Learn about actual and potential costs
How much should I pay for Metal Casting Services?
What is the average price of Metal Casting Services?
This procurement report includes pricing information to help you purchase Metal Casting 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 Metal Casting 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 Metal Casting 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 Metal Casting 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 Metal Casting 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 ?
Market share concentration among suppliers of metal casting services is low; there are an estimated 1,500 companies offering metal casting services in the United States, and the top four vendors in the market (Precision Castparts, Hitachi, American Axle and Allegheny Technologies) account for just under 20.0% of market revenue. The... 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?
Can you detail the scope of your operations and quality control procedures that are in place?
Have you served businesses like mine? If so, can you provide a portfolio of similar projects you have worked on?
Who are your current clients?
How long have you provided metal casting services to your longest-tenured client?
How long have you worked in this market? What types of metal casting services do you specialize in?
Do you source materials with a 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?
Amid widespread health concerns, what contingency plans are in place to mitigate the 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 pandemic? What measures are you taking to handle increased or reduced demand?
What kind of troubleshooting services do you offer? What is your average response time?
In case of unforeseen events, how quickly can you provide alternatives and the corresponding information on the cost and tooling?
Do you offer 24/7 customer account and technical support services?
Do you have response time benchmarks for following up with a client's issue? How long does it normally take for account managers to follow up with service requests?
What are the benefits of working with your company compared with other suppliers?
What kind of warranties can you provide for the integrity of the work?
What is your reputation like among customers and how have you developed it?
How do you attract and retain clients?
What incentives do you offer to long-standing clients?
How readily available are your products or equipment parts?
Do you offshore your production overseas? If so, to which countries do you offshore your production activities?
Do you offer ongoing staff training and development? If so, how much is spent annually on this training?
How do you address fluctuations in the costs of raw materials? How does volatility in raw material costs affect the prices that buyers pay?
How do you achieve efficiency in your operations (e.g. maximizing fuel efficiency in service delivery)?
What is the volume at which you are willing to offer a discount? How much of a discount is it?
How does the contract term length affect price?
Do you offer any samples of metal casting products prior to purchase?
Do you offer any customer rebates? If so, do you impose certain requirements?
Does your firm have the capacity to handle our requirements?
Will any subcontractors be hired to work on our project?
If subcontractors are used, what specializations do they have?
Would your need for subcontractors be for capacity or specialization purposes?
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Key elements for every RFP
What should my RFP include?
Buyers should include as much information about the total scope of the project as possible.
Buyers should include information about the payment schedule (i.e. if it is incremental or done at the completion of the project).
Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for these services.
Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be adherence to specifications, delivery performance and level of customization.
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 timeline of the project, including any design stages and walkthroughs.
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?
Supply chain risk in the metal casting services market is moderate. Vendors in this market rely on inputs from a variety of upstream suppliers, including steel and aluminum producers. Because purchases make up 40.0% of the average vendor's cost structure, buyers should be aware of how shifts in the supply... Subscribe to learn more.