Learn about actual and potential costs
How much should I pay for Mining Engineering Services?
What is the average price of Mining Engineering Services?
This procurement report includes pricing information to help you purchase Mining Engineering 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 Mining Engineering 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 Mining Engineering 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 Mining Engineering 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 Mining Engineering 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 mining engineering service market is highly fragmented, with the top four players accounting for less than 30.0% of total market revenue. Overall, there are about 3,740 companies offering mining engineering services in the United States. The majority of suppliers are small to midsize companies that operate on a regional... 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?
What alternative fee structures does your company provide, if any?
How has your average price been changing during the past three years?
Do you offer discounts if the contract covers a series of projects?
Is it possible to expedite lead time, and if so, how much would that cost?
Do you source materials with 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?
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?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?
Supplier Financial Risk
Has your company ever been at risk of bankruptcy?
How much of your revenue comes from your five largest customers? What impact on your profitability would there be if you lost a big customer?
How does your company remain profitable during economic downturns?
How do rising input costs affect your profitability and what measures do you undertake to protect your bottom lines?
Customer Service & Quality
How do you track customer satisfaction?
Do you provide client references?
Have you had major complaints in the past? How have you dealt with them?
How many of your clients are repeat customers? Do you have any customer testimonials for reference?
How does your service differ from that of similar-size competitors? How do you acquire and retain business?
With many vendors offering free estimates for service, do you provide other incentives to attract clients besides price?
Are you looking to expand your service offerings or focus on a few specialties? How will this influence the selection of service plans?
What is your reputation compared to your peers in the mining engineering service market?
What additional support services are included in your quoted price?
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 might need?
How have your value-added services affected the level of competition you face from other competitors?
What key mining markets do you focus on? How close are you to these markets to provide timely service?
How do you monitor your business connections to ensure an efficient and proper supply of inputs?
Are prices from your suppliers locked in or subject to change?
Do you plan on making any changes to your supply chain that are likely to cut costs in the future?
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Key elements for every RFP
What should my RFP include?
If one exists, buyers should specify their budget for mining engineering services and any related products and services.
Buyers should request details of the current pricing structure and available billing models.
Buyers should request details regarding service guarantees, cancelation policies or refunds.
Buyers can reference the benchmark price and total cost of ownership sections of this report for assistance in creating a budget.
Buyers should specify their evaluation process for the submitted proposals, including technical and financial evaluation.
Buyers will evaluate potential vendors based on their ability to fulfill the buyer's project requirements and expectations.
Buyers will evaluate potential vendors based on their experience carrying out related projects and qualifications of the staff assigned to this project.
For other selection criteria requirements, buyers should reference the buying-decision scorecard section of this report.
Buyers should outline the tentative schedule and process for the RFP and project.
Buyers need to include the date when proposals are due and when the award will be announced.
Buyers should provide an estimated timeframe for assessing the mine and proposing solutions.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for mining engineering services carries a low risk, benefiting buyer power. Suppliers of mining engineering services largely rely on labor inputs and administrative and professional service providers. Although shortages in qualified labor can cause labor costs to fluctuate slightly, an abundance of administrative and professional service providers... Subscribe to learn more.