Shorthand for reproduce. Typically, RTS games have a cap on how many units a player can have, and when the maxed out army begins to take casualties the player will have to replace them with new units.
Zerg player: they've melted my zerglings away?!
*notices 60 or so supplies have suddenly been freed*
*furious clicking on the Ultralisk button*
Zerg player: Eh, reprod.