The  5R`s referred to as key objectives of material management are principles aimed at optimising the management of resources and materials within an organisation. These principles help ensure efficient utilisation of resources, minimise waste, and enhance overall productivity. The 5R`s typically include:

(i) Right Place: Storing materials in the appropriate location within the organisation's facilities to facilitate easy access, efficient handling, and optimal use of space. This involves organising warehouse layouts, implementing storage systems, and using technology for inventory tracking and management.

(ii) Right Cost: Decide whether your current supply chain is efficient or responsive. Your chain is efficient if you satisfy predictable demand efficiently at the lowest possible cost, turn over inventory frequently, and select sup- pliers based on cost and quality.

(iii) Right Time: Timely procurement and delivery of materials to support production schedules and minimise waiting times. This involves efficient logistics management, effective coordination with suppliers, and minimising lead times in the supply chain.

(iv) Right Quantity: Ensuring that the correct amount of materials is available at the right time to meet production demands without excess or shortage. This involves accurate demand forecasting, inventory management, and replenishment strategies to maintain optimal inventory levels.