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First In First Out | FIFO

First In First Out or FIFO is a management rule that involves taking the goods and raw materials in their order of arrival in stock.

 

This operation allows companies that use perishable materials (e.g. foodstuffs) to solve problems of spoilage or obsolescence over time. In addition, the FIFO method also promotes cost-reduction by optimizing storage space for goods.




Related definitions

Last In First Out | LIFO