Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?

I think you will need another field which has dates in it, so, for
example, each day you record number of tools going out and then you
can add this in a cumulative sum column and subtract it from the
number of tools you have in your inventory.

It strikes me as a bit simplistic, though - if a customer wants to
hire a concrete mixer and you don't have any in stock (but you know
that you do have 300 other items), that's not really going to help -
shouldn't you also record the type of tools being hired out and then
keep track of each type?

Hope this helps.

Pete

On Feb 21, 7:09 pm, "oatmeal" wrote:
Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?

Yes the other fields are there, as far as type, but I just wanted to
get some sort of formula down.

So if I have 500 concrete mixers rented out, and I have 550 total in
inventory. With a 5% monthly sales growth that is approximately .2%
daily sales growth. With that in mind, each day you would be rented an
additional 1 mixer, and would run out of stock in 50 days.

My math could be wrong on that, it's not my strong suit. But if I can
understand how to put that formula together, I could also apply it to
return trends. So if on average I'm getting 30 mixers back a month, I
can extend the amount of days that I would exhaust my inventory.

It doesn't need to be 100% accurate since it's just forecast, but it
does have to spit out "number of days left" which is a weird variable
to pull.

Pete, if I did calculate it by real numbers by day, I still have the
same problem of predicting when I'm going to run out. I want to do the
math on paper, not in my head. Hopefully!




On Feb 21, 2:17 pm, "Pete_UK" wrote:
I think you will need another field which has dates in it, so, for
example, each day you record number of tools going out and then you
can add this in a cumulative sum column and subtract it from the
number of tools you have in your inventory.

It strikes me as a bit simplistic, though - if a customer wants to
hire a concrete mixer and you don't have any in stock (but you know
that you do have 300 other items), that's not really going to help -
shouldn't you also record the type of tools being hired out and then
keep track of each type?

Hope this helps.

Pete

On Feb 21, 7:09 pm, "oatmeal" wrote:

Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?

Hi Oatmeal,

I have to go out now, but I'll get back to you later on (unless
someone else does beforehand).

Pete

On Feb 21, 7:34 pm, "oatmeal" wrote:
Yes the other fields are there, as far as type, but I just wanted to
get some sort of formula down.

So if I have 500 concrete mixers rented out, and I have 550 total in
inventory. With a 5% monthly sales growth that is approximately .2%
daily sales growth. With that in mind, each day you would be rented an
additional 1 mixer, and would run out of stock in 50 days.

My math could be wrong on that, it's not my strong suit. But if I can
understand how to put that formula together, I could also apply it to
return trends. So if on average I'm getting 30 mixers back a month, I
can extend the amount of days that I would exhaust my inventory.

It doesn't need to be 100% accurate since it's just forecast, but it
does have to spit out "number of days left" which is a weird variable
to pull.

Pete, if I did calculate it by real numbers by day, I still have the
same problem of predicting when I'm going to run out. I want to do the
math on paper, not in my head. Hopefully!

On Feb 21, 2:17 pm, "Pete_UK" wrote:



I think you will need another field which has dates in it, so, for
example, each day you record number of tools going out and then you
can add this in a cumulative sum column and subtract it from the
number of tools you have in your inventory.

It strikes me as a bit simplistic, though - if a customer wants to
hire a concrete mixer and you don't have any in stock (but you know
that you do have 300 other items), that's not really going to help -
shouldn't you also record the type of tools being hired out and then
keep track of each type?

Hope this helps.

Pete

On Feb 21, 7:09 pm, "oatmeal" wrote:

Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?- Hide quoted text -

- Show quoted text -

Hello again.

To predict the number of days remaining you basically need to know the
number of items remaining in stock (50 in your example) and the rate
of hire - suppose this was 2 items per day, then to get at the number
of days before you run out of stock you need to divide the number of
items by the rate. In this example it would be 25 days.

If you have the total number of items in the inventory (in cell B1),
you can subtract from this the number of items that are out on hire
(let's say this is held in B2) to get the number remaining - if this
is in B3 then you can use this formula:

=B1 - B2

and you can have appropriate labels in A1 to A3 to tell you what the
numbers stand for.

I don't know how you will derive the average hire rate, as I am not
sure how your data is structured. If you have the number hired out on
a certain date and compare that with the number hired out on a
different date, then the average hire rate is:

(N2 - N1)/(date2 - date1) items per day,

so you can just divide this into the value of B3 to get the remaining
days - you might need to use rounding to get a sensible number of
days. If you want this expressed as a date, then you can just add the
number of days left to TODAY() and format the cell appropriately.

I hope this helps you.

Pete

On Feb 21, 7:43 pm, "Pete_UK" wrote:
Hi Oatmeal,

I have to go out now, but I'll get back to you later on (unless
someone else does beforehand).

Pete

On Feb 21, 7:34 pm, "oatmeal" wrote:



Yes the other fields are there, as far as type, but I just wanted to
get some sort of formula down.

