Can anyone help me with this? Watch

shmit88
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Hi guys,

I wonder if someone could help me with my issue or perhaps there is an equation/algorithm I am not aware of. (I think it's probability but I have tried and still can't use that to work it out).

I am currently working on a business idea (I am a student but this is a side venture I am looking into) and I am trying to calculate how often new stock would need to be bought, but I just can't seem to work it out as there are a number of different variables.

The business idea is a subscription-based rental business, similar to the Netflix business model but the products are physically delivered to homes. Customers will pay a monthly subscription and be able to rent out a product for as long as they like, although I estimate the average turnaround time will be 10 days, therefore 3 rentals a month.

I have determined that I should stock 12 different types of products with 3 of each and I have also predicted that the product itself will be capable of rental 18 times before it requires writing off/replacing.

Is there a way I can make a calculated prediction of the minimum amount of days/weeks before a product needs replacing, such as an equation or algorithm.

To summarise, I need an equation for calculating when replacements of products are required, i.e. the average amount of time based on x amount of customers.

x amount of customers.
36 products in total.
an average of 3 product rentals a month.
product lifespan of 18 rentals.
amount of days before product requires replacing = ?

I really hope someone can help with an equation, I would very much appreciate it!

Kind Regards,

Calum
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shmit88
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Anyone?
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Mr M
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(Original post by shmit88)
Anyone?
As you are running a business you should expect to pay an appropriate commercial rate for this work. It feels a bit like you are dumpster diving in the F38 intellectual trashcan.
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