Reverse Auction, Request for Quote (RFQ), Reverse Logistics, Receiving Dock

 

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Detailed terminology list , in pdf form, will soon be available

 
 

Rack
A storage device for handling material in pallets. A rack usually provides storage for pallets arranged in vertical sections with one or more pallets to a tier. Some racks accommodate more than one-pallet-deep storage. Some racks are static, meaning that the rack contents remain in a fixed position until physically moved. Some racks are designed with a sloped shelf to allow products to “flow” down as product in the front is removed. Replenishment of product on a flow rack may be from the rear, or the front in a “push back” manner.

Radio Frequency (RF or RFID)
A form of wireless communications that lets users relay information via electromagnetic energy waves from a terminal to a base station, which is linked in turn to a host computer. The terminals can be place at a fixed station, mounted on a forklift truck, or carried in the worker's hand. The base station contains a transmitter and receiver for communication with the terminals. RF systems use either narrow-band or spread-spectrum transmissions. Narrow-band data transmissions move along a single limited radio frequency, while spread-spectrum transmissions move across several different frequencies. When combined with a bar-code system for identifying inventory items, a radio-frequency system can relay data instantly, thus updating inventory records in so-called "real time."

Random Location Storage
A storage technique in which parts are placed in any space that is empty when they arrive at the storeroom. Although this random method requires the use of a locator file to identify part locations, it often requires less storage space than a fixed-location storage method. Also see: Fixed-Location Storage

Rate Based Scheduling
A method for scheduling and producing based on a periodic rate, e.g., daily, weekly, or monthly. This method has traditionally been applied to high-volume and process industries. The concept has recently been applied within job shops using cellular layouts and mixed-model level schedules where the production rate is matched to the selling rate

Receiving
The function encompassing the physical receipt of material, the inspection of the incoming shipment for conformance with the purchase order (quantity and damage), the identification and delivery to destination, and the preparation of receiving reports.

Receiving Dock
Distribution center location where the actual physical receipt of the purchased material from the carrier occurs.

Re-consignment
A carrier service that permits changing the destination and/or consignee after the shipment has reached its originally billed destination and paying the through rate from origin to final destination.

Reorder point
A predetermined inventory level that triggers the need to place an order. This minimum level provides inventory to meet anticipated demand during the time it takes to receive the order.

Request for Quote (RFQ)
A document used to solicit vendor responses when a product

 
 

has been selected and price quotations are needed from several vendors.

Reverse Auction
A type of auction where suppliers bid to sell products to a buyer (e.g. retailer). As bidding continues, the prices decline (opposite of a regular auction, where buyers are bidding to buy products).

Reverse Logistics
A specialized segment of logistics focusing on the movement and management of products and resources after the sale and after delivery to the customer. Includes product returns for repair and/or credit.

 

 

 

 
 

 

Get terms alphabetically:  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   

 
 
 

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