A theological model is proposed that incorporates the serrated flow nature of metallic glasses. It involves the process of the nucleation, propagation and the arrest of a shear bands in the samples subjected to compressive deformation at room temperature. Numerical resolution of the constitutive equations resulting from the model is compared with the stress-strain curve obtained from in-situ nano-compression test in SEM of Zr-based metallic glass. Parametric identification method was applied and enabled us to release the physical parameters of the model. The obtained results showed that the model is adequately valid to describe the experimental data and the almost adjustable model parameters are physically meaningful and comparable to literature.