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.
Sample 1Sample 2Sample 3
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.
Sample 1Sample 2
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.
Sample 1

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.

  • In addition, the E&I Consortium Contract offers the Colleges an opportunity to take advantage of Vendor Managed Inventory (VMI) services at no additional cost, which reduces overages and inefficiencies in stock room management.

  • The E&I Consortium Contract also offers the end users an opportunity to take advantage of Vendor Managed Inventory (VMI) Services, which will reduce overages and inefficiencies in stock room management.

  • ScenarioRecord Traceability DataBegins when: Manufacturer needs to create additional inventory, or Vendor Managed Inventory triggers inventory creation request.

  • 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.

  • 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.

  • According to the expression of these degrees of freedom, we distinguish two types of VMI: the Dispatch-VMI, only centered on the deliveries decision and the Integrated-VMI, integrating both production and deliveries decision.The Vendor Managed Inventory (VMI) belongs to these collaboration policies which are today currently implemented in the industry.

  • 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.


More Definitions of Vendor Managed Inventory

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.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1

Related to Vendor 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;

  • 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 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.

  • Qualified Inventory means all Raw Materials Inventory, Semi-Finished Goods and Scrap Inventory and Finished Goods Inventory held by a Credit Party in the normal course of business and owned solely by such Credit Party (per plant level records whereby manufactured items are valued at pre-determined costs and purchased items are valued at rolling average actual cost).

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

  • 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.

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

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

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

  • 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.

  • 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.

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

  • Eligible business means a business located within the counties of Cook, DuPage, Kane, Lake, McHenry or Will in the State of Illinois (the “Six County Region”), and as to which: (1) a majority of the business' fleet is located and used within the Six County Region; and (2) a majority of those vehicles located and used within the Six County Region are alternatively powered vehicles.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • 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.

  • 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.

  • 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.

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

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

  • Wholesaler means any person, other than a vintner, brewer or bottler of beer or wine, who shall sell, barter, exchange, offer for sale, have in possession with intent to sell, deal or traffic in alcoholic liquor, wine, or beer. A wholesaler shall not sell for consumption upon the premises.

  • permitted client means any of the following:

  • Bidder/Channel Partner means an eligible entity/firm submitting the Bid in response to this RFP.

  • 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.

  • Cannabis wholesaler means any licensed person or entity that purchases or otherwise obtains, stores, sells or otherwise transfers, and may transport, cannabis items for the purpose of resale or other transfer to either another cannabis wholesaler or to a cannabis retailer, but not to consumers.

  • Approved Contractor means an “Approved Contractor” specified in the Key Details.