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Reactive Maintenance
Repairs or maintenance
to broken-down equipment only when
necessary to avoid disrupting production.
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Real Property
1. Land and its permanently affixed buildings or
structures.
2. Any property that is not personal property.
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Reasonable Cost
A cost that by its nature or
amount does not exceed what would normally
be incurred by an ordinarily prudent person in
the conduct of competitive business. Often
used in the context of “fair and reasonable”
cost/price.
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Rebate
A sum of money returned by the supplier
to the buyer in consideration of the purchase
of an agreed-upon amount, quantity, or value
of goods and services, generally within a
limited time period.
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Rebilling
In freight handling, the act of issuing a
new waybill at a junction point to which
shipment has been billed by a connecting line.
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Receipt
Written acknowledgement that one party
has obtained money or something of value
from another party without affirmative
obligation upon either party.
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Receiving
The function of accepting raw
materials and other goods that are brought to
an entity.
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Receiving Inspection
Comparing materials and
services received to written specifications.
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Receiving Report
A document used in the
receiving and inspection process that
identifies the item, quantity, and date of
delivery. It may also note any discrepancies or
problems.
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Reciprocal Preference
When the policy or
procedures of one jurisdiction favor its own
suppliers in procurement selections; in turn,
other jurisdictions may apply like measures
against the suppliers from the first
jurisdiction.
