Supplier Managed Inventory definition

Supplier Managed Inventory or “SMI” means a service arrangement under which IQE maintains a specified target level of Wafer inventory on a consignment basis at specific locations in RFMD's designated facilities for easy and immediate access by RFMD, monitors Wafer inventory levels and consumption rates at RFMD's designated facilities and replenishes inventory to maintain target inventory levels; IQE continues to retain title to such consigned Wafer inventory until it is removed from such locations for use by RFMD.
Supplier Managed Inventory or “SMI” means a program or process for Supplier’s inventory to be stored at Hubs or within Supplier’s designated area within an HP Warehouse.
Supplier Managed Inventory means those Products, if any, for each Relevant Company that are specified as “Supplier Managed Inventory” in Schedule C, which Products are critical to that Relevant Company’s operations at its Site, are maintained on-site by Supplier at facilities designated by the Relevant Company, and are made available for the Relevant Company’s use at any time.

Examples of Supplier Managed Inventory in a sentence

  • Depending on the plant, Kanban or SMI (Supplier Managed Inventory) systems are activated.

  • Supplier shall not ship material that cannot meet this requirement without prior written approval from Thaler Machine Company LLC Buyer.For Supplier Managed Inventory contracts, the minimum remaining shelf life upon delivery will be set at 25%, in consideration of the Just-In-Time (JIT) delivery process.

  • SSI may adjust up or down the quantities of Products that it orders SANMINA-SCI to ship from either Supplier Managed Inventory ("SMI") (local SSI site) or SANMINA-SCI Kanban (stored at SANMINA-SCI inventory locations).

  • Part of the material purchase is handled by Supplier Managed Inventory (SMI)– Supplier Managed and Owned Inventory (SMOI) principles, explained in Appendix C, for which the procurement team is responsible for setting the lower and higher inventory bounds.

  • LOGISTICS (Element 2.0)‌ 2.1 Supplier Managed Inventory (SMI) Supplier Managed Inventory (SMI) is the ownership and management, by the supplier, of established inventory levels at a designated facility.

  • For the Engine Group, ERS invoices are based on the EDI 846 transmitted to the suppliers as Supplier Managed Inventory (SMI) material is transferred from the Logistics Provider to the using Plant.

  • CUSTOMER acknowledges that the concept of “purchase commitments to a Vendor” (as used in Section 4.2(a) and elsewhere in this Agreement) includes not only SANMINA-SCI purchase orders issued to Vendors, but also forecasts (which are based on CUSTOMER’s Forecasts) provided to Vendors in accordance with SANMINA-SCI’s Supplier Managed Inventory Program (“SMI Program”).

  • For Supplier Managed Inventory contracts, the minimum remaining shelf life upon delivery will be set at 25%, in consideration of the Just-In-Time (JIT) delivery process.

  • WGT agrees to comply with the Supplier obligations under the Supplier Managed Inventory Agreement attached hereto as Exhibit O.

  • Supplier Managed Inventory at SAP/SCM at mySAP Supply Chain Management – business map solution – Edition 2004.Source: http://www.sap.com/solutions/scm.

Related to Supplier Managed Inventory

  • Excluded Inventory means any of the following inventory of goods, merchandise, or other inventory of Seller located at the Leased Premises: (a) all items in the Fresh Departments;

  • Product Inventory means all inventory of the Product owned by Seller or its Affiliates as of the Closing, including raw materials, work-in-process, bulk form drug and finished Product.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Supplier Group means the Supplier, its Affiliated Companies, its subcontractors and its and their respective employees, officers, directors, representatives, agents and invitees.

  • Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

  • Approved Vendor means a person who has been approved for inclusion on an approved vendor list through the approved vendor list process.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Supplier Equipment means the Supplier's hardware, computer and telecoms devices, equipment, plant, materials and such other items supplied and used by the Supplier (but not hired, leased or loaned from the Customer) in the performance of its obligations under this Call Off Contract;

  • Finished Goods means units of a manufactured product awaiting sale.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Locally manufactured goods means goods whose value, either in whole or in part, is derived from growing, producing, processing, assembling, or manufacturing activities that occur within a city-based manufacturer's facility located within the city.

  • Medical equipment supplier means any person, as defined in § 1-230, engaged in the delivery to the ultimate consumer, pursuant to the lawful order of a practitioner, of hypodermic syringes and needles, medicinal oxygen, Schedule VI controlled devices, those Schedule VI controlled substances with no medicinal properties that are used for the operation and cleaning of medical equipment, solutions for peritoneal dialysis, and sterile water or saline for irrigation.

  • School equipment means a durable school-owned machine, equipment, or tool used by a student as part of an activity, course, or program in a secondary school and includes a saw or 3D printer. “School equipment” includes a saw or 3D printer.

  • Manufactured good means a good brought to the construction site for incorporation into the building or work that has been--

  • Weapons system supplier means any prime contractor or first tier subcontractor engaged in, or having a known prospective interest in the development, production or analysis of any of the weapon systems, as well as any major component or subassembly of such system.

  • Supplier Personnel means Supplier’s employees, consultants, agents, independent contractors and Subcontractors.

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

  • Approved Vendor List means a list of approved vendors established under Section 63G-6a-507.

  • Supplier Profit means, in relation to a period, the difference between the total Charges (in nominal cash flow terms but excluding any Deductions (as defined in Call Off Schedule 1 (Definitions)) and total Costs (in nominal cash flow terms) in respect of any Call Off Agreements for the relevant period;

  • Major medical equipment means medical equipment which is used for the provision of medical and other health services and which costs in excess of the capital expenditure minimum, except that such term does not include medical equipment acquired by or on behalf of a clinical laboratory to provide clinical laboratory services if the clinical laboratory is independent of a physician's office and a hospital and it has been determined under Title XVIII of the Social Security Act to meet the requirements of paragraphs (10) and (11) of Section 1861(s) of such Act. In determining whether medical equipment has a value in excess of the capital expenditure minimum, the value of studies, surveys, designs, plans, working drawings, specifications, and other activities essential to the acquisition of such equipment shall be included.

  • Medical equipment means equipment used in a patient care environment to support patient treatment and diagnosis.

  • Supplier means the successful bidder who is awarded the contract to maintain and administer the required and specified service(s) to the State.

  • Reseller is a category of CLECs who purchase the use of Finished Services for the purpose of reselling those Telecommunications Services to their End User Customers.

  • Customer Equipment means hardware, software, systems, cabling and facilities provided by you and used in conjunction with the Equipment that we supply to you in order to receive the Services;

  • Supplier/Contractor means the individual, firm or company with whom the contract has been concluded for supplying the Goods and Services under the Contract. The Supplier/Contractor shall be deemed to include its successors (approved by the purchaser), representatives, heirs, executors, administrators and permitted;