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Procurement Market Intelligence Report

Torque Measuring Equipment
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Torque Measuring Equipment?

What is the average price of Torque Measuring Equipment?

This procurement report includes pricing information to help you purchase Torque Measuring Equipment. 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 Torque Measuring Equipment 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 Torque Measuring Equipment 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 Torque Measuring Equipment?

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 Torque Measuring Equipment 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 torque measuring equipment market is fragmented and highly competitive, with the top four players generating less than 30.0% of total market revenue. ProcurementIQ estimates there are about 2,000 suppliers of torque measuring equipment operating in the United States. Despite the prominence of a few large, diversified manufacturers, the vast... 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 diversified is your supplier base for inputs? When input costs rise, are you able to source the product from a different supplier to obtain lower prices?

Have you faced problems with your supply chain in the past three years? If so, how did you overcome these issues?

Which parts of the supply chain are delivered by third parties? Who are the third parties involved?

What inputs or components are sourced from overseas? Which inputs or components do you import directly, and which are imported by your suppliers?

COVID-19

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Amidst widespread health concerns, 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?

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

Quality

What have you done to improve your device reliability over the past few years?

What quality awards have you won?

What have you done to ensure that you are meeting and exceeding quality standards?

What manufacturing specifications do you follow in the production of your products?

Specifications

Which product would you recommend for my needs and why?

How versatile is this particular model? Can I expect it to perform well for my intended use?

What is the average life span of your types of measuring equipment?

What signal or transmission upgrades or changes can I make to this particular model?

Experience

Are you able to meet the customization needs of your clients?

For wholesalers: what manufacturer or brand do you have the most experience working with? How do you benefit from the partnership?

What is the benefit of working with you compared to another supplier?

What products do you sell besides torque measuring equipment?

Can you give me examples of previous customers you have helped in the past? Did they return for your services?

Additional Services

What is the typical turnaround time for your consultation services?

What additional services can you provide? How will these change the price?

What is your return policy if the equipment does not meet my expectations?

Are there any additional costs to extend the product warranty?

Location & Shipping

How common is it that the equipment becomes damaged during shipping?

Based on my location, what problems do you foresee with shipping the equipment?

Will my entire order of torque measuring equipment and related goods be shipped together, or will you ship the products separately based on their availability?

What products will typically take longer to ship?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should provide details regarding the budget for the purchase.

Buyers should request information about shipping costs and terms.

Buyers can consult the Benchmark Price section of this report to determine how much they should pay for torque measuring equipment.

Selection Criteria

Buyers should look at the experience of the supplier and the past performance of their products with other clients.

Buyers should assess the level of customization a vendor is able to provide.

Buyers should consider how closely the products from each supplier meets their specifications and needs.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers must state the deadline for bid proposal submission.

Buyers should indicate when award information will be communicated to prospective suppliers.

Buyers should include any other benchmark dates that vendors need to be aware of.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for torque measuring equipment carries a moderate level of risk, thereby presenting mixed implications for buyer power. The moderate level of supply chain risk is primarily associated with the availability and prices of key production inputs, such as semiconductors and electronic components, fabricated metal products, plastic rods,... Subscribe to learn more.

HIGH

MEDIUM

LOW