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Procurement Market Intelligence Report

Shrink Wrap Machines
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Shrink Wrap Machines?

What is the average price of Shrink Wrap Machines?

This procurement report includes pricing information to help you purchase Shrink Wrap Machines. 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 Shrink Wrap Machines 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 Shrink Wrap Machines 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 Shrink Wrap Machines?

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 Shrink Wrap Machines 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 ?

There is a low level of market share concentration in the shrink wrap machines market, with the top four vendors accounting for less than 30.0% of total market revenue. Market share concentration has been steady in the three years to 2021. Basic shrink wrap machines are the most popular and... 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?

Quality Control

Describe your quality control procedures. How do these procedures limit quality risks?

How often do you check for quality? Is the frequency based on a length of time or the number of shrink wrap machines you produce or distribute?

How often do you check for systemic quality control issues?

What sort of training do your employees receive? How often is this training refreshed?

Market Experience

How long have you manufactured or distributed shrink wrap machines

What experience do you have working with buyers that have operations similar to mine?

What kind(s) of shrink wrap machine do you typically sell?

What is your experience with more automated machines?

Distribution Capabilities

How do your transportation procedures maximize efficiency? How do they limit risk? Have your transportation procedures changed since the coronavirus?

How many manufacturing and warehousing locations do you have? Have any of them been affected by the COVID-19 pandemic?

Which facilities will be supplying my business? What advantages does this offer my business?

How often do you review your transportation procedures?

Financial Stability

How have you diversified your operations?

What methods do you employ to differentiate yourself from your competitors?

What businesses make up your customer base?

How will you adjust to changes in steel prices in the next three years?

How is your company faring financially, given the economic instability caused by the COVID-19-induced recession?

Customer Service

What are the different ways I can contact customer service? Which method has the fastest response time?

What is the best method to contact you for product issues? How quickly can I expect a new product?

How often do you review systemic customer service issues?

How often do you update customer service procedures?

Product Quality

What features do your products have to maximize packaging efficiency?

How many errors do your machines typically make over the course of a month? What about over the course of a year?

Do your products work with all types of shrink film? If so, do the machines work better with a certain type of shrink film? Which type

What advantages do your products have over the products of your competitors?

What warranty do you offer with your products? Can the warranty be extended? How much would the extension cost?

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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 how much they should pay for each shrink wrap machine.

Selection Criteria

Buyers should evaluate the experience of the supplier.

Buyers should make sure the provider offers appropriate types of shrink wrap machines with the appropriate levels of technological sophistication.

Buyers should evaluate suppliers based on the estimated costs of the shrink wrap machines they offer.

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 when proposals are due and when award information will be available.

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

Evaluate major factors to mitigate risk

How risky is the supply chain?

Overall, there is a moderate level of supply chain risk in the shrink wrap machines market. Risk stems from iron and steel manufacturers. The price of steel is typically highly reactive to global shifts in supply or demand, which makes it more difficult for shrink wrap machine suppliers to project... Subscribe to learn more.

HIGH

MEDIUM

LOW