Which are the three most critical controls in procurement process to ensure Value for Money?

Thanks for invitation. Three most effective control points are 

• Detailed specification to serve the purpose and  qty required
• Transparency through effective competitions to have the best available rates
• Delivery time as requested by users

Cost , Quality, OTD ( On Time Delivery_

Actually, there are about 8 factors not only 3 however we can Chose Cost, Quality & Delivery

1. list of invitees + criteria for inviting (who do we invite and why, who gets omitted and why)

2. specification (what do we want)

3. technical criteria for selection (which offer is deemed technically compliant / viable and why; which offer makes it above the threshhold and why; which offers will get turned down and based on what)

QCD (quality,cost, delivery time) are the three critical controls in procurement