What does "FIFO" mean in food storage and inventory?

The term "FIFO," which stands for "First In, First Out," is a fundamental principle in food storage and inventory management. This practice ensures that the oldest stock of food items is used or sold before newer stock. In food safety, this method is crucial because it helps to minimize the risk of food spoilage, reduces waste, and maintains the quality and safety of food products. By following the FIFO method, businesses can effectively manage their inventory, ensuring that products are utilized in a timely manner and are consumed while still fresh and safe to eat. This is particularly important in environments where perishable goods are involved, as it helps to adhere to regulatory standards and promotes best practices in food safety.