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Supplier Managed Inventory Agreement

Supplier Managed Inventory Agreement Template for New Zealand

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Key Requirements PROMPT example:

Supplier Managed Inventory Agreement

"I need a Supplier Managed Inventory Agreement for my manufacturing company in New Zealand, with implementation starting March 2025, that includes integration with our SAP system and covers multiple warehouse locations across the North and South Islands."

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Document background
This Supplier Managed Inventory Agreement is designed for use in New Zealand business relationships where a supplier takes responsibility for managing inventory levels at a customer's location(s). The agreement is particularly relevant in situations requiring efficient supply chain management and reduced inventory carrying costs. It details the supplier's obligations for inventory monitoring, replenishment, and management, while addressing New Zealand-specific legal requirements and commercial practices. The document includes comprehensive provisions for technology integration, performance metrics, risk allocation, and operational procedures, making it suitable for both simple and complex VMI arrangements across various industries. It incorporates requirements under New Zealand law, including the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and Privacy Act 2020.
Suggested Sections

1. Parties: Identification of the supplier and customer, including full legal names and addresses

2. Background: Context of the agreement, existing relationship, and purpose of the VMI arrangement

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Term and Renewal: Duration of the agreement, commencement date, and renewal provisions

5. Supplier Obligations: Core responsibilities of the supplier in managing inventory, including monitoring, replenishment, and reporting

6. Customer Obligations: Customer's responsibilities including access, facilities, and information provision

7. Inventory Management: Specific processes for inventory monitoring, minimum/maximum levels, and ordering

8. Title and Risk: Transfer of ownership and risk in the goods, including storage risks

9. Pricing and Payment: Pricing structure, payment terms, and invoicing procedures

10. Performance Metrics: Key performance indicators and service levels for inventory management

11. Technology and Systems: Requirements for inventory management systems and technology integration

12. Confidentiality: Protection of confidential information and data security requirements

13. Liability and Insurance: Liability limitations, indemnities, and insurance requirements

14. Termination: Termination rights, process, and consequences

15. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution

Optional Sections

1. Transition Services: Used when implementation requires specific transition arrangements from existing inventory management

2. Continuous Improvement: Include when parties want to establish formal processes for ongoing service improvements

3. Disaster Recovery: Required for critical supply arrangements needing specific disaster recovery protocols

4. Environmental Compliance: Include when handling environmentally sensitive products or when required by industry

5. Data Protection: Required when handling personal data or when GDPR or similar regulations apply

6. Change Control: Include for complex implementations requiring formal change management processes

7. Sub-contractors: Include when supplier may need to use third-party service providers

8. Export Controls: Required when dealing with international supply chains or restricted goods

Suggested Schedules

1. Schedule 1 - Product List: Detailed list of products covered by the VMI arrangement

2. Schedule 2 - Pricing Schedule: Detailed pricing information, including any volume-based pricing

3. Schedule 3 - Service Levels: Detailed service level agreements and KPIs

4. Schedule 4 - Systems Specifications: Technical specifications for inventory management systems

5. Schedule 5 - Locations: List of customer locations covered by the agreement

6. Schedule 6 - Operating Procedures: Detailed procedures for inventory management and ordering

7. Schedule 7 - Reporting Requirements: Specifications for required reports and reporting frequencies

8. Schedule 8 - Contact Details: Key contacts and escalation procedures

9. Appendix A - Implementation Plan: Detailed plan for implementing the VMI system

10. Appendix B - Business Continuity Plan: Procedures for maintaining service during disruptions

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































Clauses







































Relevant Industries

Manufacturing

Retail

Healthcare and Pharmaceuticals

Automotive

Electronics

Fast-Moving Consumer Goods (FMCG)

Industrial Supplies

Chemical and Raw Materials

Food and Beverage

Construction Materials

Relevant Teams

Supply Chain

Procurement

Operations

Legal

Finance

Logistics

Warehouse Operations

Information Technology

Commercial

Risk Management

Vendor Management

Quality Assurance

Relevant Roles

Supply Chain Manager

Procurement Director

Inventory Manager

Operations Manager

Commercial Manager

Contract Manager

Logistics Manager

Warehouse Manager

Supply Planning Manager

Category Manager

Chief Operating Officer

Purchasing Manager

Materials Manager

Vendor Relations Manager

Supply Chain Analyst

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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