K Patel Chemopharma Store Officer Interview Questions and Answers for Experienced

FIFO stands for First In First Out, a method of inventory management where the oldest stock is sold or used first.

• FIFO ensures that the oldest stock is used first, reducing the risk of expired or spoiled products.

• It is commonly used in industries such as food, pharmaceuticals, and chemicals.

• FIFO helps in maintaining accurate inventory records and prevents stock from being forgotten or lost.

• It is also known as the 'firs...read more