replacement
US /rɪˈpleɪs.mənt/
UK /rɪˈpleɪs.mənt/

1.
the action or process of replacing something or someone
:
•
The replacement of old pipes is a major project.
•
We need to consider the replacement of the entire system.
2.
a person or thing that takes the place of another
:
•
The new manager is a good replacement for the old one.
•
This part is a perfect replacement for the broken one.