What does fifo mean? View the definition of fifo and all related slang terms containing fifo below:
fifo :
first in, first out
Usage of FIFO
FIFO is an abbreviation that stands for "First In, First Out". It is a method of accounting or inventory management that refers to the way items are handled or processed. When items are processed under the FIFO method, the first items received are the first items to be sold or used, and the most recent items are held back until all previous items have been processed. This system ensures that older items are used or sold first, reducing the risk of spoilage or obsolescence.
Examples of FIFO used in texting:
1. Hey, I just heard that the new restaurant in town follows the FIFO method for their food inventory.
2. Can you please organize the pantry FIFO style? It will make it easier to find things.
3. Our teacher told us that we'll be following a FIFO queue in class today.
