Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1-10 of 99 results for “R”
  • R&D

  • Radio Frequency Identification (RFID)

    A wireless system with tags that communicate identifying and other information via radio waves to a nearby reader.
  • Random Sampling

    A technique that results in a representative subset of the population where each element has the same chance of being selected as every other element in the population; such as to select items from the inspection lot so each item in the lot has an equal chance of being included in the sample. A form of quality assurance often used in modern polling, market research, and manufacturing.
  • Rate

    As applied to the transportation or movement of goods and material, the cost of, or charge, that applies to the service rendered by the carrier.
  • Rate of Exchange

  • Raw Material

    An unprocessed, basic material, input, or resource used in the manufacture of finished parts or products.
  • RCA

  • Re-Order Cycle Quantity

    The quantity of goods required to sustain operations for a specified period of time, after which time, orders will be placed for more goods.
  • Re-Order Point

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




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