Glossary
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R
Radio Frequency Identification (RFID).
The attachment of transponders (which may be read only or read/write) to products, as an alternative to linear bar codes, to enable product identification some distance from the scanner or when out of line of sight.
Random Sample Cycle Counting.
A method in which the particular parts to be counted are selected from the population of part numbers in a manner that has no inherent bias. In this selection process, each part number has an equal chance of being selected.
Rapid Acquisition of Manufactured Parts (RAMP).
A make to order process to reduce the purchasing lead time for long lead time manufactured parts whereby Product Data is held in STEP (the international standard for exchange of manufacturing product data) by the customer and exchanged, in electronic format, when an order is placed.
Raw Material.
Stock or items purchased from suppliers, to be input to a production process, and which will subsequently modified or transformed into finished goods.
Redundant Stock.
Parts used in manufacture which have been removed from a bill of material by technical change or modification action. Redundant parts may also be obsolete if they are no longer used for any other application in the inventory concerned.
Regional Distribution Centre (RDC)
A warehouse operated by or on behalf of a retailer that serves a number of stores in a
specific area with a range of product types and temperature bands.
Repair Turn Round Time (RTRT).
See Turn Around Time
Repairable Period (RP).
The total out of service time, including transit time, from when a repairable component becomes unfit for use until the time it is returned to stock and is available for further use.
Repairable Item.
An inventory item that is not normally consumed in use but one which will be repaired and re-used as part of the normal stock policy for that item. Such items have a repair lead-time as well as a procurement lead-time.
Repair Turn Round Time (RTRT).
See Turn Around Time
Repair Period (RP).
The total out of service time, including transit time, from when a repairable component becomes unfit for use until the time it is returned to stock and is available for further use.
Re-Order Level (ROL) (or Re-Order Point - ROP).
The calculated level of stock within an inventory control system to which the quantity of a specific item is allowed to fall before replenishment order action is generated.
Re-Order Quantity, Replenishment Order Quantity.
The calculated order quantity necessary to replenish stocks at a given point in time. The method of calculation, and the timing of the order, will vary depending on the type of inventory control system in use. Quantity based systems are checked continually to determine if an order should be placed; time based systems only have a count of stock at predetermined intervals and orders placed as required; a distribution system plans orders to meet distribution needs; and production based systems only order stock to meet manufacturing requirements.
Reorder Costs.
The total cost of placing a repeat order for an item either externally on a supplier or for internal manufacture. The costs may include elements to cover: order preparation, administration, IT overheads, correspondence, telephone, transportation, goods inward processing, inspection and for manufacture, batch et up costs and other production overheads.
Replenish to Demand.
See Make to Order
Replenishment Lead-time.
See Total Lead-time
Retail Buying Alignment.
This is where the retail buying function is totally integrated to supply chain activity so that a buyer understands and makes decisions within the context of an optimised supply chain model.
Reverse Logistics.
The requirement to plan the flow of surplus or unwanted material or equipment back through the supply chain after meeting customer demand.
Review Interval.
The time between assessing order requirements in a fixed order interval system.
Rotable.
An repairable inventory item that can be repeatedly restored to a fully serviceable condition and re-used over the normal life cycle of the parent equipment to which it is related. Such items have a repair lead time as well as a procurement lead time and normally have a serial number that is retained throughout the rotable life regardless of the extent of replacement of its component parts.
Rounding Order Quantity.
That element of an order that has been added to the basic order quantity to meet a constraint imposed by the manufacturer or to optimise overall supply chain costs.
Acronyms | 1-10 | A | B | C | D | E | F | G | H | I | J
K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
