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'it has replaced' is correct and can be used in written English.
You can use it when you want to explain that one thing has replaced another. For example, "Computers have replaced typewriters in most offices."
Exact(60)
It has replaced its chief executive: Frédéric Oudea (pictured) took over from Daniel Bouton, who remains SocGen's chairman, in May.
Ahold has said it has found a total of $1.1 billion in accounting irregularities, and it has replaced its chief executive, chief financial officer and other executives.
Honda would not disclose how many batteries it has replaced; a spokesman, Chris Naughton, said that "replacement rates for parts are proprietary".
Meanwhile Merlin Entertainments celebrated its first day in the FTSE 100 - it has replaced Friends Life - with a 1.6p rise to 456.7p.
Recently, Google revealed that it has replaced the 10-year old MapReduce with its new systems (e.g., DataFlow) which can provide better performances and support more sophisticated applications.
Perhaps it's not for polite company: it has replaced syphilis.
Apple would not say whether it has replaced him.
It has replaced how to write a business plan with hands-on Lean Startup methods.
In doing so, it has replaced the "rules of the road" function of custom.
It has replaced them, apologized profusely, and is now printing a second print run.
It has replaced the incurred-loss method with an "expected-loss" approach similar to Spain's.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com