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Procurement Market Intelligence Report

Barrels & Drums Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

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 Barrels & Drums?

The barrel and drum market has a low level of market share concentration, which means the top four suppliers account for less than 30.0% of total market share. Market share concentration has increased from 2015 to 2018, however, and is forecast to continue doing so in the three years to... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Shipping & Distribution

Do you have multiple distribution centers?

Where do you have distribution centers located?

What is the average shipping time and cost?

What is the most cost-effective shipping method?

Do you ship anywhere in the country?

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?

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?

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 increasing competition? What has that done to your profitability?

How does your company stay profitable during economic downturns?

How have rising input costs affected your profitability?

How are your other divisions/ventures performing? What impact does their performance have on this division?

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Key elements for every RFP

What should my Barrels & Drums RFP include?

Project Budget

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.

Selection Criteria

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.

Project Schedule

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 Barrels & Drums 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.

HIGH

MEDIUM

LOW