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Procurement Market Intelligence Report

Dredging Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Dredging Services?

What is the average price of Dredging Services?

This procurement report includes pricing information to help you purchase Dredging 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 Dredging 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 Dredging 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 Dredging 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 Dredging 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 ?

In 2020, an estimated 360 firms provide dredging services in the United States. Overall, concentration is high, with the top four companies accounting for about 70.0% of the market. As such, these top competitors have considerable brand recognition and some control over market prices. However, the primary buyer of dredging... 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?

Fulfillment Timeliness

What guarantees do you provide for meeting agreed-upon deadlines?

Have you experienced any issues in the past that have made you unable to fulfill project deadlines or have caused you to breach a contract?

What precautionary measures do you take in cases when you foresee meeting a deadline might be problematic?

What additional resources are you able to allocate to the project if it begins to fall behind?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?

Service Quality

What safeguards have you established to ensure quality in your dredging services?

What actions do you take to correct and compensate for any mistakes made throughout the project?

When was the last time you had to correct mistakes in your work?

How available is your staff to talk through project progress to ensure requirements are being met?

Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Project Management

How many project managers are assigned to each project?

What criteria do you use to assign project managers and employees to the different aspects of the project?

What do you believe is the ideal role a project manager should play at each stage of the project?

What actions should a project manager take when there are breakdowns in various steps of the project?

Relationship with the Buyer

How long have you had your longest-serving client?

What are the strongest incentives buyers have for securing long-term, repeat business with your firm?

What is the biggest reason for clients deciding not to seek repeat business with your company?

What do you consider the most significant benefits from developing long-term relationships with clients?

Employee Turnover

What is your average turnover rate for employees?

What incentives do you offer your employees to reduce the likelihood of turnover?

How do you mitigate the adverse effects of employees leaving mid-project?

What measures do you take to reduce the learning costs associated with assigning new employees to a project?

Outsourcing

What outside consultants or contractors are you planning on involving in the project? How will their involvement affect the price and timing of our project?

What criteria do you use to select your outside vendors?

How often do you use the same vendors?

What role do you allow your clients to play in selecting the outside vendors you use?

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Key elements for every RFP

What should my RFP include?

Project Budget

If a government entity, buyers should provide information regarding the department that is in charge of determining the budget and providing funding.

Buyers should provide an estimate of their budget.

Buyers should provide an acceptable range for contingency costs.

Buyers should state their desired pricing model for the services (i.e. fixed cost or time and materials)

Selection Criteria

Buyers should provide a main point of contact that will be involved in the evaluation process.

Buyers should evaluate suppliers based on their ability to carry out the necessary services and how they have performed with similar services in the past.

Buyers should consider the supplier's level of customer service.

Buyers should consider the price of the services, including additional costs that may occur and how the supplier handles cost overruns.

Project Schedule

Buyers should include a detailed outline of the key dates that pertain to the RFP process, including the date to submit questions, the date to inspect facilities, the date of which questions will be answered and the final proposal deadline.

Buyers should provide an estimate of when final service provider selection will be made.

Buyers should provide a timeline of key dates once the vendor is selected and the project is underway, such as the date that suppliers can transport their equipment to the site and the date services will begin.

Buyers should state the length of the contract and the frequency in which services will be provided (e.g. monthly, weekly, ongoing).

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain associated with dredging services has a low level of risk. Generally, key first tier upstream suppliers present minimal risk to the supply chain. Service providers rely on boat manufacturers and machinery manufacturers to provide the necessary equipment to carry out operations; therefore, issues in the supply of... Subscribe to learn more.

HIGH

MEDIUM

LOW