A method for enhanced collision avoidance by a mobile industrial vehicle of a high value asset based upon multi-sensor data fusion, the high value asset having one or more reflective beacons (105a-105d) disposed relative to the high value asset, comprising the steps of: (a) detecting, with a LiDAR sensor (305f; 2005a) on the mobile industrial vehicle, one or more of the reflective beacons (105a-105d) relative to the mobile industrial vehicle; (b) detecting, with a camera sensor (305d, 305e; 2005b) on the mobile industrial vehicle, one or more objects relative to the mobile industrial vehicle; (c) fusing, by a sensor processing system on the mobile industrial vehicle, the sensor data detected by each of the LiDAR sensor (305f; 2005a) and the camera sensor (305d, 305e; 2005b) to identify a relative location of the one or more of the reflective beacons (105a-105d) based upon a multi-sensor fused data source using the detected LiDAR sensor data and the detected camera sensor data; (d) determining, by a model predictive controller (315a; 2015b) on the mobile industrial vehicle, a plurality of control solutions, wherein each of the control solutions defines a threshold allowable speed for the mobile industrial vehicle at discrete moments based upon an estimated path to a breaching point radially projected from a verified relative location of the one or more of the reflective beacons (105a-105d); (e) identifying, by the model predictive controller (315a; 2015b), one of the control solutions as an optimal solution based upon a performance cost function, wherein the one of the control solutions is associated with an optimal threshold allowable speed; and (f) responsively actuating, by a vehicle actuation system on the mobile industrial vehicle, a vehicle speed control element when the mobile industrial vehicle exceeds the optimal threshold allowable speed to cause the mobile industrial vehicle to alter movement operations within a time window and achieve a desired movement operation relative to a current speed of the mobile industrial vehicle. (a) detecting, with a LiDAR sensor (305f; 2005a) on the mobile industrial vehicle, one or more of the reflective beacons (105a-105d) relative to the mobile industrial vehicle; (b) detecting, with a camera sensor (305d, 305e; 2005b) on the mobile industrial vehicle, one or more objects relative to the mobile industrial vehicle; (c) fusing, by a sensor processing system on the mobile industrial vehicle, the sensor data detected by each of the LiDAR sensor (305f; 2005a) and the camera sensor (305d, 305e; 2005b) to identify a relative location of the one or more of the reflective beacons (105a-105d) based upon a multi-sensor fused data source using the detected LiDAR sensor data and the detected camera sensor data; (d) determining, by a model predictive controller (315a; 2015b) on the mobile industrial vehicle, a plurality of control solutions, wherein each of the control solutions defines a threshold allowable speed for the mobile industrial vehicle at discrete moments based upon an estimated path to a breaching point radially projected from a verified relative location of the one or more of the reflective beacons (105a-105d); (e) identifying, by the model predictive controller (315a; 2015b), one of the control solutions as an optimal solution based upon a performance cost function, wherein the one of the control solutions is associated with an optimal threshold allowable speed; and (f) responsively actuating, by a vehicle actuation system on the mobile industrial vehicle, a vehicle speed control element when the mobile industrial vehicle exceeds the optimal threshold allowable speed to cause the mobile industrial vehicle to alter movement operations within a time window and achieve a desired movement operation relative to a current speed of the mobile industrial vehicle.