R Terms in the Supply Chain Glossary

A technology using electronic tags to store item data, retrievable via radio frequencies without requiring direct visibility or proximity.

A scheduling approach that aligns production with demand rates (daily, weekly, or monthly).

A document soliciting vendor responses for solutions when functional needs are defined but no specific product is predetermined.

A document soliciting price quotes from vendors for a selected product or service.

A supply chain process dedicated to moving products and materials backward for returns, repairs, remanufacturing, or recycling.

The management of goods moving from the point of consumption back to origin for purposes like repair, recycling, or disposal.

The process of identifying, assessing, and addressing risks to minimize negative impacts and capitalize on opportunities.

Developing strategies to identify and mitigate potential risks in a project.

Creating a plan to avoid risks or reduce their impact when avoidance isn’t feasible.

The level of risk an organization or stakeholder is willing to accept to achieve its objectives.

The deployment of software robots to mimic human actions in executing predefined, repetitive business processes.

The use of machines or robots, operated manually or through automation, to perform tasks.