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Procurement Market Intelligence Report
Management Consulting Services
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Management Consulting Services?
What is the average price of Management Consulting Services?
This procurement report includes pricing information to help you purchase Management Consulting 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 Management Consulting 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 Management Consulting 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 Management Consulting 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 Management Consulting 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 ?
The management consulting services market exhibits a low level of concentration, with the top four suppliers comprising less than 15.0% of the market. Some of the largest corporations in the world operate in this market, but the large number of boutique firms and individual consultants leads to high fragmentation overall.... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Subcontractors
Does your consulting firm have the capacity to handle my company's requirements?
Will any subcontractors be hired to work on my project?
If subcontractors are used, what specializations do they have?
Why are subcontractors needed? For capacity or specialization purposes?
How do you ensure the quality of work performed by subcontractors?
Proprietary Software & Technology
Do you use any proprietary software or technology?
What are the advantages of using your software as opposed to internal systems?
Does your software need to be licensed?
Is it required to use your proprietary software or technology, or can my company use its own systems?
If I decide to switch suppliers, is it possible to save the information contained in proprietary systems?
Competition & Barriers to Entry
How do you win and retain business?
What is your reputation among your peers?
How long have you had your most-tenured client?
What do you consider to be best market practices in terms of switching providers?
What makes you stand out from the competition?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?
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Key elements for every RFP
What should my RFP include?
Project Budget
Buyers should specify their budget for management consulting services.
Buyers should detail their preferences as to how to proceed if the budget is exhausted before services are completed.
Buyers should list payment schedules.
Buyers should request detailed cost breakdowns for the services requested.
Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Selection Criteria
Buyers should evaluate vendors based on their methodology and the quality of their work plan.
Buyers should select vendors with industry expertise and extensive experience with projects that are similar in scope to the buyer's.
Buyers should evaluate vendor qualifications, including individual consultants' qualifications.
Buyers should consider references from previous clients to evaluate vendor reputation.
Buyers should also evaluate vendors based on cost.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers should outline when proposals must be submitted.
Buyers should communicate to prospective suppliers when bid awards will be posted.
Buyers should state when the consulting services should begin.
Buyers should outline the length and terms of the contract and cancellation policy.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Management consulting service providers face a low risk of service interruptions and sudden supply price shocks; thus, supply chain risk in the market is low. Suppliers primarily rely on upstream service and solutions providers, including law firms, commercial real estate lessors and software publishers. Although commercial real estate lessors are... Subscribe to learn more.