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ERP Glossary

Glossary

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R

Rapid Application Development

Is a software development methodology that uses minimal planning in favor of rapid prototyping. The “planning” of software developed using RAD is interleaved with writing the software itself. The lack of extensive pre-planning generally allows software to be written much faster, and makes it easier to change requirements.

Receiving

A function that involves checking of the quality, quantity, and condition of the incoming goods followed by their proper storage.

References

References or recommendations; are verifiable sources that can justify the suitability of your product or service independently. The references can be a written letter, but are often just a contact telephone number. The source of the reference must be well known to the applicant and able to vouch for your abilities/capabilities.

Reorder point

The reorder point (“ROP”) is the set level of inventory when an order should be made with suppliers to bring the inventory up.

Requirement

A statement about what the proposed system will do that all stakeholders agree must be made true in order for the customer’s problem to be adequately solved.

Requirements analysis

Also called requirements engineering, is the process of determining user expectations for a new or modified product. These features, called requirements, must be quantifiable, relevant and detailed. In software engineering, such requirements are often called functional specifications.

Requisition

A request for something, especially a formal written request on a pre-printed form.

Revision control

Also known as version control or source control (and an aspect of software configuration management or SCM), is the management of changes to documents, programs, and other information stored as computer files.

RFP – (request for proposal)

A standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services.issued at an early stage in a procurement process, where an invitation is presented for suppliers, often through a bidding process, to submit a proposal on a specific commodity or service. The RFP process brings structure to the procurement decision and is meant to allow the risks and benefits to be identified clearly upfront.

RFQ (Request for quote)

A standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services.

RMA (Return Merchandise Authorization)

A transaction whereby the recipient of a product arranges to return goods to the supplier to have the product repaired or replaced or in order to receive a refund or credit for another product from the same retailer or corporation within the product’s warranty period.

Routing

A list of the operations to be performed during the course of manufacturing an item in the sequence in which they will be performed.

Rules based Configuration

Streamlines processes from quoting to delivery for engineer-to-order (ETO), make-to-order (MTO), assemble-to-order (ATO), and configure-to-order (CTO) manufacturing companies. The solution features a powerful rule- and constraint-based guidance engine and point-and-click usability so customers can quickly and easily create more accurate pricing, product configuration, specifications, bill-of-materials and process routings.