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In this video tutorial, the speaker discusses inventory management renewal strategies and the importance of using the right automation system. They highlight three different strategies - FIFO (first-in first-out), LIFO (last in first out), and FIFO (first expired first out). FIFO is recommended for companies with short demand cycles, while LIFO is suitable for products without a shelf life but may be banned in some countries. The speaker emphasizes the importance of choosing the right strategy based on the company's needs and regulations such as IFRS in the European Union.
