability level. This study uses switching power supply as a case study to perform detailed exploration on the research objectives.