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FIFO

First In, First Out

FIFO is a term describing the practice to process those goods first that were received first, for Generic Stock. FIFO is generally only relevant for Make-to-Stock processes. MTO and ETO processes pick based on the order reference of the inventory (Sales Order Stock).

Compare to: FEFO, LIFO.

Notes

In Accounting, FIFO describes the practice to value inventory based on the principle that inventory is consumed in sequence of acquisition or production.

Hierarchy

IDNameLevelx
RetailRetail1Retail
FIFOFirst In, First Out2FIFO

Process(es)

IDNameLevelx
S106Transfer3S106
M102Issue/Stage Materials3M102
M107Transfer3M107
D107Pick3D107

Term(s)

IDNameClearx
INVInventoryINV
MTSMake-to-StockMTS
First In, First Out Retail 2 2 {{{keywords}}} {{{description}}}