Learn about actual and potential costs
How much should I pay for Flexible Packaging?
What is the average price of Flexible Packaging?
This procurement report includes pricing information to help you purchase Flexible Packaging. 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 Flexible Packaging 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 Flexible Packaging 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 Flexible Packaging?
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 Flexible Packaging 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 about 2,863 suppliers and a medium level of concentration in this market. The top four companies in the market account for between 30.0% and 40.0% of total market revenue. However, many flexible products are fairly commoditized and do not require specialized knowledge or machinery to produce or distribute.... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
What forms of special packaging do you have to protect food? What about for other types of products?
What added features do you provide to protect against physical damage?
What additional features do you provide to protect against external damage? What about to keep products fresh?
Will you describe the customization features that you offer? How do these affect price?
What new products/solutions have you introduced to address issues brought on by the coronavirus pandemic?
Where are your manufacturing facilities located? What about your warehouses?
Which location would be the primary supplier of my business?
Can you describe the different capabilities of each facility? What products and services does each location offer?
How do your packing and transportation procedures minimize transit risks?
How do your transit procedures minimize cost and transit times?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
How will you adjust to volatile plastic costs?
Do you source from multiple or single suppliers? How does this affect your costs?
How do you check for operational efficiency? How often do you check?
How do you minimize labor, administrative and other costs?
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Key elements for every RFP
What should my RFP include?
Buyers should provide the total budget for their order, including a breakdown of the price per unit. This budget should account for any additional costs, such as shipping.
Buyers should protect themselves against future price increases by locking in a price per package.
Buyers should note if they are looking to make recurring flexible packaging purchases or obtain other types of packaging materials from the same vendor, and seek discounts accordingly.
For help creating a budget, buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report.
Buyers should select a vendor that presents a timely proposal that meets their quality and budgetary standards and provides samples if requested.
Buyers should opt for a vendor that is able to present strong references from past clients.
Buyers should maintain a clear list of criteria weighing the key pricing and quality factors that are of the highest priority. For help creating selection criteria, buyers can use the Buying-Decision Scorecard section of this report.
Buyers should denote all relevant dates in the RFP process that bidders must follow.
Buyers should include a payment schedule and specify when final payment will be complete.
Buyers should request a quality guarantee from the vendor to insure against purchasing packaging below the standards presented in the RFP.
Evaluate major factors to mitigate risk
How risky is the supply chain?
There is a moderate supply chain risk for flexible packaging suppliers due to the risks associated with plastic and resin manufacturing. Because plastic resins and materials are derived from oil, the price of plastic mirrors volatility in oil prices. In the three years to 2020, plastic prices have been highly... Subscribe to learn more.