Definition of principal of purchasing

The principals of purchasing are the guidelines for the buyer to know the optimal things to consider when buying.

Explanation:

There are five accepted principals of purchasing and they are defined here as such:

The Right Quality: The person must know the difference between bad quality and good quality of product they are buying.

The Right Quantity,: What is the optimal amount of product that is needed?

The Right Price: They must know if the price they are buying it for is good.

The Right Place: Is there a better place to buy the same product from that can be more trustworthy.

At the Right Time: The right time to buy products whose quality can fluctuate.

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