Development of Vehicle Replacement Programme for a Road Transport Company

Offiong, A.; Akpan, W. A.; Ufot, E.
February 2013
International Journal of Applied Science & Technology;Feb2013, Vol. 3 Issue 2, p31
Academic Journal
This paper discusses a practical replacement method for a transport company. A vehicle annual maintenance cost and depreciation costs were formulated and a replacement model that takes into account of the value of money was applied to determine a suitable replacement interval for various groups of vehicle. A fare model was formulated to determine appropriate fares that accommodate a profit margin and successful vehicle replacement programme.


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