Learn about actual and potential costs
How much should I pay for Barrels & Drums?
What is the average price of Barrels & Drums?
This procurement report includes pricing information to help you purchase Barrels & Drums. 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 Barrels & Drums 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 Barrels & Drums 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 Barrels & Drums?
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 Barrels & Drums with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
There an estimated 850 suppliers in the barrels and drums market in 2021. The level of market share concentration is considered moderate because the top four companies account for about 40.0% of total market revenue. A key factor contributing to moderate market share concentration is US manufacturers merging to benefit... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
How long have you been in the barrel and drum market?
How do your products differ from your competitors'?
What industry do you most commonly supply your products to?
How do you stay competitive in the market?
Who are your biggest competitors and what sets you apart from them? What are you doing differently from them amid the coronavirus pandemic?
How does your customer service differ from competitors'?
Do you offer routine deliveries?
What different barrels and drums do you offer (e.g. volume capacity, material, type)?
Do you have clients in my industry or clients that have the same intended use of the barrels and drums?
Can you recommend a material that is the best fit for my intended use?
What volume of barrels and drums do you readily have available?
What related products do you offer?
What size and type of buyer does your company typically supply barrels and drums to?
How experienced is your company with supplying the type and specifications of barrels and drums I require?
Do you have experience with large orders?
Do you offer volume discounts or bundled discounts?
Do you have multiple locations? Have these locations been affected by the pandemic? If so, how?
Shipping & Distribution
Do you have multiple distribution centers?
Where do you have distribution centers located? Are they in areas heavily affected by the pandemic?
What is the average shipping time and cost? Has this increased or decreased since the pandemic?
What is the most cost-effective shipping method?
Do you ship anywhere in the country? Has this change due to coronavirus-related restrictions imposed by governments worldwide?
Have you had issues in the past year regarding late shipments?
Supply Chain Risk
How have your production costs changed during the past three years? Have they changed significantly due to sudden shifts in demand as a result of the pandemic?
How do input price fluctuations affect your clients?
What do you do to offset increases in production costs?
Do you have contracts with multiple raw materials suppliers or manufacturers? How have they been faring financially during the coronavirus pandemic?
What are the criteria for picking the manufacturers or suppliers you partner with?
Vendor Financial Risk
Has your company ever been at risk of bankruptcy?
How much of your revenue comes from your five largest customers? If you lost a big customer, what impact would that have on your profitability?
Have you had to increase your marketing expenditures to ward off the increasing competition? What has that done to your profitability?
How does your company stay profitable during economic downturns? What is your company doing to mitigate the financial loss stemming from the pandemic?
How have rising or falling input costs affected your profitability?
How are your other divisions or ventures performing? What impact does their performance have on this division?
“Sending out RFPs used to be a nightmare”
Let’s chat about how procurement market intelligence can reduce
the time you spend issuing RFPs.
Key elements for every RFP
What should my RFP include?
Buyers should specify their budget for each individual barrel and drum as well as a total budget including costs for labor, maintenance and any additional parts.
Buyers should break down their total budget based on per hour service rates.
Buyers should include a general payment schedule.
For help creating a budget, buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report.
Buyers should select a vendor that is able to supply barrels and drums that meet the buyer's quality and budgetary requirements.
Buyers should select a vendor with a track record of reliability as shown in previous client references.
Buyers should select a vendor that is financially stable enough to remain operational throughout the duration of the contract.
Buyers should create selection criteria weighing key pricing and quality factors. For more information, buyers can reference the Buying-Decision Scorecard section of this report.
Buyers should provide bidders with the project timeline and include all relevant dates.
Buyers should note all relevant dates in the RFP process and when final bid awards will be announced.
Buyers should look to schedule periodic maintenance of barrels and drums on behalf of the vendor in order to maximize the life of their investment.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk is moderate in the barrel and drum market. Though supply chain risk is unlikely to affect the supply of the main components and raw materials necessary for barrel and drum production, it may impact the prices buyers ultimately pay. Of the second-tier suppliers, gasoline and petroleum wholesalers... Subscribe to learn more.