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Home > QFINANCE Dictionary > Definition of periodic inventory review system

Definition of

periodic inventory review system

Operations & Production

means of regularly re-ordering inventory a system for placing orders of varying sizes at regular intervals to replenish inventory up to a specified or target level. A periodic inventory review system sets a specific re-order period, but the re-order quantity can vary according to need. The quantity re-ordered is calculated by subtracting existing inventory and on-order inventory from the target level.

Related definitions of "periodic inventory review system"

periodic inventory review system - Related Articles
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Definitions of ’periodic inventory review system’ and meaning of ’periodic inventory review system’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’periodic inventory review system’ and other financial terms with our online QFINANCE Financial Dictionary.

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