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Procurement Market Intelligence Report

Locks & Security Hardware in Canada
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Locks & Security Hardware in Canada?

What is the average price of Locks & Security Hardware in Canada?

This procurement report includes pricing information to help you purchase Locks & Security Hardware in Canada. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Locks & Security Hardware in Canada been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Locks & Security Hardware in Canada yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Locks & Security Hardware in Canada?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Locks & Security Hardware in Canada with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Evaluate major factors to mitigate risk

How risky is the Locks & Security Hardware supply chain in Canada?

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HIGH

MEDIUM

LOW

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Supplier Experience

  • What support do you receive from industry trade groups, such as the Canadian Hardware & Housewares Manufacturers Association (CHHMA)?
  • What industries do you most commonly serve?
  • What type of lock would you recommend based on my business' needs?
  • What type of experience do your employees have? Do they belong to groups such as the Association of Ontario Locksmiths (TAOL)? Have they taken courses at the Academy of Locksmithing?
  • What can I do to ensure the purchasing process moves quickly and efficiently?

Related Goods

  • If the locking system requires the end user to use a phone, how do you ensure the software or application is properly installed on the device?
  • Are your products compatible with the latest technology?
  • Are there any other incentives for me to use your preferred locksmith? What separates your locksmith from others?
  • What type of related goods do you recommend with the locks and security hardware I am purchasing?
  • Do you offer bundling discounts for purchasing related goods from you?

Location & Shipping

  • How do you determine your shipping costs?
  • If I am not in a region you typically serve, what difficulties do you expect to encounter when delivering my order?
  • Will all locks and security hardware ship together? If they do not, will you wait to start the job if not all products have arrived? How will this delay the lock installation?
  • What locks and security hardware are commonly out of stock or typcially take longer to deliver?

Sourcing across North America?

Combine Canada Spotlight Reports with our US Market Intelligence to bolster your North American strategy

Key elements for every RFP

What should my Locks & Security Hardware in Canada RFP include?

Project Budget

  • Buyers should outline their expected price, including a detailed breakdown of costs.
  • Buyers should indicate if their budget is for a one-time purchase or for recurring scheduled payments.
  • Buyers should indicate if their payment is for a specific product or for an extended scope of products.
  • Buyers can reference the Benchmark Price section of this report for other important pricing considerations.

Selection Criteria

  • Buyers should evaluate vendors on their ability to provide quality locks and security hardware that satisfy their needs.
  • Buyers should prioritize vendors that operate in their province or are located nearby.
  • Buyers should give preference to vendors that offer competitive prices and extensive warranties.

Project Schedule

  • Buyers should provide the due date for proposal submissions.
  • Buyers should indicate when proposal evaluations will be complete and specify when award information will be communicated.
  • Buyers should specify the date they expect the locks and security hardware to be installed and functional.