The 5 R’s or “rights” in procurement are:
Right Quantity: Makes sure the correct quantity of goods or services is procured.
Right Quality: Procuring goods or services that meet the required quality standards.
Right Time: Secures the timely delivery of goods or completion of services per the agreed-upon schedule.
Right Place. Delivering goods or services to the correct location or point of use.
Right Price. Getting goods at a fair price that aligns with the organization’s budget.