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Abstract Heavy vehicles operating for less than truckload (LTL) carriers are utilized to the maximum extent possible for the operator to maximize vehicle return on investment. However, the decision to purchase new vehicles, reallocate the vehicle, or retire the vehicle is based on complex and interacting factors like performance degradation, total cost of ownership, new regulatory pressures, and maintenance costs. The problem of optimizing fleet capacity is well suited to a model‐based systems engineering approach. Using SysML as the language and MagicGrid as the method, a model for fleet vehicle replacement and utilization was built to understand the best way to maximize and grow shipping capacity. The process started with identifying stakeholders and their needs and ended with system parametric models capable of computing costs. This model has the potential to optimize operating costs for fleets and maximize the use of the vehicle assets. Not only do these optimizations improve company financial performance, they reduce the need to unnecessarily replace expensive equipment, which is a more sustainable business practice.
Bumgarner et al. (Mon,) studied this question.