you have access to the red hat knowledge base with your paid license ( the required license)
login to the red hat web site with the credentials for the license and do a search for "local repo"
the full instructions are there
but there is no real need for that if you have the dvd
the redhat install media repo should be in the /etc/yum.repo.d/ folder, or on the dvd.
this one is for CentOS5 , the red hat one will look like this
# This repo is used to mount the default locations for a CDROM / DVD on
# CentOS-5. You can use this repo and yum to install items directly off the
# DVD ISO that we release.
# To use this repo, put in your DVD and use it with the other repos too:
# yum --enablerepo=c4-media [command]
# or for ONLY the media repo, do this:
# yum --disablerepo=\* --enablerepo=c4-media [command]
name=CentOS-$releasever - Media