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Procurement Market Intelligence Report

Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Sprockets?

What is the average price of Sprockets?

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

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 Sprockets 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 top four vendors (Emerson Electric Co., Gates Corporation, ABB Ltd. and Rexnord Corporation) in the sprockets market generate about 20.0% of total market revenue, indicating low market share concentration. According to estimates, there are 1,350 vendors in the market as of 2019. The majority of large vendors provide a... 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?


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?


What is the benefit of working with you compared to another supplier? What industry do you have the most experience working with?

What is the average life span of your sprocket?

Have you served businesses of my size and specialty?

How do you assist with product design and implementation?

What manufacturing capabilities do you have to produce customized sprockets?


If I am located in a different region, do you anticipate any difficulties in delivering sprockets?

What is the typical on-time delivery rate?

What is your average lead time for one-time purchases, high-volume purchases and supply agreements?

What is your delivery schedule and can buyers develop customized delivery schedules?

What shipping supplier do you primarily use? Do you have alternate preferred suppliers?

Supply Chain Management

Where do you source your inputs from?

Have you ever experienced any supply chain disruptions or shortages in the past? How have you handled these shortages?

How do your manufacturing costs compare to your competitors?

When was the last time you invested in new production equipment?

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?


How has your company dealt with the rising competition from imports?

How are your sprockets better than your competitors'?

How long have you provided sprockets to your longest client?

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

Which wholesalers and retailers also supply your sprockets?

How do you stay competitive in the market?

Quality Control

How do you ensure your sprockets' quality? What performance-monitoring systems are in place at your company?

What is your acceptable margin of error for sprockets I am seeking to purchase?

What service monitoring reports are available? Are performance and reliability statistics available to clients?

How many employees do you have in production roles and how many in quality control roles?

What is the quality control training process like? How experienced is your inspection personnel?


Has import penetration adversely affected your operations? If so, how?

What incentive would I have in choosing your sprockets over an imported product? What sets your sprockets apart from your foreign competitors?

Do you import your raw materials or source them from domestic suppliers?

As a supplier located outside the United States, how has the value of the US dollar affected your prices?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should include all relevant information for vendors to create a cost proposal.

Buyers should provide information about when payment will occur. For example, buyers should say whether payment is awarded upon finalization of the contract or over a period of time.

Buyers can refer to the Benchmark Price and Total Cost of Ownership sections for help creating a budget.

Selection Criteria

Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be reputation, credentials of staff, customer service and product certification.

Buyers should choose a supplier based on the price estimate given.

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

Project Schedule

Buyers should include a deadline for proposal submittals and when the contract will be awarded.

Buyers should include a time frame for the delivery to occur and dates for suppliers to survey the work area.

Buyers should include any other benchmark dates that are relevant to the project.

Evaluate major factors to mitigate risk

How risky is the supply chain?

In 2019, average supply chain risk is moderate. Because purchases account for such a large share of the average sprocket vendor's cost structure, upstream suppliers account for a significant portion of risk in the supply chain. Steel is the primary purchase cost for the average sprocket vendor, making it the... Subscribe to learn more.