What is the meaning of Runout?

Something that has been run out.

The method of getting out (dismissed from play) in which a batsman, in making a run, has not reached the popping crease when a fielder breaks his wicket with the ball.

A relatively flat portion at the end of a ski run to slow down, or to connect trails.

Slowing down at the end of a ski run, skiing on a runout.

The end portion of the groove of a phonographic record, after the recorded sound.

A supposed auction employing shill bidders in order to convince legitimate buyers to purchase worthless articles.

Deviation of the axis of rotation of a rotating object (especially a milling cutter or workpiece) relative to that object's centerline; the specific amount of deviation.

Source: wiktionary.org