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Procurement Market Intelligence Report

Casters & Cart Wheels
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Casters & Cart Wheels?

What is the average price of Casters & Cart Wheels?

This procurement report includes pricing information to help you purchase Casters & Cart Wheels. 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 Casters & Cart Wheels 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 Casters & Cart Wheels 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 Casters & Cart Wheels?

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 Casters & Cart Wheels 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 ?

Market share concentration among caster and cart wheel suppliers is low. According to ProcurementIQ estimates, there are 3,720 total vendors in the market. The top four vendors in the market are Genuine Parts Company, Menard, Grainger and Uline, which collectively make up less than 30.0% of total market revenue. The... 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?

Regulation

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?

Competition

How do you win and retain business?

How long have you provided casters to your longest tenured client?

What is your reputation like among competitors and customers?

What sets your casters apart from your competitors'?

Do you offer any value-added products or services that your competitors do not?

How do you stay competitive in the market?

Cost Control

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

How have fluctuations in input prices affected the prices of your product over the past three years?

How do you mitigate sudden price increases in raw materials?

How diversified is your supplier base for inputs? When input costs rise, are you able to source the product from a different supplier to get lower pricing?

Do you source from multiple suppliers or a single supplier? How does this affect costs?

Supply Chain Risk

How often do you evaluate your supply chain's prices to ensure they are still competitive?

Would the bankruptcy or revenue volatility of any of your key clients or suppliers adversely affect your operations?

Has your company ever been at risk of bankruptcy?

How does your company stay profitable during economic downturns?

What kind of agreements do you have with your suppliers that control input cost volatility?

Do you source materials with a high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Experience

How long have you been active in this field? How long have you served operators in my market?

What are some similar clients you have serviced, along with dates and service period?

Could you provide a list of client references, along with contact information?

Could you provide key personnel backgrounds and experience?

What industry do you most commonly supply this product for?

Will you help design and build customized products?

Quality Control

How often do you experience defects with your casters?

How many recalls have you had?

What types of technical issues have you experienced with this product?

What is the typical inspection process that your product undergoes?

How do you ensure your product's quality?

Customer Service

Do clients have a dedicated account manager or do they call a general support line?

How many clients does each account manager look after?

What systems and software do you use to manage accounts?

Do you offer 24/7 customer account or technical support?

How can customer service representatives be reached?

What is the typical response time for each of these methods?

What type of training do you offer to buyers?

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Key elements for every RFP

What should my RFP include?

Project Budget

Where appropriate, buyers should state the total maximum value or the price range of the contract.

Buyers should indicate what should be included in the proposal's pricing.

Buyers should indicate whether suppliers are able to submit requests to modify caster and cart wheel pricing throughout the length of the contract. If included, buyers should indicate the relevant timeframes and requirements for new pricing to be considered.

Selection Criteria

Buyers should ensure the buyer's proposal meets their specific needs.

Buyers should ensure the buyer demonstrates that their casters and cart wheels are in compliance with any local, state and federal requirements, regulations and legislation.

Buyers should consider the vendor's relevant experience and past performance, particularly with buyers and projects of a similar scope.

Buyers should consider the financial position of the vendor based on the provided financial statements of income and balance sheets.

Project Schedule

Buyers should outline the deadlines for questions and proposals.

Buyers should indicate the date the successful vendor will be notified.

Buyers should specify the date by which the casters and cart wheels will be delivered.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain risk for casters is high. Most of the risk in the market stems from upstream suppliers of steel and plastic, because they are key inputs. As global commodities traded in the world market, steel and plastic fluctuate in price in line with changing credit conditions and economic... Subscribe to learn more.

HIGH

MEDIUM

LOW