LIFO

A Production Control System in Perspective
The relationship among functions in the whole production control system

The relationship between the production control system and other divisions
Order Receipt/Shipping Control
Demand Forecast
Production Planning
Inventory Control
Material Planning
Engineering Data Control
Purchasing Planning and Acceptance/Acceptance Inspection Control
Manufacturing Planning and Process Control
Quality Control
Cost Control

Asprova MRP

Asprova MRP is calculated on the memory requirement, allocate lead time at a high speed. Can achieve material arrangement Just in Time, which is impossible in other MRP system.

Please click here for detail information

MRP glossary TOP > Inventory Control > LIFO

Last-in First-out

Last-in First-out stands for Last-in First-out, and is a method for inventory valuation, where a calculation is done based on the rule where the last-in item is to be first taken out of warehouse. For details, see "Last-in First-out".

Related term: Cost Approach

Reference：JIT Business Research Mr. Hirano Hiroyuki

Last-in First-out | Inventory Control | Lower of Cost or Market