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Procurement Market Intelligence Report

Pallet Trucks
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Pallet Trucks?

What is the average price of Pallet Trucks?

This procurement report includes pricing information to help you purchase Pallet Trucks. 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 Pallet Trucks 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 Pallet Trucks 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 Pallet Trucks?

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 Pallet Trucks 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 pallet truck market has a low level of market share concentration, with the top four suppliers accounting for less than 30.0% of total market share. Low market share concentration results in high competition between suppliers, which both suppresses and stabilizes list prices for pallet trucks. Buyers benefit from this... 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?

Regulation

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?

Experience

How long have you been active in the pallet truck market? How long have you served operators in my market?

Could you provide a list of client references, along with contact information?

To what industry do you most commonly supply pallet trucks?

Will you help design and build customized pallet trucks?

Competition

How do you win and retain business?

How long have you provided pallet trucks to your longest tenured client?

What is your reputation like among competitors and customers and how have you developed it?

Do you offer any value-added products or services that your competitors do not?

How do you stay competitive in the market?

What proprietary inputs/processes do you use that differentiate you from competitors?

How will your company deal with increasing import penetration?

Product Offerings

How many different brands do you carry?

What types of pallet trucks do you carry?

What are your best-selling models or brands?

Do you offer pallet trucks with extreme weight capacities?

What volume of pallet trucks do you have readily available?

Product Quality

Do you employ quality control personnel or systems? If so, how many staff members and what kinds of systems do you use?

How do you test the pallet trucks before they are sold?

What is the failure/exchange/return rate for your pallet trucks?

Have you ever delivered a product that did not meet the quality standards of the buyer? If so, how did you rectify the situation?

What quality awards have you received in recent years?

Supply Chain Risk

How have your production costs changed during the past three years? Have they changed since the coronavirus outbreak?

How do input price fluctuations affect your clients?

What do you do to offset increases in production costs?

Do you have contracts with multiple raw material suppliers or manufacturers? Are they based abroad or domestically? How have they handled the COVID-19 pandemic?

What are your criteria for choosing the manufacturers or suppliers that you partner with?

How often do you evaluate your supply costs to ensure they are competitive?

Customer Service

How many staff members are responsible for customer service and support?

What kinds of repairs and services are included in the warranty, if applicable?

What procedures do you use to deal with dissatisfied customers?

Have you had any major complaints from past customers associated with product quality or delivery? If so, how have you dealt with their issues?

What incentives do you offer to repeat customers or referrals, if any?

Shipping

What are your shipping rates to my facilities? Do shipping rates vary if I need products shipped to more than one location? Have these rates changed amdist the pandemic and economic recession?

Do you have multiple distribution centers? Where are your distribution centers located? Are they located in areas affected by the coronavirus? If so, how has your company responded?

What is the most cost-effective shipping method?

Do you ship anywhere in the country? Has this changed due to COVID-19?

What logistical systems do you have in place to manage outgoing shipments?

Have you had any issues in the past year regarding late shipments? How has COVID-19 affected the timelineess of your shipments, if at all?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should explicitly state the amount of the contract award.

Buyers should explain when and how many payments will be made.

Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for each pallet truck.

Selection Criteria

Buyers should evaluate the experience of the supplier.

Buyers should make sure the provider offers pallet trucks with the appropriate specifications.

Buyers should evaluate suppliers based on the estimated costs of the units they are offering.

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

Project Schedule

Buyers need to include the date by which proposals are due and when award information will be available.

Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Supply chain risk is moderate for the pallet truck market. Although supply chain risks are unlikely to affect the continuity of the supply of main components or raw materials, they may impact prices that buyers ultimately pay for pallet trucks. Among first tier suppliers, gasoline and petroleum wholesalers pose the... Subscribe to learn more.

HIGH

MEDIUM

LOW