Google Drive now supports versioning of uploaded files (PDFs, images, etc., not Google Drive native files). This has several benefits, including:
- Links to the files remain consistent.
- A change log of who changed the file and when.
- Reducing required storage capacity.
To replace a file with a new version:
- Click once on the file you wish to replace to highlight it.
- Click the three vertical dots to the right.
- Click File information.
- Click Manage versions. The version history displays.
- Click the Upload new version button.
- Upload the replacement file.
Further reading: