廃品 is read as はいひん (haihin) and means waste.
はいひん
haihin
はいひんかいしゅうぎょう
waste management (garbage collection) industry
はいひんかいしゅう
collection of waste materials
はいひんかいしゅうぎょうしゃ
garbage man
はいし
abolition
はいぜつ
はいあん
rejected bill (project)
はいこう
closure of a mine
はいき
annulment
はいぎょう
discontinuation (of business)
はいざい
scrap wood
closing of a school
はいしゃ
deregistered vehicle