Inventory by Product Sample Clauses
The 'Inventory by Product' clause defines how inventory levels are tracked and reported for each individual product covered by the agreement. Typically, this clause requires the parties to maintain detailed records of stock quantities for each product, often specifying the frequency and format of inventory reports. By establishing clear procedures for monitoring inventory on a per-product basis, the clause helps prevent disputes over stock levels and ensures transparency in supply chain management.
Inventory by Product. For each Product type, the Net Standard Inventory for each Tank which contains Product of that type, to include tank heels, will be summed to form the Hydrocarbon Inventory quantity for the particular Product being inventoried.