Learn about actual and potential costs
How much should I pay for Truck Wheels?
What is the average price of Truck Wheels?
This procurement report includes pricing information to help you purchase Truck Wheels. 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 Truck Wheels 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 Truck Wheels 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 Truck Wheels?
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 Truck Wheels 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 ?
Concentration among the 504 suppliers in this market is high. Concentration has remained steady during the past three years due to a combination of consolidation activity by top manufacturers and new entrants at the wholesale and retail levels. The top player is Alcoa, which alone accounts for more than 50.0%... 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?
How do you compete with foreign suppliers?
How have fluctuations in foreign and US exchange rates affected your business in the United States?
Do you export a significant portion of your wheels? How does this affect the risk you face?
Do you operate production facilities outside of the United States? What advantages and challenges does this introduce?
Do you offer a warranty? If so, how long does it last and what are the terms?
Does the manufacturer offer a warranty or do you provide the coverage?
Can I purchase additional coverage? If so, how much does it cost?
How often are warranty claims fulfilled? Does filing a warranty claim require extensive paperwork?
Supply Chain Risk
How do you deal with volatile inputs like steel and aluminum?
Who are your raw materials suppliers and what is your relationship with them like? How many years have you been using your current suppliers?
Where are your raw materials produced? Does this location provide a cost advantage or increased reliability?
When was the last time you reviewed your supply costs? When was the last time you entered into a contract with your suppliers?
What systems are in place to ensure accurate order fulfillment? Do you use electronic tracking to ensure that orders get processed accurately?
What do you do in the event that an order is mishandled? How quickly can you remedy the situation?
How consolidated is your internal ordering department? How many people and steps are involved from receiving the order to shipping?
How have you improved overall accuracy in the past three years?
What shipping supplier do you use and have you had any issues with them in the past?
How much inventory do you currently have? How long will this inventory last if there is a supply interruption?
What systems do you have in place to guarantee on-time delivery?
Do you have an alternative or expedited shipping method in place as a backup?
Do you comply with Society of Automotive Engineers (SAE) guidelines on wheel performance requirements?
Do you have your wheels tested by the SAE or a certified testing facility? If so, what are the results?
What quality control processes do you have in place? Do you employ quality control equipment or technicians?
How do you keep your production techniques up-to-date? When was the last time you invested in new production equipment?
Where are your facilities located, and why did you choose this location?
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Key elements for every RFP
What should my RFP include?
Buyers should state their total budget.
If buyers require an ongoing supply contract, buyers should provide their monthly and annual budget.
Buyers should provide a breakdown of their budget by item, listing individual budgets for specific products being requested.
Buyers should state whether their budget includes additional costs such as shipping costs.
Buyers should assess the immediate availability of the wheels being requested.
Buyers should consider reviews from current or previous clients.
The price of the wheels being requested should be considered.
Buyers should assess the level of quality from each supplier. Buyers can consult the Quality Control section of this report for further information.
Buyers should provide a list of key dates that pertain to the RFP process, such as the final dates to ask questions and submit bids.
Buyers should provide a list of key milestones that will occur throughout the contract period, such as the date of the first shipment.
If an ongoing supply contract is being provided, buyers should state the frequency of shipments.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk in the truck wheel market is high. Truck wheels are made primarily from aluminum or steel; because these metals make up such a large portion of a typical supplier's total budget, any price fluctuations for steel and aluminum have drastic effects on wheel production, availability and pricing.... Subscribe to learn more.