Learn about actual and potential costs
How much should I pay for Electronic Logging Devices?
What is the average price of Electronic Logging Devices?
This procurement report includes pricing information to help you purchase Electronic Logging 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 Electronic Logging 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 Electronic Logging 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 Electronic Logging 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 Electronic Logging Devices with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
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?
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?
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Key elements for every RFP
What should my RFP include?
Buyers should state their total budget for ELD hardware and related software subscriptions or modules.
Buyers should indicate their expectations for payment methods and payment timelines. For example, buyers should state whether they will pay over the length of the contract or pay upfront.
Buyers can reference the benchmark price of this report for assistance in establishing benchmark budgets.
Buyers should inquire into any additional charges or fees that they may incur during the course of the contract, including hardware warranties, software licenses, installation costs, maintenance fees and the cost of technical support.
Buyers should inquire into any additional charges or costs for upgrading software or adding new features during the lifetime of a contract.
Buyers should consider what other value-added services a supplier can offer due to the wide variation in service offerings in this growing market.
Buyers should evaluate the level of customer service of each supplier, which can be assessed through past client references.
Buyers should prioritize suppliers that have experience with clients with similar sized fleets and are able to guarantee a high level of service.
Buyers should select service providers that put considerable time into initial data and software assessments of buyer operations to ensure the service provider offers the highest quality solutions that match the buyer’s needs.
Buyers should prioritize providers that are developing new software features and telematics hardware solutions.
Buyers should include the date when proposals are due and when the bid will be awarded.
Buyers should include key benchmark dates, such as the date by which implementation of the new ELD must occur and the dates on which fleet operators will be trained.
Buyers should indicate their preferred start date for software implementation and the Go Live Date for software.
Buyers should outline penalties for missing project schedules with software providers to mitigate timeline and cost overruns.