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Procurement Market Intelligence Report

Industrial Brakes
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Industrial Brakes?

What is the average price of Industrial Brakes?

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

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 Brakes 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 industrial brake market has a medium level of market share concentration, with the top four vendors generating about 31.0% of market revenue. As of 2020, there are an estimated 960 suppliers that sell industrial brakes. The market is moderately concentrated due in part to its high barriers to entry.... 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?

Supply Chain

How have changes in your supply chain affected your operations in the past three years?

How diversified is your supplier base?

How often do you evaluate your suppliers' prices to ensure they are still competitive?

Do you have alternate suppliers? If so, who are they?

Are you currently engaged in supply contracts with your suppliers that limit potential price increases?

COVID-19

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Amidst widespread health concerns, 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?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

Quality Control

How do you ensure high quality in your manufacturing processes?

Describe your quality-control procedures. Do you employ quality-control personnel? If so, how many staff members are in this department?

What is your production defect rate?

What types of quality issues have you experienced in the past?

What, if any, systems do you use to ensure product quality?

Delivery

How long is your average shipping time?

Do you provide shipping in house or use an outside shipping supplier?

How do you prevent shipping damage?

What do you do if a shipment is damaged or incorrect? How quickly can you remedy the situation?

Experience

How long have you been manufacturing industrial brakes?

What certifications or awards have you received? What kinds of evaluation were required to earn this recognition? Are you ISO certified?

Are you able to manufacture customized brakes for my application?

How have you differentiated your business from your competitors' in the past three years?

Imports

How have rising imports affected your business?

How does the quality of your products compare to imported industrial brakes?

Why should I purchase from you rather than from an overseas supplier?

How has the dollar's exchange rate affected your business in the past three years?

Warranty

Do you offer a warranty on all of your brakes? How does your warranty compare to your competitors'?

What are the terms of the warranty?

Describe the process to file a warranty claim. How long does it take to fulfill a claim?

Can I purchase an extended warranty?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should explicitly state the amount for the award.

Buyers should explain the schedule with which payments will be made.

For assistance in ascertaining a reasonable price and price range for industrial brakes, buyers can consult the Benchmark Price section of this report.

Selection Criteria

Buyers should look for suppliers that have been in business for a long time and have direct experience providing the kind of industrial brakes they are seeking.

Buyers should ask for a list of references from current and former customers.

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

Project Schedule

Buyers should communicate to prospective suppliers when award information results will be provided.

Buyers need to provide due dates for any ongoing maintenance work or deliveries.

Buyers should provide general expectations with regards to response time and customer service.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for industrial brakes is moderately risky because of the frequent fluctuations in the prices of raw materials that are essential for the industrial brake production process, specifically steel. Steel, which is a central link in the supply chain, often undergoes sudden price shifts as global demand rises... Subscribe to learn more.

HIGH

MEDIUM

LOW