Other forms: reallocated; reallocating; reallocates
To distribute something again is to reallocate. If one kindergarten classroom has too many crayons and another kindergarten class doesn't have enough, the school may want to reallocate the art supplies.
If some resource needs to be handed out again in a different way, you'll have to reallocate it. Noticing that some of your party guests have two goody bags but several didn't even get one will inspire you to reallocate the party favors in a more fair way. Governments often find themselves in the position of having to reallocate money, resources, or services.