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Procurement Market Intelligence Report

Electrical Safety Devices
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Electrical Safety Devices?

What is the average price of Electrical Safety Devices?

This procurement report includes pricing information to help you purchase Electrical Safety Devices. 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 Safety Devices 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 Safety Devices 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 Safety Devices?

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 Safety Devices 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 in the electrical safety device market is moderate, with the top four suppliers accounting for about 35.0% of market revenue. ProcurementIQ estimates that there are about 2,240 manufacturers and distributors of electrical safety devices in the United States. The moderate level of market share concentration has increased... 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?

Quality Control

How often do you experience defects with your products? To what degree are in-process inspections and process controls carried out?

What is your acceptable margin of error for the products I am seeking to purchase?

How many recalls have you had? Were they voluntary or mandated?

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? What performance monitoring systems are in place at your company?

Coronavirus

Do you source materials with a high exposure to market disruptions resulting from the pandemic? 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?

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?

Are you experiencing fluctuations in demand as a result of the coronavirus pandemic? What measures are you taking to handle changes in demand?

Installation

Are there any electricians that you can recommend to install the devices you are selling me?

What qualifications should the installer that I hire have?

Can the electrician that I hire contact you if they encounter difficulty in installing the device?

How much does installation typically cost?

Product Line

Do you offer any complementary products or services with the purchase of electrical safety devices? If so, what are they?

What additional products or services do you offer separate from the purchase of electrical safety devices?

What additional products or services do you recommend be purchased alongside electrical safety devices? Why?

What type of discounts do you offer for specific types or brands?

What samples do you offer?

Do you have any agreements with group purchasing organizations or integrated delivery networks?

Customer Service

What is the average wait time to talk to a customer service representative?

What are your standard procedures in the event that an electrical device is lost or damaged?

Can you describe a recent customer issue and how it was handled?

How do you measure customer satisfaction? What steps have you taken to improve?

Outsourcing

Do you manufacture the products, or does another company manufacture them?

Are the devices manufactured in the United States?

Where do you source your materials to produce the electrical devices?

Have you had problems with delays in delivery from your suppliers?

Have you had problems with quality from your suppliers in the past?

Financial Stability

Has your company ever been at risk of bankruptcy? How were your clients affected during this period?

How much of your revenue comes from your five largest customers? What impact on your profitability would there be if you lost a big customer?

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?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify their budgets for electrical safety devices and any desired related services and goods, such as electrical system components and electrician services.

Buyers should indicate when payment will occur, such as upon award of the contract or over a period of time.

Selection Criteria

Buyers should look for vendors that offer devices that meet the requirements of the RFP.

Buyers should evaluate vendors based on previous client testimonials and their ability to provide quality customer service.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should provide the date and time when proposals are due and when award information will be available.

Buyers should include the RFP schedule and expected timeline for product delivery.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for electrical safety devices exhibits an overall moderate level of risk. While supply chain risk hurts buyer power by increasing the likelihood of volatile prices for electrical safety devices, it is unlikely that the supply chain would be disrupted in such a way that would prevent electrical... Subscribe to learn more.

HIGH

MEDIUM

LOW