Under FiFo, the oldest costs will be the first costs of consumables to be removed from the balance sheet.
By first consuming the oldest spare, Naftomar significantly reduces the risk of inventory obsolescence.
Most impressive are the high levels of company buy-in to produce such precision.
About the Task Assistant Inventory Management
The Task Assistant facilitates FiFo uniquely and at every step of the way.
TA Inventory Management Applications produce FiFo as part of normal PMS use which significantly reduces workload on-board and ashore.
Consumption and Deliveries are properly reported as a by-product of fluid and flexible workflows offered by Task Assistant Workbench Facilities.
Inventory reporting therefore comes automatically without extra effort.