When I started in supply chain the most common comment was you can have two out of three when it came to quality, delivery and price.
I always insisted that it was possible to have all 3. It just takes a bit more work.
These are the 5 rights of procurement that we are dealing with now. My own goal is the right quality, service, delivery and price. If I don’t have the first 3 then it doesn’t matter what the price is.
It isn’t that price isn’t important. It just shouldn’t be the main decision factor. The price has to be reasonable or the whole equation won’t work.