Skip to the content

Procurement Market Intelligence Report

Safes
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Safes?

What is the average price of Safes?

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

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 Safes 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 safe suppliers is moderate, with the top four suppliers accounting for roughly 40.0% of market revenue. An estimated 10,050 suppliers operate in the market, made up of about 50 manufacturers and roughly 10,000 distributors. It is difficult for a single supplier in the market to gain... 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?

Supply Chain

How does an increase in raw material prices affect your business and me as a buyer?

How would you deal with cost changes for manufacturing machinery?

Prices for some of your inputs have been volatile in the past. Do you have a plan for mitigating supply chain risk due to a cost fluctuation?

How do you assure the quality of your primary inputs?

Can you tell me about a time when there was a disruption in the supply chain? What did you do to fix it?

Delivery

What steps do you take to ensure deliveries arrive on time?

How do you transport the product?

What is your policy on returns?

How does the quantity of my purchase affect delivery price? Can I save on delivery costs by bundling other goods?

What if the product is damaged during delivery?

Company Experience

How long have you been in the business of manufacturing, wholesaling or retailing safes?

Is your firm insured or bonded?

Are you now or have you ever been involved in a merger, acquisition or other divestment? How does this impact your business?

Has your business ever gone through bankruptcy?

Customer Satisfaction

Do you have any long-term clients we can speak to as professional references? Can you describe their relationship with your company?

What is the average length of a customer relationship for your company?

How do I get in touch if there is an issue with my order?

How do clients typically review your performance?

Product Reliability

What is the average lifespan of this safe?

How often are defective products reported?

Do you offer replacement parts should any individual safe component fail?

Is your production facility ISO certified?

Competition

What differentiates you from your competitors?

What is your reputation like among your suppliers and among your buyers? How have you developed your reputation?

How much of your budget do you allocate to research, development and marketing to stay ahead of or stand out in the market?

Will you match a competitor's price?

“Sending out RFPs used to be a nightmare”

Let’s chat about how procurement market intelligence can reduce 
the time you spend issuing RFPs.

Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should give a price range for how much they intend to spend on the award.

Buyers should specify whether the quoted price should include any ancillary services such as delivery or haul away of an old safe.

Selection Criteria

Buyers should prioritize suppliers that can offer the most competitive pricing and terms.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should inform suppliers of the date that the RFP was issued.

Buyers should inform suppliers of the due date for responses.

Buyers should inform suppliers of when the final decision will be announced.

Evaluate major factors to mitigate risk

How risky is the supply chain?

There is a moderate level of supply chain risk for safes. Rising steel prices due to the tariffs during the three years to 2019 have forced some suppliers to either accept price increases or adjust their supply chains to source from an exempt country, if they choose to continue to... Subscribe to learn more.

HIGH

MEDIUM

LOW