Radio Frequency Identification (RFID)
system with tags that communicate
identifying and other information via radio
waves to a nearby reader.
A technique that results in a
representative subset of a population
whereby each element has the same chance
of being selected as every other element in
that population (e.g., selecting items from an
inspection lot so each item in the lot has an
equal chance of being included in the
sample). Random sampling is a form of
quality assurance often used in modern
polling, market research, and manufacturing.
As applied to the transportation or
movement of goods and material, the cost of,
or charge, that applies to the service rendered
by a carrier.
Rate of Exchange
An unprocessed, basic material,
input, or resource used in the manufacture of
finished parts or products.
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.
A predetermined stock level such
that, if the net stock falls at or below that
level, action is taken to replenish the stock.