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.
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.
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.

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.

  • 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 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).

  • 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.

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

  • 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.

  • 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.

  • 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.

  • The Vendor Managed Inventory model is a special consignment model.


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.
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.
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.
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.

Related to Vendor Managed Inventory

  • Excluded Inventory shall have the meaning set forth in Section 2.1(c).

  • 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 of finished Compound or Product or works in progress or materials used in the manufacture of finished Product, whether held at a location or facility of Seller (or of any other Person on behalf of Seller, including in any of Seller’s warehouses, blenders, toll manufacturers, suppliers, distributors or consignees) or in transit to or from Seller (or any such other Person), including active pharmaceutical ingredient; provided that such Product is listed by Seller in Section 6.09 of the Seller Disclosure Schedule.

  • Qualified Inventory means the inventory of Borrower in which Standard Federal holds a perfected first security interest exclusive of any returned or damaged items and work-in-process.

  • Eligible Finished Goods Inventory means Eligible Inventory consisting of finished goods available for sale (as determined in a manner acceptable to the Administrative Agent in its Permitted Discretion and consistent with past practices).

  • 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

  • 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--

  • 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

  • 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 inventory of finished goods in the Borrower's possession (i) that is held for use or sale in the ordinary course of the Borrower's business, (ii) which is physically located in the continental United States on premises owned by the Borrower (or, if such premises are owned by a third Person, such Person has waived or subordinated any landlord's lien it may have in a form satisfactory to the Bank and its counsel), (iii) for which the Borrower has not received a prepayment, (iv) which has not been returned to the Borrower by any purchaser thereof, (v) which is of a kind normally and customarily sold by the Borrower and which is not, because of age, unmerchantability, obsolescence or any other condition or circumstance, materially impaired in condition, value, or marketability in the good faith opinion of the Borrower, (vi) which is not subject to any assignment, security interest, lien, claim, or encumbrance of any kind other than the lien and security interest of the Collateral Agent, (vii) which meets all standards imposed by any Governmental Authority having regulatory authority over such inventory, its use and/or sale, (viii) which has not been consigned to any Person, (ix) which does not bear, incorporate or is otherwise subject to any trademark, patent or copyright which is not owned by the Borrower, unless such trademark, patent or copyright is licensed to the Borrower on terms and conditions satisfactory to the Bank, (x) for which no warehouse receipt has been issued with respect thereto, and (xi) which is not otherwise unacceptable to the Bank, in its reasonable discretion. The value of the inventory will be valued at the lower of cost or market on a first-in, first-out basis as determined in accordance with GAAP applied on a consistent basis.

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

  • Wholesaler means a person that for a commission or with intent to make a profit or gain of

  • permitted client means any of the following:

  • 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.

  • Obsolete Inventory means items that have expired, are redundant or

  • Products and Services means the products and/or services to be sold by Vendor hereunder as identified and described on Attachment A hereto and incorporated herein, as may be updated from time to time by Vendor to reflect products and/or services offered by Vendor generally to its customers.