first in first out
The 'first in first out' principle is widely applied in inventory management, queue systems, and data structures to ensure that the oldest items are processed or sold first.
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Definition
C1Accounting
(technical)An inventory valuation method where items acquired first are sold or used first.
Example
- The company uses the first in first out method to manage its inventory costs.
B2Operations
(general)A policy where the first item to arrive is the first to be served.
Example
- The cafeteria follows a first in first out system to serve customers.
B2Computing
(technical)A queue data structure where the earliest added element is the first to be removed.
Example
- The print jobs are handled using a first in first out queue.
Similar
Terms that have similar or relatively close meanings to "first in first out":