Tuesday, 10 February 2015

Stock keeping – FIFO & LIFO for thoughts

An accountant will be familiar with the terms used here. First In First Out : what we get in first we use first & Last In First Out : What comes in last gets used first. Contradictory approaches, but are used for accounting in any business that has stocks.

A kitchen has fresh & dry goods as well as tools. Could we possibly apply these concepts? Well for rice & dry goods a FIFO may make sense and for lettuce the LIFO approach will have best crunch. 

Ask any kitchen manager or store keeper and they will know how best to use all ingredients and minimise wastage's


 Now try applying this to our thoughts....does the thought to actions process follow FIFO or LIFO ? Hard to say. Also do all thoughts result in action? Well only what we dwell on and give importance to. If we applied FIFO , that is every though either actioned or dumped, we will have little or no back log.  Where as in LIFO , the earlier thoughts will be hanging out till we turn attention on them. 

Think about it.

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