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?
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?
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?
“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?
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.
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.
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.