Proodle Hospitality Service Solutions Store Keeper Interview Questions and Answers

FIFO stands for First In, First Out.

• FIFO is a method of inventory management where the first items purchased or produced are the first to be used or sold.

• It ensures that older stock is used first before newer stock.

• Example: In a FIFO system, if you buy 10 units of a product on Monday and 20 units on Tuesday, the 10 units from Monday will be used/sold first.

Materials can be shorted by conducting regular inventory checks, implementing strict issue procedures, and using a first in, first out (FIFO) system.

• Conduct regular inventory checks to identify any discrepancies or shortages

• Implement strict issue procedures to ensure materials are only issued when necessary

• Use a first in, first out (FIFO) system to ensure older materials are used before newer ones

• Maintain accurate reco...read more