Description / objective
Fleet renewal is planned in relation to the intended life cycle of specific vehicle types, and the levels of their utilization, though it may then be constrained by the availability of funding. It involves the specification of vehicles for the intended application, and their procurement and commissioning into service.
This function also covers the scrapping and disposal processes for the vehicles being replaced, or their external sale if that doesn’t pose a threat to the business. Finally, financing options and modalities need to be explored and implemented.
Advantages and cautions