Learn about actual and potential costs
How much should I pay for Electrical Cable?
What is the average price of Electrical Cable?
This procurement report includes pricing information to help you purchase Electrical Cable. 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 Electrical Cable 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 Electrical Cable 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 Electrical Cable?
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 Electrical Cable 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 are an estimated 2,035 suppliers of electrical cable, with the top four vendors accounting for between 30.0% and 50.0% of total market revenue. This figure indicates that market share concentration among suppliers is moderate. Although electrical cable is fairly standardized and inexpensive to manufacture, significant capital requirements are necessary... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience & Expertise
What other similar companies or applications do you serve?
How do you keep up with the changes and advancements in electrical cable technology?
For wholesalers, how do you decide which products and brands to carry?
For manufacturers, what share of revenue do you allocate to research and development initiatives?
Do you offer warranties or product lifetime guarantees?
Are these services discounted if bundled with my product purchase?
What is the typical delivery time if a replacement cable is needed?
Do you have relationships with any preferred contractors that can provide discount installation services?
Do clients have a dedicated account manager or do they call a general support line?
How many clients does each account manager look after?
Do you offer 24/7 customer account or technical support?
Do you have response-time benchmarks for following up with or problem solving for a client?
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?
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Key elements for every RFP
What should my RFP include?
Buyers should explicitly state the amount for the award.
Buyers should describe the expected pricing model to be used (e.g. cost-plus).
Given the volatility inherent with inputs like copper and aluminum, buyers should list desired price ceilings or rate hikes that can arise from fluctuating input costs.
Buyers should explain the schedule with which payments will be made.
For assistance in ascertaining a reasonable price and price range for electrical cable, buyers can consult the Benchmark Price and Total Cost of Ownership sections of this report.
Buyers should consider price when making a supplier selection since product specialization is low.
Buyers should ask for a list of references from current and former customers.
Although importers can oftentimes provide lower prices, buyers should also consider local suppliers because it will cut down on shipping costs and will simplify communication.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should communicate to prospective suppliers when award information results will be provided.
Buyers need to provide due dates for any ongoing or scheduled projects and maintenance work.
Buyers should provide general expectations with regard to response time and customer service.
Buyers should list the expected start and finish dates once a prospective supplier is chosen.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for electrical cable is moderately risky. The bulk of supply chain risk comes from suppliers' reliance on copper, which is the primary input used to manufacture electrical cable. In fact, according to its most recent annual financial information, 81.4% of major supplier Encore Wire Corporation's raw material... Subscribe to learn more.