Used Pallet Racking: Benefits of LIFO Orientations vs. FIFO Orientations in Storage
If you’re shopping for used pallet racking for your facility, you may want to consider whether your needs are best suited by a last-in, first-out (LIFO) orientation or a first-in, first-out (FIFO) orientation. This may seem trivial at first, but without thinking these options through, you may end up picking an option that is inefficient for your inventory and accounting.
A FIFO orientation is essential for any inventory that may spoil or depreciate in value quickly. Also, FIFO can result in more accurate accounting figures in the event that the prices for your inventory changes steadily. On the other hand, LIFO allows for easier access to stock that will last for long periods of time, and can allow for more efficient accounting for your inventory, so long as the pricing on your stock remains stable so that your figures are still accurate.
To learn more about the various benefits of LIFO and FIFO storage orientations, contact Ace Industrial Supply today. We proudly supply companies across the United States with used pallet racking and other storage options, and can help you determine which orientation best suits your inventory’s needs.