Common use of Inventory Report Clause in Contracts

Inventory Report. An Inventory Report provides information concerning consignment stock levels and stock movements. Supplier requires this information in order to plan resupply. With an Inventory Report, Vitesco Technologies informs Supplier about the quantity withdrawn from consignment stock and from which the invoicing process is started (Self-Billing). The current Vitesco Technologies company standard format for Inventory Report is based on EDIFACT INVRPT 97A and EDIFACT INVRPT 99B. The inventory report includes a unique consumption reference number for each single withdrawal out of consignment. This unique consumption reference number also includes information on consignment stock levels, good receipt and any good issue. If Supplier agrees and if its IT-System can process this information, Vitesco Technologies can also include in separate Inventory Report messages concerning stock levels of free, and quality blocked levels of consignment stock and Vitesco Technologies stocks.