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A proposed model for vehicle replacement policy
Published June 14, 1999 by ISATA - Dusseldorf Trade Fair in United Kingdom
Event: ISATA 1999
It is well-known that after a certain period of the vehicle age its elements deteriorate with time which make the cost of doing maintenance regimes very high. Therefore, the logic decision is to replace the current vehicle by new one with the aims of minimum failure and maximum income. However, the objective of this paper is to introduce a proposed model for the vehicle replacement policy based on the concept of integer linear programming. A real application is presented herein to indicate the suitability of the model. The application results reveal that the replacement decision can be known at the end of the ten years from the policy.