In a periodic review model,inventory is checked and reordering is done only at specified points in time,such as on a weekly,biweekly,monthly,or some other periodic basis.
For the production lot size,Q,the average inventory is one-half the maximum inventory,or 1/2Q.
A)is held against uncertain usage so that a supply of items is available if needed.
B)constitutes a small part of the cost of doing business.
C)is not something that can be managed effectively.
D)All of these are correct.
Inventory models for which the rate of demand is constant or nearly constant are called