Learn about actual and potential costs
How much should I pay for Mechanical Cable?
What is the average price of Mechanical Cable?
This procurement report includes pricing information to help you purchase Mechanical Cable. 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 Mechanical Cable 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 Mechanical Cable 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 Mechanical Cable?
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 Mechanical Cable 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 ?
ProcurementIQ estimates that there are 1,460 mechanical cable suppliers operating in the United States, with the top four vendors accounting for under 30.0% of market revenue. This figure indicates a low level of market share concentration. The market has high barriers to entry due to the significant up-front capital requirements... 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?
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?
Where do you source your metal from?
Have you ever experienced any supply chain disruptions or shortages in the past? How have you handled these shortages?
If I was to use you as my sole supplier, would a price escalation clause be a part of the contract?
How do you mitigate risk associated with acquiring metal inputs?
When was your company established and how long have you been operating in this market?
Who has been your largest client and were they satisfied?
How do you track customer satisfaction, and do you have client references I can look over?
What is your repeat customer percentage rate?
What is your past experience working with a company of my size?
How many branches do you have across the United States? Across the world?
What is your delivery schedule and turnaround rate?
What is your return policy on faulty cables?
What is your delivery on-time rate?
Can you overnight large quantities of cables at various sizes?
What was your latest product and when was it introduced?
Did you increase break strength, tensile strength, corrosion resistance or abrasion resistance?
When do you expect to have a new line of products out?
How do you respond to new introduction by competitors?
Service & Replacements
What is the average life span of this particular cable?
Do you have customer assistance lines to help if there is a problem with my cable?
What is the average cost of maintenance?
What sort of preventative measures can I take to avoid costly replacements?
How many reports of malfunctions has your company received in the past three years?
How many of your products have been recalled in the past three years? What were the primary reasons for these recalls?
What measures do you take to ensure product quality?
How do sudden demand increases affect the quality of your products?
How frequently are your facilities updated and how does your company incorporate new manufacturing technologies?
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Key elements for every RFP
What should my RFP include?
Buyers should include all relevant information for vendors to create a cost proposal.
Buyers should provide information about when payment will occur. For example, buyers should say whether payment is awarded upon finalization of the contract or over a period of time.
Buyers can refer to the Benchmark Price and Total Cost of Ownership sections for help creating a budget.
Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be reputation, credentials of staff, customer service and product certification.
Buyers should also choose a supplier based on the price estimate given.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include a deadline for proposal submittals and when the contract will be awarded.
Buyers should include a timeframe for the delivery to occur as well as dates for suppliers to survey the work area.
Buyers should include any other benchmark dates that are relevant to the project.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Mechanical cable suppliers are subject to a moderate level of supply chain risk. Steel is the primary input in the production of mechanical cables. The prices of steel and other metals used by suppliers are subject to volatility stemming from shifts in global supply and demand trends, domestic building activity,... Subscribe to learn more.