/fɜrst ɪn fɜrst aʊt/ – Phrase
Definition: Nguyên tắc xử lý hàng đợi theo thứ tự đến trước, đi trước.
A more thorough explanation: 1. a method of stock control where the first goods bought or produced are the first ones used or sold
2. an accounting method based on the idea that first goods bought or produced are the first ones used or sold. The total value of all goods left at the end of the year is based on the most recent price.
3. an employment policy where the first people employed by an organization are the first to go if jobs are cut
Example: 1. The COMPANY shall deliver the PRODUCT to its customers on a first in, first out basis.
2. Value is determined at the lower of cost or market on a first in, first out basis.
3. We’ve adopted a first in, first pout redundancy policy to keep our workforce fresh.