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
 
Supply Planner
     
     Norfolk Area, VA  -  PERM  -  SCM Talent Group

Sr. Manager, Supply Chain Planning
     
     Atlanta Area, GA  -  PERM  -  SCM Talent Group

Cosmetics Demand Planner
     
     International  -  PERM  -  Michael Page

Supply Chain Manager (Manufacturing)
     
     Piscataway  -  PERM  -  Michael Page

Logistics Specialist
     
     Nashville, Tennessee  -  PERM  -  Philips

Procurement Specialist
     
     Lombard  -  PERM  -  Michael Page

Cosmetics Demand Planning Manager
     
     Santa Monica  -  PERM  -  Michael Page

Senior Supply Chain Manager - Personal Health (Lockbourne OH)
     
     Lockbourne, Ohio  -  PERM  -  Philips

Supply Chain Analyst
     
     Manhattan  -  PERM  -  Michael Page

Strategic Sourcing Manager - Electronics/ Electrical Components
     
     Vernon Hills  -  PERM  -  Michael Page

Field Quality Manager - Remote Opportunity
     
     Boca Raton  -  PERM  -  Michael Page

Import/Logistics Specialist
     
     Miami  -  PERM  -  Michael Page

Cosmetics Senior Supply Planning Manager
     
     International  -  PERM  -  Michael Page

Director of Global Procurement
     
     Eden Prairie, MN  -  PERM  -  SCM Talent Group

Procurement Specialist
     
     Lombard  -  PERM  -  Michael Page



 
           Circular Economy     Industry 4.0     Blockchain 

     Internet of Things     Omni Channel 


Join us on


News & Trends
 

Last update 8 Jan 2020
Manufacturing output continues to recover amid further new order growth
   Source: Markit US Manufacturing PMI   -  IHS Markit
United States 


Chemicals & Pharmaceuticals

Even industries driven by the strictest safety and environmental regulations are capable of reducing their costs. Our solutions improve each phase of the chemical logistics supply chain, to increase your supply chain performance, improve predictability and mitigate potential problems before they arise. B...


Five signs its time for supply chain transformation

In spring, the flowers bloom. In fall, the leaves change. Some transformations follow a convention, but in supply chain that’s rarely the case. How do you know when it’s time for a shift? This was the ques...


Education
 
 4 
Feb
2020
Supply Chain Project Management: Fundamentals
     Georgia Tech Savannah Campus
25
Feb
2020
Material Handling 101: Fundamentals, Analysis and Selection
     Georgia Tech Savannah Campus
24
Mar
2020
Engineering the Warehouse
     Georgia Tech Global Learning Center
14
Apr
2020
Supply Chain Project Management: Vendor Selection & Management
     Georgia Tech Savannah Campus
13
May
2020
Tactical Decision Making in Inventory and Supply Chain Management
     Georgia Tech Global Learning Center

Local & Regional Agenda
 


Resources
 
FLORIM CERAMICHE SPA: On the road to Industry 4.0: advanced planning & finite capacity scheduling

Florim Ceramiche SpA has been worldly recognised as a leader in ceramics industry for more than 50 years, thanks to its committment to research, innovation and social responsibility. Florim business style can be summa...

The New Language of Procurement

The language of procurement speaks to an agenda driven by delivering value. Leading procurement organizations are well-versed in areas that resonate with financial officers and the performance narrative. They lead with h...


International Agenda