The period of time (typically) elapsing between the purchase of a new asset, piece of equipment, etc., and its replacement due to wear or obsolescence.
Origin
Late 19th century; earliest use found in Canadian Magazine.
Definition of replacement period in US English:
replacement period
noun
The period of time (typically) elapsing between the purchase of a new asset, piece of equipment, etc., and its replacement due to wear or obsolescence.
Origin
Late 19th century; earliest use found in Canadian Magazine.