Learn about actual and potential costs
How much should I pay for Commodity Price Forecasting Services?
What is the average price of Commodity Price Forecasting Services?
This procurement report includes pricing information to help you purchase Commodity Price Forecasting Services. 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 Commodity Price Forecasting Services 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 Commodity Price Forecasting Services 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 Commodity Price Forecasting Services?
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 Commodity Price Forecasting Services 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 ?
The commodity price forecasting market has a low level of concentration, with the top four vendors accounting for less than 20.0% of the market. In total, about 400 vendors operate in the market, and market share concentration has remained stable during the past three years. However, occasional consolidation does occur,... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
From which organizations or publications do you source your data?
Which industry associations or operators do you talk to in order to research commodity markets?
Do you have information-sharing relationships with any other companies?
What information or data do you purchase?
Amidst widespread health concerns during the 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 do you evaluate customer satisfaction, and how frequently do you do so? Is this made available to clients?
If you encounter issues or your client is not satisfied, what steps do you take to address the issue?
Do you offer 24/7 customer account and technical support services?
Do you have online auto-renewals? Can I manage my account online?
Can I pause our subscription if my business is experiencing financial hardships during the pandemic? What other accommodations are you offering clients?
How do you ensure the accuracy of your forecasts?
How do your forecasts compare to actual price movements?
How often do you find errors after documents have been finalized?
Who normally identifies errors when they occur?
Are your forecasts already taking into account the economic impacts of COVID-19?
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Key elements for every RFP
What should my RFP include?
Buyers should request detailed cost breakdowns for each forecast.
Buyers should explain the schedule with which payments will be made.
Buyers can consult the Benchmark Price section of this report for assistance in benchmarking the desired budget.
Buyers should evaluate suppliers based on the vendor's forecast methodology, personnel qualifications and past work experience.
Buyers should evaluate suppliers based on cost.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should outline when proposals must be submitted and when bid awards will be posted.
Buyers should include any other relevant dates (e.g. presentations or final interviews) prior to the contract award.
Buyers should specify when they wish to begin receiving forecasts and how often.
Buyers should outline the length of the contract.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk in the commodity price forecasting services market is low to moderate. The production of commodity price forecast reports is a labor-intensive process, so providers spend a large portion of revenue on wages. Wage trends have historically been stable and are not at risk of significant spikes. There... Subscribe to learn more.