What is ‘Continuous Review’ & ‘Periodic Review’ system.
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continuous review system. an arrangement whereby a specified quantity of materials is reordered at variable intervals. ... With such a continuous review system the stock position is monitored after every withdrawal and when the stock level drops to a predetermined reorder point a fixed quantity is ordered.
An advantage of the periodic review system is that inventory is counted only at specific time intervals. You do not need to monitor the inventory level between review periods. This system also makes sense when you order several different items from a supplier.
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