Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: R

REORDER COST

The expense that is involved when an order is repeated. It may be an internal order for manufacturing or an external order for supplies.

REPOSITORY

An indefinite storage for items where the item is not likely to be taken from.

RESERVE

The amount of money that is kept aside by the insurer so all debts can be covered.

RESOURCE DRIVER

The measure of costing the quantity of a resource that will be used by a certain activity. Used to allocate costs that are appropriate to the activity.

RESTORATION

1. The return of equipment to operational state after repairs. 2. A firm returning to full scale operations after a disaster. 3. Re-establishment of flora and fauna to the ecosystem after a

RETOUCHING

The alteration of computer graphics, photograph or an art work to restore it to its original form or to enhance features or to remove blemishes or unwanted material.

REVALIDATION

An official confirmation or approval of a document such as a ticket after it has expired or changed.

REVERSE LOGISTICS

The returning of goods that are damaged or unsold back to gthe supplier or manufacturer.

RIGIDITY

The stiffness, relatively, of a materials resistance to stretching, bending or other form of deformation under load.

RISK COMMUNICATION

The effective communication between those who determine risks and those responsible for minimising and assessing the risks.

RISK MATRIX

A table used in analysising risks where the rows show risks and columns show probability of occurence.

RISK SELECTION

The class that a risk is determined to be in such as sub-standard, standard or preferred.

ROAD BLOCK

A method used in advertising where the same ad is broadcast at the same time on all available stations or channels.

ROLLING

A process in shaping metal ingots where it is passed between two rollers to get a set shape and thickness.

ROOT MEAN SQUARE (RMS)

A mathematical value calculated by taking the square root of the mean of square roots in a random set of varying quantities observed during a certain cycle. A cycle like an alternating

ROUTINE

1. Any activity performed at regular intervals.2. The repitition of a procedure that does not vary.

RUN RATE

The projected profit of a company is studied in order to make next years investment decisions.

REGRESSION TOWARDS THE MEAN

The statistical propensity of a data series to gravitate towards the center of a distribution, provided it starts on the either end of the distribution and is free to fluctuate.

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