Used Lumber Rack Options: Deciding on LIFO vs. FIFO Orientations for Your Inventory
When looking into a new or used lumber rack to add to your facility, the last thing that may be on your mind is whether your storage is operated on a last-in, first-out (LIFO) basis or a first-in, first-out (FIFO) basis. However, this simple distinction can mean a huge difference for the efficiency and accuracy of your accounting.
Any lumber that you store that generally has very few, if any, changes in price is well-suited to a LIFO orientation. This setup not only allows easy and efficient access from a single position, it also allows for more efficient accounting, so long as the pricing is fairly consistent. However, if you’re storing wood that commonly has drastic price changes, a FIFO setup is important for ensuring accounting accuracy, especially if the pricing steadily increases.
If you’re interested in finding out more about LIFO and FIFO orientations for a used lumber rack to add to your facility, contact Ace Industrial Supply today. We are proud to sell a variety of different storage racks and shelves, and our team can help you decide the operation orientation that works best for you.