Customer Managed Inventory Clause Samples

Customer Managed Inventory. Customer is responsible for keeping Consigned Inventory. Customer will issue a no-charge purchase order for the initial requested inventory. Should Customer subsequently require additional inventory, such additional inventory will be invoiced to Customer at the Customer’s contracted price at the time of shipment of the order. Customer is responsible for designating a storage location prior to sending ZEISS a purchase order. Customer is responsible for managing expiration dates for the Consigned Inventory and shall provide ZEISS with written notice of impending expiration at least six (6) months prior to date of expiration on any Consigned Inventory. Customer must (a) identify all Consigned Inventory as being the property of ZEISS, (b) separate Consigned Inventory from other property of Customer, and (c) maintain complete and accurate records concerning the Consigned Inventory.