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Procurement Market Intelligence Report

Seismic & Geophysical Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Seismic & Geophysical Services?

What is the average price of Seismic & Geophysical Services?

This procurement report includes pricing information to help you purchase Seismic & Geophysical 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 Seismic & Geophysical 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 Seismic & Geophysical 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 Seismic & Geophysical 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 Seismic & Geophysical 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 seismic and geophysical services is moderately concentrated, with the top four players accounting for about 40.0% of total market revenue. ProcurementIQ estimates that there are about 4,735 suppliers of market services. Despite the presence of a few prominent players, the majority of the market is composed of... 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

What qualifications does your staff have, and what measures do you take to keep those qualifications up to date?

What type of relevant research do you conduct?

Which conferences do you attend to stay up to date with the latest developments in this field?

How involved will your tenured and experienced staff members be on my project? What are the experience levels of the employees that will be assigned to my case?

What advantages do your experience and knowledge give you in the marketplace?

Timeliness

What are your primary metrics for internal quality measurements regarding timeliness? Is this data available to clients?

How often do you experience problems with the timeliness of transactions? What is your on-time delivery rate?

How accurate are your time estimates for projects? How many projects are staff members typically working on concurrently?

How long does it normally take to correct errors?

Are you experiencing fluctuations in demand as a result of the coronavirus pandemic? What measures are you taking to handle increased or reduced demand?

Amid the widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Has this caused any delays in your delivery times?

Regulation

By what methods do you stay informed about ongoing regulatory changes?

How have you adjusted to new regulations in the market?

How have additional compliance costs been handled?

Will you take care of all necessary licensing and permits, as well as approvals and certifications from applicable associations?

Do you keep all collected data? What are your typical procedures concerning security rights?

Geographic Coverage

Does your company provide services on a national level or on a local level?

What industries do you primarily serve?

What makes your location more strategic than your competitors'?

Are you capable of supporting global implementation?

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? If so, what are the terms?

What partnerships do you have? How do your clients benefit from these relationships?

Will any work need to be subcontracted out? Will subcontracting add to the project's costs?

Service Performance

How do you ensure the accuracy and quality of your service?

What systems, tools and software do you have in place to minimize errors? How often are these systems checked and updated?

Who normally identifies errors when they occur?

How do you balance quick turnaround times with maintaining maximum possible accuracy?

How often do you find errors after documents have been finalized?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should state the budget they have allocated for the services being rendered.

Buyers should provide a breakdown of the budget and how much is to be allocated to various portions of the requested services, such as the amount allocated towards data gathering and the amount allocated towards any additional services such as processing.

Buyers should provide information regarding how any additional costs will be handled and whether the budget includes any contingency costs.

Selection Criteria

Buyers should look at the past experience of each supplier, particularly experience that is similar to the buyer's project.

Buyers should look at the qualifications of the individual employees that the supplier plans to assign to the buyer's project.

Buyers should consider the methodology used for all services to be provided.

Buyers should consider the proposed cost of the project from each potential supplier.

Project Schedule

Buyers should provide a list of dates that pertain specifically to the RFP process, such as the final date to submit questions and the final date to submit bids.

Buyers should provide a list of key milestones that will exist throughout the project, such as the date services will begin and the date suppliers are expected to complete the services by.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for seismic and geophysical services carries a moderate level of risk. Fuel is a critical input that creates risk in the supply chain; when the price of crude oil spikes, fuel prices trend in line. Despite significant fuel price volatility, service providers are usually able to maintain... Subscribe to learn more.

HIGH

MEDIUM

LOW