Your inventory is hit with unexpected demand changes. How do you choose between FIFO and LIFO methods?
When your inventory faces sudden demand shifts, deciding on an inventory management method is crucial. First In, First Out (FIFO) and Last In, First Out (LIFO) are two common strategies that can significantly impact your business's financial health and customer satisfaction. In the face of these challenges, understanding the nuances of each method becomes essential to navigate the turbulent waters of supply chain management.