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Procurement Market Intelligence Report
Industrial Design Services
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Industrial Design Services?
What is the average price of Industrial Design Services?
This procurement report includes pricing information to help you purchase Industrial Design Services. 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 Design Services 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 Design Services 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 Design Services?
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 Design Services 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 an estimated 12,950 suppliers of industrial design services in 2020. Market share concentration for industrial design services is low, with the top four companies accounting for less than 30.0% of total market revenue. Low barriers to entry have contributed to the market's fragmented state. Buyers benefit from low... 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?
Qualifications
On average, how many years of experience does your staff have in my field? How does that measure up to the market average?
Tell me about similar projects you have worked on in the past. What challenges did you face and how did you overcome them?
How long have you provided similar industrial design services to your longest-tenured client? Who are your five largest clients?
What is your implementation plan for my project?
Employees
Do you provide ongoing training and development for your employees?
What is the average tenure of your employees? Do you experience trouble with turnover? If so, how does that affect service delivery?
Are staff members permanently assigned to clients, or do clients work with different personnel for each project?
How much access will I have to senior staff members on my project?
Customer Support
Do clients have dedicated representatives, or will they have to call a general support line?
If a client is dissatisfied with the design, what steps does it take to address the issue?
How do you evaluate customer satisfaction? Are the findings available to clients?
How frequently will you provide progress reports?
Competition
How do you attract new clients and retain existing clients?
How does your firm maintain a competitive edge?
What is your client turnover rate? How long do your contracts last, on average?
What incentives do you give to long-term clients to stay with your company?
Timeliness
What is your on-time delivery rate?
What checks and balances are in place to assure that the work is done on time without sacrificing quality?
What is your process for working on multiple projects concurrently?
What is your average turnaround time for design projects of this size?
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?
Accuracy
How do you balance quick turnaround times with maintaining maximum level of accuracy?
What credentials and certifications do you hold?
How do you ensure the quality of your service? What systems, tools and software do you have in place to minimize the number of errors?
What kind of warranties can you provide to cover the integrity of the design work?
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Key elements for every RFP
What should my RFP include?
Project Budget
Buyers should specify the total budget for the service.
Buyers should list miscellaneous design services not provided in the statement of work.
Buyers can consult the Benchmark Price section of this report for help creating a budget.
Selection Criteria
Buyers should prioritize design firms that are located nearby to reduce lead times.
Buyers should ask for a list of references from current and former clients.
Buyers should prioritize firms that can provide services in a timely manner.
Buyers should prioritize firms that have the capability to provide product testing services.
Buyers can consult the Buying-Decision Scorecard section of this report for help selecting a vendor.
Project Schedule
Buyers need to indicate the date when proposals are due.
Buyers should specify the desired contract length and the potential for contract renewals.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for industrial design services poses a low level of risk though this has been somewhat elevated during the COVID-19 pandemic. Suppliers source the majority of their inputs from computer stores, packaged software publishers and office supply stores, which pose a low degree of risk to industrial design... Subscribe to learn more.
HIGH
MEDIUM
LOW
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