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Refused Shipment
1. A delivery of freight or goods and materials
that the consignee refuses to accept.
2. Any delivery from a carrier that is not
accepted.
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Regulation
A statement by a governmental body
to implement, interpret, or prescribe law or
policy, or to describe organization, procedure,
or practice, often promulgated in accordance
with an administrative procedures act.
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Regulatory Body
An independent organization,
usually established by government, that
regulates the activities of companies or
entities in an industry.
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Reinsurance
A contract in which an insurance
company agrees to indemnify another
insurance company in whole or in part against
risks the first company has assumed.
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Rejection
Refusal of a delivered supply or
service that does not meet contract
specifications or requirements.
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Relationships (between Buyer and Seller)
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Relative Price
A component of benchmarking,
whereby the price of a good or service is
compared to another price (i.e., a ratio of the
two prices).
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Remanufactured Product
A product that has
been stripped and replaced with worn parts to
meet the specifications of the original
product.
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Remedial Training
A technique used to improve
or upgrade an individual’s knowledge and
skills when job performance is not meeting
predetermined expectations.
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Remedy
The means by which a contractual right
or obligation is enforced or the violation of
such a right is prevented, reduced, or
compensated.
