Fleet Management Replacement and Lifecycle Management
The timely replacement of vehicles and equipment is a process that requires the ability to predict asset lifecycles based on costing information, utilization, and asset age. The industry standards for asset lifecycles are produced annually by Mercury Associates, Inc. which are calculated using the CARCAP modeling resource. These numbers are used to establish the expected date for a type or class of equipment, which can then be used to identify replacement dates and funding requirements.
Funding requirements are also an issue, because many organizations, especially government, purchase vehicles with cash. The ad hoc nature and traditional low funding levels with cash has put many operations in an aged fleet. This lack of adequate funding for replacement can also result in higher maintenance costs due to aged vehicles.
Read more about this topic: Fleet Management
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