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Procurement Market Intelligence Report

Greases
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Greases?

What is the average price of Greases?

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

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 Greases 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 among grease suppliers is moderate, with the top four suppliers accounting for roughly 50.0% of the total market revenue. This moderate concentration is a reflection of the market's mix of multinational suppliers that have vertically integrated operations and midsize vendors serving local, regional and national markets. ProcurementIQ... 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?

Pricing

What share of rising input costs am I responsible for? What share does your company absorb?

If input costs decrease, will that be reflected in a lower price?

Do you have a cap on the number of price increases in a given year if input costs are rising?

Do you offer price discounts for buying in bulk or for longer-term contracts?

Company Dynamics

How large are your company's operations?

How does the size and scope of your operations compare to your competitors'?

For manufacturers: Where do you manufacture your grease?

For wholesalers: What criteria do you use in deciding which products to stock?

Quality

Can I see a list of references?

Do you belong to any product-related associations or organizations?

Have you won any quality awards or other recognitions?

Have you ever been cited for any regulatory infractions?

Competition

How is your product different from the products of your competitors?

How significant are capital-related expenses?

How significant are labor expenses?

How much of your annual revenue do you invest in R&D?

Has your market share increased or decreased in the past three years?

Customer Service & Incentives

How do you win and retain business?

What incentives do you offer to long-term customers?

Do you offer any incentives to customers that refer business to your company?

Are there any promotional deals going on for first-time customers?

Who is the point of contact for any service or product-related issues?

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?

Delivery

What percentage of your deliveries have been early, on time and late, respectively, in the past year?

What are the most common reasons for shipment delays?

What protocols do you have in place to prevent and minimize the impact of shipment delays?

Are there any discounts offered for product delays?

How are you coping with any delays for materials with a high exposure to coronavirus-related market disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions to mitigate the risk of service discontinuity for buyers?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should provide a total dollar amount for the contract.

Buyers should clearly state what unit they want price quotes presented in.

Buyers should set expectations regarding shipping and handling costs.

Selection Criteria

Buyers should prioritize suppliers that can provide competitive prices.

Buyers should prioritize suppliers that have a proven record of performing in this market.

Buyers should prioritize suppliers that have received strong reviews from references.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers must provide a due date for responses.

Buyers must provide a due date for any questions or requests for clarification.

Buyers should provide a date for when they will announce the contract award.

Evaluate major factors to mitigate risk

How risky is the supply chain?

There is a moderate degree of supply chain risk in the greases market. Moderate supply chain risk curbs buyer power because it indicates there is a slight risk of supply disruptions or price spikes. Fortunately for buyers, supply chain risk does not impede a buyer's ability to source greases. ... Subscribe to learn more.

HIGH

MEDIUM

LOW