Skin ADV

eng
About   |   Newsletter
Demand & Supply Chain Management Evolution


Supply Chain Glossary

Glossary  >  F  >  First In, First Out  


 

First In, First Out


Source: Procurement Glossary
Author: Paul Rogers
Institute: CIPS - UK

Courtesy of


 

In inventory control, first in, first out [FIFO] means that stock is issued and charged out on the basis of the age of the inventory; the oldest stock is issued first.  From an inventory control point of view this reduces the likelihood of stock write-offs, of obsolete or age-expired stock.  From a costing point of view it reflects the actual price paid for the inventory.  If stock is replenished at a different price, there is then a dilemma about pricing stock that has been bought at different prices.  See also Last in, First Out.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




Job Opportunities
 
Procurement - IT - Management - Automotive - Digital Systems
     
     Eindhoven  -  PERM  -  Michael Page

Sr. Buyer Technical Innovations - Leisure Artikelen - Technische innovatie projecten
     
     Etten-Leur  -  PERM  -  Michael Page

European Supply Chain Manager - Chemicals - S&OP
     
     Waalwijk  -  PERM  -  Michael Page

Planner - International retailer
     
     Noord-Holland  -  TEMP  -  Michael Page

Buyer Indirect
     
     Utrecht  -  PERM  -  Michael Page

Warehouse Manager / operations management - FMCG - Retail
     
     International  -  PERM  -  Michael Page

S&OP manager - European market leader
     
     Heerenveen  -  PERM  -  Michael Page

Supply Chain Consultant
     
     Utrecht  -  PERM  -  Michael Page

IT inkoper
     
     Utrecht  -  PERM  -  Michael Page

Process Improvement Manager
     
     Amsterdam  -  PERM  -  Michael Page

Senior Inkoper
     
     Amersfoort  -  PERM  -  Michael Page

Manager Voorraadbeheer - Technische groothandel
     
     Den Haag  -  PERM  -  Michael Page

Procurement Manager - Handelsorganisatie
     
     Hellevoetsluis  -  PERM  -  Michael Page

Hoofd Planning & Logistiek
     
     Rotterdam  -  PERM  -  Michael Page

Logistics Excellence Implementation Manager
     
     Netherlands  -  PERM  -  1st Executive



 
           Circular Economy     Industry 4.0     Blockchain 

     Internet of Things     Omni Channel 


Join us on


News & Trends
 

Last update 5 Oct 2020
Manufacturing conditions improve at quickest pace since February
   Source: NEVI Netherlands Manufacturing PMI ®  -  IHS Markit
Netherlands 


Chemicals & Pharmaceuticals

Maximum safety and reliability and reducing the costs for our customers at the same time: we are able to offer the chemical industry an extensive range of chemical logistics services that hardly any other logistics specialist can match. It is our goal to harmonise our services with your specifications in s...


Blue Yonder Research Reveals Dramatic Shift in Shoppers’ Behavior Since COVID-19

Research highlights how changing online and in-store shopping habits will shape retail supply chains in the future New research from Blue Yonder highlights how shopping behavior has changed globally since the COVID-19...


Education
 

Resources
 
Missed orders reduced by 30% at Dijkgraaf-Reinders

Based in Apeldoorn, The Netherlands, Dijkgraaf-Reinders supplies a complete range of food and non-food items to restaurants, cafes, schools and healthcare organisations. Through implementing Slim4, the catering dist...

The role of strategic purchasing and supply management in risk management

Value generators and value protectors. Procurement’s profile in organisations is on the increase. A wider spend remit is being influenced and internal barriers are being broken. Some of the most valuable assets the...