Supply Chain Glossary – R Letter

Description

• Risk Management: Risk management involves identifying, assessing, and mitigating potential risks that could impact operations or supply chains.
• Reorder Point (ROP): ROP is the inventory level at which a new order should be placed to replenish stock before it runs out.
• Root Cause Analysis (RCA): RCA investigates the underlying causes of problems or defects to prevent their recurrence.
• Resource Allocation: Resource allocation allocates personnel, equipment, and funds to projects and tasks based on priority.
• Reverse Logistics: Reverse logistics manages the return, recycling, or disposal of products and materials after they’ve been used or returned.
• Raw Material Inventory: Raw material inventory consists of materials used in manufacturing before they undergo production processes.
• Robotic Process Automation (RPA): RPA uses software robots to automate repetitive tasks, reducing manual effort and errors.
• Replenishment Lead Time: Replenishment lead time is the time it takes to receive ordered goods from a supplier.
• Radio-Frequency Identification (RFID): RFID uses wireless technology to track and manage inventory and assets.
• Resource Management: Resource management optimizes the allocation and utilization of people, materials, and equipment.
• Regression Analysis: Regression analysis assesses the relationship between variables to make predictions and decisions.
• Resource Planning: Resource planning coordinates the allocation of resources to meet production and project requirements.
• Receiving Dock: A receiving dock is an area in a facility where goods are received and inspected before storage.
• Risk Assessment: Risk assessment evaluates potential threats and vulnerabilities to business operations and supply chains.
• Rate of Return (RoR): RoR measures the profitability of investments or projects based on the percentage return.
• Reconfigurable Manufacturing System (RMS): RMS allows production equipment and processes to be easily adapted to changing needs.
• Routing Optimization: Routing optimization finds the most efficient paths and sequences for product delivery or production processes.
• Remote Monitoring: Remote monitoring uses sensors and technology to observe and control equipment and processes from a distance.
• Resource Constraints: Resource constraints occur when there are limitations in available resources to meet demand.
• Regulatory Compliance: Regulatory compliance ensures that operations and products adhere to legal and industry regulations.
• Return on Assets (ROA): ROA calculates a company’s efficiency in using its assets to generate profit.
• Resource Utilization: Resource utilization measures how efficiently resources are employed in production or projects.
• Recycling Program: A recycling program promotes the collection and recycling of materials to reduce waste and environmental impact.
• Quality and Reliability Engineering (QRE): QRE focuses on improving product quality and reliability through engineering practices.
• Resource Allocation Model: A resource allocation model guides the allocation of resources based on predefined criteria and priorities.
• Routing Algorithm: A routing algorithm determines the optimal path or route for products through the supply chain.
• Real-Time Inventory Tracking: Real-time inventory tracking continuously updates inventory data, providing accurate stock levels.
• Risk Mitigation: Risk mitigation strategies aim to reduce or eliminate potential risks in operations and supply chains.
• Raw Material Sourcing: Raw material sourcing identifies and selects suppliers for obtaining required materials.
• Resource Optimization Software: Resource optimization software helps companies allocate and manage resources effectively.