Development of Vehicle Replacement Programme for a Road Transport Company
A. Offiong; Akpan, W.A; Ufot , E.

Abstract
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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