reallocation vs parceling

reallocation and parceling both are nouns.

Word	Noun	Adjective	Verb	Adverb
reallocation	Yes	No	No	No
parceling	Yes	No	No	No

As nouns, parceling is a hypernym of reallocation; that is, parceling is a word with a broader meaning than reallocation:

reallocation: a new apportionment (especially a new apportionment of congressional seats in the United States on the basis of census results)
parceling: the act of distributing by allotting or apportioning; distribution according to a plan

Other hypernyms of reallocation include allocation, allotment, apportioning, apportionment, assignation, parcelling.

reallocation (noun)	parceling (noun)
a new apportionment (especially a new apportionment of congressional seats in the United States on the basis of census results)	the act of distributing by allotting or apportioning; distribution according to a plan
a share that has been allocated again