LIFO (Last-In, First-Out) - Key Industry Terms

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LIFO (Last-In, First-Out)

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Published on

Jul 18, 2025

Warehousing

LIFO (Last-In, First-Out)

Newest inventory is picked or sold first.

LIFO assumes the newest items received are picked first. While rare in physical warehousing, it can be used in accounting or environments where the latest inventory is more relevant (e.g., tech components). For instance, a company selling graphics cards may choose to sell the newest batch first to align with the latest spec or price.

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Total time from order receipt to shipment.

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Dock-to-Stock Time

Time taken from receiving goods to ready-for-pick.

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Time taken from receiving goods to ready-for-pick.

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Time taken from receiving goods to ready-for-pick.

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Number of items or orders picked per hour.

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Pick Rate

Number of items or orders picked per hour.

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Pick Rate

Number of items or orders picked per hour.

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Pick Accuracy

Rate at which items are picked correctly.

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Rate at which items are picked correctly.

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Pick Accuracy

Rate at which items are picked correctly.

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Order Cycle Time

Total time from order receipt to shipment.

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Dock-to-Stock Time

Time taken from receiving goods to ready-for-pick.

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