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Rutgers Bike Share

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by

Siddarth Kannan

on 21 April 2015

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Transcript of Rutgers Bike Share

Rutgers Bike Share
Implementation
Mathematical Modeling
Conclusion
Quality can be ensured using Lean six sigma techniques and inventory managed by JIT

Technology is a at point where it is able to meet the needs of the bike share program.

Bike share programs have been demonstrated across many cities around the world and Rutgers is a potential market
Introduction
What is Bike Share!?!

Why is it Bike "Share"!?!

How is it Bike Share?!

Where is Bike Share!?!




General Description of Bike Share
Value and benefits of Bike Share
Successful Programs
1. Velib
Implemented in 2007
~20000 Bikes, ~1800 of Stations
Funded through JCD (advertising) & membership

2. CitiBike
Implemented in 2013
6000 Bikes, 330 of Stations
Funded through CitiBank, MasterCard (advertising)
Key considerations

Bike station & design
Population Density
Weather
Road & Safety Conditions
Maintenance
Number of Bikes/Demand
Station Location - Visibility

Key Considerations
Bike Share locations
Costs involved
Map of proposed stations
Financial costs

Exponential Smoothing
EOQ for spare-parts
purchase

A green initiative by Siddarth Kannan
Questions
Assumption :
80 Bicycles
spread over 1
9
Stations
across Busch and Livingston

Each
bicycle
and
station costs
roughly
$1,300
and $35,000.

Start up and installation costs
are roughly
$200/bike and $7500/station
and
yearly maintenance costs
amount to
$1,100 per station
.


`
Exponential smoothing for forecasting
demand

EOQ for spare-parts purchasing
Exponential smoothing is a quantitative forecasting method, mostly used for time series forecasting.
Used for forecasting number of bikes to be used by students
where,
Use EOQ for inventory control of spare parts
where,
Revenue Model
User fee
Membership fee
Usage fee
Sponsorship
Title Sponsors
Station Sponsor
Non-profit Sponsors
Q = Optimal Order Quantity
K = Setup Cost is $200
D = 16 Bikes (20%)
h = Ic = 15% * $1300
Substituting estimated values for our program, we got :

EOQ= 5.7289 ~ 6
Therefore, initial costs would be:
$1,300 * 80 + $35,000 * 19 + $200 * 80 +
$7500 * 19 =
$927,500

And yearly maintenance costs:
$1,100 * 19 =
$20,900

Therefore, the
estimated costs
in the first
year are
$948,400
and almost
$21,000
every year thereafter.
Calculations
Full transcript