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Procurement Market Intelligence Report

Relays
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Relays?

What is the average price of Relays?

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

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 Relays 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 concentration for the relay market is moderate. According to ProcurementIQ estimates, there are more than 900 relay suppliers operating in the United States, the majority of which are small to midsize manufacturers and wholesalers. Nonetheless, the top four vendors, General Electric, Eaton Corporation, Schneider Electric and ABB Ltd., have... 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?

Competition

How do you win and retain business?

How long have you provided products to your longest-tenured client?

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

What sets your product apart from your competitors?

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

How do you stay competitive in the market?

Supply Chain Risk

How do you manage risk in your supply chain?

Specifically, how has your company handled supply chain risk as a result of the COVID-19 pandemic?

Who are your most important suppliers? How long have you been in business with them?

How many suppliers do you source from? Are your suppliers affected by the coronavirus outbreak?

How often do you evaluate your supply chain's prices to ensure they are still competitive?

Customer Service

Do clients have a dedicated account manager or do they call a general support line?

How many clients does each account manager look after?

What systems/software do you use to manage accounts?

Do you offer 24/7 customer account/technical support?

Do you have response-time benchmarks for following up with/problem solving for a client?

What is your process for dealing with customer problems and complaints? Do you have an escalation process?

Vendor Financial Risk

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 stay profitable during economic downturns, such as during this current recession caused by the coronavirus outbreak?

How are your other divisions/ventures performing? What impact does their performance have on this division?

What investments are you making in the company's future (e.g. new products, R&D, new plants, etc.)?

Experience

What are some similar clients you have serviced, along with dates and service period?

Could you provide key personnel backgrounds and experience?

What industry do you most commonly supply this product for?

Will you help design and build customized products?

Tell me about similar projects you have worked on in the past. What challenges did you face, and how did you overcome them?

Inventory Control

Where are your manufacturing facilities located? What about your warehouses? What product or service does each location provide? Are any of these facilities or warehouses negatively impacted by the coronavirus outbreak?

How will product flow from supply points to multiple distribution centers?

Do you have local warehousing facilities or partner with any local warehouses?

Is your entire supply chain and reordering process electronic?

Is material suitably identified and protected from damage during storage, production and delivery?

What is your usual inventory level for this kind of product?

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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 dictate their preferred schedule for payments.

Buyers can consult the Benchmark Price and Total Cost of Ownership sections of this report to gain a better understanding of this market’s average pricing.

Selection Criteria

Buyers should take into account the level of experience of a vendor, particularly as it relates to technical expertise.

Buyers should evaluate the reputation and brand of a vendor.

Buyers should assess the additional services and benefits that a vendor may offer, such as rewards program and membership discounts.

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

Project Schedule

Buyers should indicate when bids are due and when the award will be announced.

Buyers should specify delivery dates and locations.

Buyers should include any other important dates on the RFP timeline

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain risk for the average relay vendor is moderate. Relays are typically made from a mix of electrical components, such as semiconductors, contacts and armatures, which all contribute to the operational capacity of the device. These components' material inputs are global commodities, such as copper, zinc and iron.... Subscribe to learn more.

HIGH

MEDIUM

LOW