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Procurement Market Intelligence Report

Metal Forming Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Metal Forming Services?

What is the average price of Metal Forming Services?

This procurement report includes pricing information to help you purchase Metal Forming 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 Forming 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 Forming 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 Forming 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 Forming 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 market for metal forming services has a low level of concentration, with the top four suppliers accounting for less than 30.0% of market revenue. ProcurementIQ estimates that there are about 870 vendors offering metal forming services in the United States. The market is highly fragmented because most vendors offer... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Competition

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?

Production Costs

How readily available are your products or equipment parts?

Do you offshore your production overseas? If so, which countries do you offshore your production activities to?

How have these facilities been impacted by the economic policies implemented to alleviate the impact of the coronavirus in the affected country? Will this cause your production costs to change?

What supply chain disruptions have your business experienced during the global pandemic? What steps have you taken to resolve these disruptions?

How do you address the rising cost of raw materials? How does volatility in raw material prices affect the prices that buyers pay?

Do you offer ongoing staff training and development? How does that impact service rates?

Value-Added Services

What value-added services do you provide? How will including value-added services impact pricing?

Do you offer discounts for bundled services and, if so, what are the terms?

Could you refer me to another firm for related services I may need?

Do you give a competitive discount if I switch from another provider to your company?

Subcontractors

Will any subcontractors be hired to work for the project? If so, what are their experience and credentials? How are they selected for the project?

What is the need for subcontractors? For capacity or specialization purposes?

Are you a part of a larger contractor group? If so, how has this affected your profit margins?

Do you guarantee the work performed by subcontractors? What systems are in place to ensure they deliver a high-quality service?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify preferred payment terms and length of contract.

Buyers should provide information regarding their budget for additional services.

Selection Criteria

Buyers should specify what measures of quality they will be using to select a supplier.

Buyers should request references from current and former clients.

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

Project Schedule

Buyers should include a deadline for proposal submissions and when the contract will be awarded.

Buyers should specify the required duration of the contract and the potential for renewal(s).

Evaluate major factors to mitigate risk

How risky is the supply chain?

Supply chain risk for metal forming services is moderate. In this market, vendors rely on inputs from a variety of upstream suppliers that produce steel, aluminum and other goods. Because purchases make up about half of a vendor's cost structure, buyers should be familiar with the supply chain's vulnerabilities. ... Subscribe to learn more.

HIGH

MEDIUM

LOW