Supply Chain Logistics Glossary
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NEW TECHOLOGIES
Set of technologies resulting from convergence between information systems, telecommunications and audiovisual for processing and/or exchanging information. Example: Electronic Forms Interchange (EFI) through the Internet.
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Source: www.logistics-mag.com
NEXT IN FIRST OUT (NIFO)
Accounting method of valuing stock issues that does not consider the real value of the purchases but rather the value of the next purchase. In an inflationary period, this method results in lower reported values and therefore faster alerts.
