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Procurement Market Intelligence Report

Industrial Absorbents
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Industrial Absorbents?

What is the average price of Industrial Absorbents?

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

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 Industrial Absorbents 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 ?

The top four suppliers of services (Brady Corporation, Ecolab, 3M and Rayonier Advanced Materials) account for less than 20.0% of the market in 2021, indicating a low level of market share concentration. ProcurementIQ estimates that there are more than 1,500 companies supplying industrial absorbents in the United States, the majority... 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?

Shipping & Distribution

Could you provide a list of your distribution facilities' locations, both domestic and internationally, if applicable?

What are your shipping rates to my facilities? How are these rates affected when shipping to multiple locations?

What logistical systems do you implement to ensure my shipments leave on time?

What is your record for on-time delivery?

How quickly do you respond to new orders?

Competition

Why is your product more or less expensive than your competitors'?

What sets your product apart from your competitors'?

How do you attract and retain customers?

How do your research and development expenses compare to your competitors'?

Supply Chain

How have fluctuations in the price of key inputs affected the price of your absorbents?

What types of agreements do you have with your suppliers? How much time is left on these contracts?

How diversified is your supply chain? How will a delay in a single upstream supplier affect me as the buyer?

How do you mitigate sudden price increases in raw materials?

Which percentage of your supply chain is vulnerable to shipping disruptions in the market dynamics caused by the COVID-19 pandemic?

Vendor Financial Risk

Has your company ever been at risk of bankruptcy? What actions were taken to prevent this?

How does your company stay profitable during economic downturns?

What investments are you making in your company's future?

Have rising input costs affected your profitability?

Experience

How long has your company produced industrial absorbents?

What are some clients with operations similar to mine that your company has been a supplier for?

What industry do you most commonly provide your absorbents to?

What is your repeat business rate for other companies in my industry?

Inventory

Where are your warehouses located in relation to your manufacturing facilities?

What is your typical inventory level for the products that I will be ordering?

How much product do you currently have in stock? How long does it take for you to obtain a product that is not in stock?

How often do your customers receive delayed shipments due to insufficient inventory?

Tell me about your inventory levels and manufacturing process during the COVID-19 pandemic?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify the total budget for their purchase.

Buyers must inform suppliers of their preferred shipping methods because this impacts their total cost.

Buyers should state whether they want to include any related good discounts in the contract.

Selection Criteria

Buyers should prioritize suppliers that will be able to provide their desired products and have a large inventory.

Buyers should look for vendors that carry a variety of absorbent types.

Buyers should consider vendors that carry quality products within the buyers budget.

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

Project Schedule

Buyers need to inform suppliers if they will be accepting questions or clarifications regarding the content of the RFP. If so, buyers must include a due date.

If applicable, buyers need to inform suppliers of a window of time where they intend to visit their facilities to inspect the supplier's inventory.

Buyers must give a due date for RFPs.

Buyers must alert suppliers of the award announcement date.

Evaluate major factors to mitigate risk

How risky is the supply chain?

There is a medium level of risk in the supply chain for industrial absorbents. The greatest risk that industrial absorbent suppliers face involves changes in input costs. Because purchases account for over half of suppliers' revenue, changes in the price of major input materials, such as inorganic and organic chemicals,... Subscribe to learn more.

HIGH

MEDIUM

LOW