So if I have 500 concrete mixers rented out, and I have 550 total in
inventory. With a 5% monthly sales growth that is approximately .2%
daily sales growth. With that in mind, each day you would be rented an
additional 1 mixer, and would run out of stock in 50 days.

My math could be wrong on that, it's not my strong suit. But if I can
understand how to put that formula together, I could also apply it to
return trends. So if on average I'm getting 30 mixers back a month, I
can extend the amount of days that I would exhaust my inventory.

It doesn't need to be 100% accurate since it's just forecast, but it
does have to spit out "number of days left" which is a weird variable
to pull.

Pete, if I did calculate it by real numbers by day, I still have the
same problem of predicting when I'm going to run out. I want to do the
math on paper, not in my head. Hopefully!

On Feb 21, 2:17 pm, "Pete_UK" wrote:

I think you will need another field which has dates in it, so, for
example, each day you record number of tools going out and then you
can add this in a cumulative sum column and subtract it from the
number of tools you have in your inventory.

It strikes me as a bit simplistic, though - if a customer wants to
hire a concrete mixer and you don't have any in stock (but you know
that you do have 300 other items), that's not really going to help -
shouldn't you also record the type of tools being hired out and then
keep track of each type?

Hope this helps.

Pete

On Feb 21, 7:09 pm, "oatmeal" wrote:

Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?- Hide quoted text -

- Show quoted text -- Hide quoted text -

- Show quoted text -

I haven't got time this morning to work thorugh this again. But I will
try a bit later. I just wanted to thank you for your "two cents."

-Steven

On Feb 21, 7:48 pm, "Pete_UK" wrote:
Hello again.

To predict the number of days remaining you basically need to know the
number of items remaining in stock (50 in your example) and the rate
of hire - suppose this was 2 items per day, then to get at the number
of days before you run out of stock you need to divide the number of
items by the rate. In this example it would be 25 days.

If you have the total number of items in the inventory (in cell B1),
you can subtract from this the number of items that are out on hire
(let's say this is held in B2) to get the number remaining - if this
is in B3 then you can use this formula:

=B1 - B2

and you can have appropriate labels in A1 to A3 to tell you what the
numbers stand for.

I don't know how you will derive the average hire rate, as I am not
sure how your data is structured. If you have the number hired out on
a certain date and compare that with the number hired out on a
different date, then the average hire rate is:

(N2 - N1)/(date2 - date1) items per day,

so you can just divide this into the value of B3 to get the remaining
days - you might need to use rounding to get a sensible number of
days. If you want this expressed as a date, then you can just add the
number of days left to TODAY() and format the cell appropriately.

I hope this helps you.

Pete

On Feb 21, 7:43 pm, "Pete_UK" wrote:

Hi Oatmeal,

I have to go out now, but I'll get back to you later on (unless
someone else does beforehand).

Pete

On Feb 21, 7:34 pm, "oatmeal" wrote:

Yes the other fields are there, as far as type, but I just wanted to
get some sort of formula down.

So if I have 500 concrete mixers rented out, and I have 550 total in
inventory. With a 5% monthly sales growth that is approximately .2%
daily sales growth. With that in mind, each day you would be rented an
additional 1 mixer, and would run out of stock in 50 days.

My math could be wrong on that, it's not my strong suit. But if I can
understand how to put that formula together, I could also apply it to
return trends. So if on average I'm getting 30 mixers back a month, I
can extend the amount of days that I would exhaust my inventory.

It doesn't need to be 100% accurate since it's just forecast, but it
does have to spit out "number of days left" which is a weird variable
to pull.

Pete, if I did calculate it by real numbers by day, I still have the
same problem of predicting when I'm going to run out. I want to do the
math on paper, not in my head. Hopefully!

On Feb 21, 2:17 pm, "Pete_UK" wrote:

I think you will need another field which has dates in it, so, for
example, each day you record number of tools going out and then you
can add this in a cumulative sum column and subtract it from the
number of tools you have in your inventory.

It strikes me as a bit simplistic, though - if a customer wants to
hire a concrete mixer and you don't have any in stock (but you know
that you do have 300 other items), that's not really going to help -
shouldn't you also record the type of tools being hired out and then
keep track of each type?

Hope this helps.

Pete

On Feb 21, 7:09 pm, "oatmeal" wrote:

Just as an example, let's say I'm a rental company that rents tools
for long periods of time. I want to understand how many tools are
being rented, how many I have left in inventory still available to
rent, and when I am going to exhaust my inventory. So for instance, I
have the following three primary fields:

1. Number of tools out for rent.
2. Number of tools in inventory still available for rent.
3. Sales growth month over month.

So using the sales growth, I should be able to roughly predict when I
am going to run out of inventory (assuming my sales growth is going to
continue to rise.)

I can't wrap my head around the logic to be honest. The variable I
want is the number of days left until I am going to run out of tools
for run.

Any Ideas?- Hide quoted text -

- Show quoted text -- Hide quoted text -

- Show quoted text -