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ProcurementIQ’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. ProcurementIQ’s Field-Erected Tanks procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

Field-Erected Tanks - Recent Price Trend

During the three years to 2018, the price of field-erected tanks has been increasing at an estimated annualized rate of 1.6%. Prices have gradually trended upward due to demand growth; however, prices have been constrained in their growth due to market competition. Moreover, despite rising prices, low price volatility for field-erected tanks has benefited buyers because they have been able to.

Field-Erected Tanks - Total Cost of Ownership

Compared to the bid price, the total cost of ownership for field-erected tanks is low. Because contractors typically offer proposals that encompass all the costs associated with building a storage tank, there are few hidden costs related to procuring field-erected tanks. However, in addition to the actual cost of erecting a ground tank, buyers must pay separately for a geotechnical consultation,.

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About this Report

This report is intended to assist buyers of field-erected tanks. Tanks are erected in the field when installation must be expedited, the site where they must be installed is congested or the tanks are too large to be cost-effectively assembled off-site. Field-erected tanks are generally built from preformed steel plates to hold liquids, such as petroleum, chemicals and hazardous wastes. This report excludes underground tanks, elevated tanks, tanks that are fabricated in-shop and tanks less than 63,000 gallons in capacity.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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