Dictionary of Procurement Terms

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Search Results: 11-20 of 122 results for “R”

  • Re-Order Level

    CANADIAN A pre-determined stock level such that, if the net stock falls to or below it, action is taken to replenish stock.

  • Re-Order Point

    A predetermined stock level such that, if the net stock falls to or below it, action is taken to replenish stock.

  • Re-Order Quantity

    CANADIAN The fixed quantity that should be ordered each time the available stock (on hand plus on order) falls below the re-order level.

  • REA


    See Also: Request for Equitable Adjustment (REA)

  • Reactive Maintenance

    Maintenance for equipment and facilities provided only in response to a breakdown, which results in a loss of production. It may create emergency requests to the purchasing organization. (Business, 2002)

  • Real Property

    1. Land and its permanently affixed buildings or structures. 2. Any property which is not personal property.

  • Reason for Call-Up

    CANADIAN A brief explanation of reasons for calling-up temporary help services.

  • Reasonable Cost

    A cost that by its nature or amount does not exceed what would normally be incurred by an ordinarily prudent person in the conduct of competitive business. Often used in the context of “fair and reasonable” cost/price.

  • Rebate

    A sum of money returned by the supplier to the buyer in consideration for the purchase of an agreed upon amount, quantity, or value of goods and services, generally within a limited period of time.

  • Rebilling

    In freight handling, issuing a new waybill at a junction point to which shipment has been billed by a connecting line.

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