First In, First Out (FIFO) is a warehouse management system in which the materials or products stored first are also removed first. This principle is used to keep stock levels fresh and avoid product obsolescence.
Stock management: Ensuring that older stock is consumed first.
Obsolescence prevention: Reduces the risk of obsolete or unusable products.
Inventory control: Facilitates inventory monitoring and management.
Benefits:
Quality assurance: Maintains freshness and quality of products.
Cost efficiency: Minimizes losses due to obsolete stock.
Transparency: Better traceability and control of stock levels.
FIFO is often used in the food industry, pharmaceuticals and other sectors where the expiration date of products is critical.
