What is fixed time period system?

Business & Management
#1

The second inventory policy is determined by a system called a fixed-time period system . This system checks inventory levels in fixed time intervals labeled as T. The result is that the quantity ordered varies based upon the inventory position when the system is checked. The system sets a target inventory level it wants to maintain, say R. Inventory is checked every T intervals, say every week or every two weeks, and an order is placed to restore the inventory level back to R