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WHICH ONE IS BEST STORAGE METHOD " LIFO OR " FIFO " IN CASE FRESH PRODUCT HAVING LESS EXPIRY ?

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تم إضافة السؤال من قبل ATIF BASHIR , Sales Manager , Emirates Hydroponic Farm for Vegetables
تاريخ النشر: 2013/12/23
Rehan Qureshi
من قبل Rehan Qureshi , Financial Consultant , Self Employeed

it must be FIFO which means first in first out.

Ahamed Shareef
من قبل Ahamed Shareef , Divisional Head - Quality Assurance , Apollo Tyres Ltd

It has to be LIFO in this case. However, lower shelf life products must be monitored separately than other product categories so that, it can be used before its shelf life gets over.....

Vladimir Velikov
من قبل Vladimir Velikov , Product & Pricing Manager Passenger Cars (holding 2 positions) , Bright Castle Motors Ltd.

"FIFO - first in, first out" of course. When we talk about short shelf life goods the ones that came first should be used first.

Syed Yasir Ali Siraj Ul Haq
من قبل Syed Yasir Ali Siraj Ul Haq , Senior General Accountant , Arakan General Trading Company LLC

In fresh product case like Milk, Vegetable etc all items which have short expiry period you will follow "FIFO"

Shamsi Khan
من قبل Shamsi Khan , General Manager Supply Chain, Procurement & Operations , Oyster Group (MBK & MFK)

For storage and issue of goods, FIFO is best in case of perishable goods besides it also simplifies the costing of sales.  

Mohammad Tohamy Hussein Hussein
من قبل Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

The method used in this case is to issue the items with the closer expiry dates first. Stock management systems can control that and assist store keeprs in implementing it effectively.

TAHIR SAJJAD
من قبل TAHIR SAJJAD , Chief Accountant , Yousef Fouad Zuhairy Group. (Deals in Automotive & Elevators Installation Business)

FIFO

ATIF BASHIR
من قبل ATIF BASHIR , Sales Manager , Emirates Hydroponic Farm for Vegetables

ITS DEFINATELY FIFO , BEACUSE FRESH PRODUCTS LIKE FOOD ITEMS HAVING ONLY FEW DAYS EXPIRY SO WO HAVE TO DEILEVER THE GOODS WHOSE COMES FIRST..............

 

AKHESH PINTO
من قبل AKHESH PINTO , OFFICE ADMINISTARTOR , ALPHA NINE MARINE SERVICES

It is "FIFO" method as there would not be older stock remaining.

Tariq Ali
من قبل Tariq Ali , Deputy Manager IT , Kohat Cement Company Limited

LIFO

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