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Procurement Market Intelligence Report

Flood Lights
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Flood Lights?

What is the average price of Flood Lights?

This procurement report includes pricing information to help you purchase Flood Lights. 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 Flood Lights 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 Flood Lights 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 Flood Lights?

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 Flood Lights 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 flood light market is low, with the top four suppliers generating less than 30.0% of total market revenue. As of 2019, there are over 15,480 suppliers of flood lights in the United States. Market share concentration has been decreasing at a slow rate during the... 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?

What kind of research do you conduct to stay up to date with the latest developments?

When poor performance occurs, what aspects of the flood light are usually impacted?

How many recalls have you had? Were they voluntary or mandated? What problems created the need for the recalls? How have you handled these recalls?

Experience

What clients and applications similar to mine have you served?

What is your repeat business rate for clients in my sector?

What buyer market do you most commonly supply this product for?

Will you help design and build customized products?

Related Goods

Do you offer any complementary products or services with the purchase of flood lights? If so, what are they? Do I have options?

Are there any incentives for repeat customers?

What promotional deals exist for bulk buyers?

What type of discounts do you offer for specific types or brands? What are the most popular related goods purchased with my product selection?

Power Draw

What are your most effective energy-efficient flood light solutions?

Do you recommend alternatives to flood lights to minimize our power consumption, given our intended application?

What are your recommendations in using this product to minimize power costs in terms of usage, related goods and electrical systems setup?

Are batch control procedures and inspection route cards used during all manufacturing processes?

Customer Support

Do clients have a dedicated account manager or do they call a general support line?

Do you offer 24/7 customer account/technical support?

How can customer service representatives be reached? What is the typical response time for each of these methods?

Do you have response-time benchmarks for following up with problem solving for a client?

Competition

What sets your product apart from your competitors'?

Do you offer any value-added products or services that your competitors do not?

How do you stay competitive in the market?

How do your R&D expenses compare to those of your competitors?

How much money do you spend on marketing to stand out from the competition?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify what the contract amount will be.

Buyers should clarify the terms of payment and length of contract.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of the report to get a better understand of the necessary budget.

Selection Criteria

Buyers should choose a vendor that can meet the necessary quality standards, particularly for brightness and durability.

Buyers should consider the activation time of the flood lights and how well it would meet their business needs.

Buyers should evaluate the power usage that the flood lights would use, as the directly correlates to overall operating costs.

Buyers should request samples from several of their top candidates before awarding the bid.

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

Project Schedule

Buyers should outline the timeline for RFP.

Buyers must include important dates, such as when proposals are due, when award will be announced and when flood lights need to be delivered by.

Buyers should include any other benchmark dates the vendors need to be aware of.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The market for flood lights is associated with a moderate level of supply chain risk. The greatest risk that flood light suppliers face is input cost fluctuations. Given that purchases constitute nearly half of the average supplier's revenue, changes in the prices of key inputs, such as aluminum and electric... Subscribe to learn more.

HIGH

MEDIUM

LOW