Vendor Managed Inventory definition

Vendor Managed Inventory means Inventory of a U.S. Borrower, a Canadian Loan Party, or an Eligible U.K. Loan Party located in the ordinary course of business of such Loan Party at a customer location that has been disclosed to the Administrative Agent in Schedule 3.24 to Amendment No. 2 or in a Borrowing Base Certificate or updates to the Perfection Certificate.
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Vendor Managed Inventory means Inventory of a Borrower that has been delivered by such Borrower to (and is located at) a facility owned, leased or managed by such Borrower’s customer for the purpose of sale and with respect to which a sale of such Inventory has not yet occurred.
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Vendor Managed Inventory or “Kan-ban” will be used interchangeably to represent the same process for terms of this Agreement including any written or verbal reference to this contract or program. The VMI or Kan-ban may also be referred to herein as “Program”. Supplier agrees to work with Customer pursuant to this Agreement to establish an inventory management program based on conditions agreed to by both Supplier and Customer.
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Examples of Vendor Managed Inventory in a sentence

  • The Gateway Solution, which requires communications software, internal IT support, an alignment of underlying processes and is for products which required Vendor Managed Inventory (VMI) with sophisticated transaction details.

  • The Seller shall install and use the GS1 Hong Kong’s (a new name of Hong Kong Article Numbering Association) Web-based EZ*TRADE or the Gateway Solution to receive the HA Purchase Orders, send Purchase Order Acknowledgements and other information on Vendor Managed Inventory (VMI) electronically with the Hospital Authority’s Enterprise Resources Planning System (ERPS).

  • When required by HA, the Seller is required to install and use the GS1 Hong Kong’s (a new name of Hong Kong Article Numbering Association) Web-based EZ*TRADE or the Gateway Solution to receive the Purchase Orders, send Purchase Order acknowledgements and other information on Vendor Managed Inventory (VMI) electronically with the Authority’s Enterprise Resources Planning System (ERPS) (the “EDI Requirements”) at its own cost.

  • The Suppliers, with exception of the e-VMI (= electronic Vendor Managed Inventory) Suppliers, have the obligation to acknowledge receipt of the Purchase Order within a period of 10 calendar days from the date of the receipt of the Purchase Order and they have to accept the Purchase Order by fax, e-mail or any other electronic communication tool.

  • Lastly, with the award of our Virginia Department of Transportation contract in 2002, the Supply Chain Management Division entered the fleet and facility parts Vendor Managed Inventory market segment which supports large vehicle and equipment fleet or facility maintenance operations with an on-site full turnkey inventory management and parts procurement solution.

  • Shipping and Storage Novavax assumes that it will maintain a Vendor Managed Inventory (VMI) system for a period of 12 months, with shipments to 10 geographic zones in the USA.

  • Our Virginia Beach, VA headquarters staff provides supporting functions for our service workforce such as monthly customer invoicing, vendor payment, human resource support, safety program management, Vendor Managed Inventory program oversight, performance measurement & reporting, Information Technology support, training, and technical assistance.

  • Nationally, there are only two companies that provide Vendor Managed Inventory services supporting fleet maintenance, MANCON and NAPA.

  • There is no specific license or certification required to perform Vendor Managed Inventory services.

  • SUPPLIER shall establish and properly manage a Vendor Managed Inventory (VMI) program whereby suppliers will deliver Components to a VMI location for SUPPLIER’s withdrawal as needed.


More Definitions of Vendor Managed Inventory

Vendor Managed Inventory or "VMI" means a program whereby the Parties agree that Supplier will stock and maintain certain Items at specified locations, with Supplier retaining title to, and risk of loss with respect to, the Items until such Items are procured by Applied or its designee in accordance with the terms and conditions of such program. In the event the Parties agree that certain Items will be included within the VMI program ("VMI Items"), Supplier agrees to manufacture and stock such VMI Items in accordance with any authorized inventory planning and collaboration tool provided to Supplier by Applied.
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Vendor Managed Inventory describes a system in which the Contractor monitors and maintains specified inventory levels for selected items at designated stocking points. VMI enables the Contractor to plan production and shipping more efficiently. Stocking points benefit from reduced inventory but steady stock levels.
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Vendor Managed Inventory means an inventory of materials and components that is managed and maintained by suppliers to Manufacturer at designated hub locations, at the expense of such suppliers, that are segregated by such suppliers for potential use and delivery to Manufacturer for use on an "as needed" basis in the manufacture of Products. [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
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Vendor Managed Inventory or "VMI" means a program whereby the Parties agree that Supplier, will stock and maintain certain mutually agreed upon Items at specified locations, with Supplier retaining title to, and risk of loss with respect to, the Items until such Items are procured by Applied or its designee in accordance with the terms and conditions of such program. In the event Applied designates certain Items to be included within the VMI program ("VMI Items") by providing Supplier with notice of such designation, Supplier agrees to manufacture and stock such VMI Items in accordance with: (i) any authorized inventory planning and collaboration tool provided to Supplier by Applied; and/or (ii) a separate VMI agreement between Applied and Supplier in form identical or substantially similar to Attachment 16 entitled "Supplier Hub Amendment to the GSA" located on Applied's Web Site.
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Related to Vendor Managed Inventory

  • Excluded Inventory has the meaning set forth in Section 2.2(b).

  • 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.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.