FIFO IN KITCHEN
Refilled vegetable stock today.While placing new lot of capsicums in crisper, I noted a residual capsicum from old stock.I coloured its stem with marker so that it gets used at the earliest.
One such was inventory management.I vaguely remember terms like reorder level, EOQ amongst others which haunted me.
Example:FIFO (First In First Out), an inventory management method
Conclusion: Knowingly or unknowingly, we often follow FIFO method of inventory management in our daily lives, especially in kitchen :)