DEVELOPMENT OF VEHICLES MAINTENANCE AND REPLACEMENT SCHEMES: CASE OF A TRANSPORT COMPANY

Abstract

This research work developed optimal maintenance and replacement schemes for a transport company vehicles. In this direction, dynamic programming technique was used to analyze the operational costs of the said vehicles as to obtain the optimal replacement policy of the vehicles when efficiently utilized. The results showed that non-adherence to the replacement policy would make the company to incur the loss of [N21,894,500, N8,750,845, N8,616,176, N20,730,300, N23,295,750, N36,565,900, N18,438,28] for Nissan Urvan, Sienna ,Peugeot Expert, J5, Ford bus, Toyota Hiace, Taxi cab vehicles respectively. It is, however, interesting to note that, adherence to the policy year replace action would yield to the company the desired profit of [N18,613,400, N7,264,015, N5,862,286, N16,329,730, N18,190,395, N33,837,700, N5,482,395] on the said vehicles. It is strongly recommended that the company should dispose of all its Nissan Urvan vehicles stated herein after eleven (11) years of usage, Sienna vehicles after six (6) years of usage, Peugeot Expert vehicles after seven (7) years of usage, J5 bus vehicles after eight (8) years of usage, Ford bus vehicles after seven (7) years of usage, Toyota Hiace vehicles after eight years (8) and Taxi Cab vehicles after eight (8) years of usage.