Serials subscription prices continue to escalate but university library budgets of those have not grown concurrently at the same rate. In fact, library budgets of serials subscription have decreased as a percentage of total library expenditure. Also titles with little or no use should be cancelled to make room for new serials that might be needed to reflect new research interests or changes in curriculum. This study includes overview of the serials cancellation and substitute solutions for subscriptions in university library. Taking into account costs and coverages, availability of cancelled serials through interlibrary loan is high in general. There is a potential for considerable savings by providing access to low-use titles, and that is a combination of commercial document delivery and pay per view based on e-business could be a viable alternative to subscription in many cases.