Manufacturing
and inflation have a more nuanced and intricate relationship than most news
headlines give them credit for. Here, we will examine the connection between
inflation and manufacturing. Also, this blog post will share reasons why 3D
printing is the way out in terms of lowered costs.
What elements in the supply chain influence price growth?
It is
important to consider the underlying reasons for price rises along the supply
chain in order to better comprehend how manufacturing and inflation coexist.
Currently, we are dealing with three major issues:
Supply
chain disruption is a term that is frequently used but not universally
understood. By supply chain disruption, we mean significant occurrences that
make it harder or more expensive for manufacturers to get the supplies they
require throughout the supply chain. A major contributing element to the
pandemic was a shift in:
Consumer Behaviour
With a
swift but significant drop in spending in the wake of COVID-19 we saw shortages
of a variety of goods, such as computer chips, since not everyone in the supply
chain was able to keep up. Additional disruption is being caused by inflation
and conflicts, and some goods made are currently harder to get by.
Labor
costs
Labor
dynamics are already changing when the epidemic occurred, hastening the
process. With fully staffed floors, manufacturers have struggled to maintain
operations at optimum capacity. The ones who have are rightly paying workers
often.
How 3D Printing can Speed Up and Cut Costs Out of the Product Development Process
1- Lower Costs for
Prototyping
The
capacity of 3D printing technology to significantly lower prototyping costs is
perhaps the most significant and stunning benefit in the field of product
development. Many times, it is possible to produce prototypes at a fraction of
the price that would typically be required, enabling even small enterprises
with tight finances to pursue product development.
2- Reduced
Material Expenses
Another
factor supporting 3D printing as a competitive production alternative is the
reduction of raw material costs. In 3D printing, raw materials are added layer
by layer and only where they are actually needed, which significantly lowers
material waste. 3D printing is resource-efficient compared to subtractive
manufacturing techniques, which frequently result in higher material waste,
especially when high-value materials are utilized.
A further
benefit of 3D printing is the ability to minimize the quantity of material
required to create an item; a fantastic example of this is the lightweighting
of metal. Metal lightweighting is the process of utilizing 3D printing to make
metal items lighter. One of the few methods to make lightweight metal
components affordably is through 3D printing and design, which is especially
useful in sectors like aircraft and racing where even one kilogram saved may
result in considerable cost savings.
3- Lowering
Tooling Expenditure
More than
just the cost of the individual component, 3D printing enables you to save
costs throughout the whole production process. Additive manufacturing may let
you completely reimagine your production process and enable supply chain
optimisation. The technique of additive manufacturing, for instance, can
enhance the production of tools and the assembly line.
With 3D
printing, it's possible to directly create tools and even bypass some assembly
steps by printing entire devices, which helps to drive down costs of tooling. Opel, a vehicle
manufacturer, acknowledged a 90% decrease in assembly-related tooling costs.
Another illustration is Jabil's Auburn Hills factory, which is also adopting
additive manufacturing and has seen a 30% decrease in tooling costs, which is very
significant. It depends on your industry and how you employ 3D printing, but it
is unquestionably a way to reduce tooling costs.
4- 3D-Printed
Accessories
It may be
expensive for many companies to have a stock of infrequently used, low demand
spare components. There is absolutely no need to retain an inventory of such
replacement parts with 3D printing. Utilizing technology, manufacturers may
generate replacement parts as needed, cutting down on the amount of components
that need to be kept and lowering the cost of inventory.
OEMs and
spare part suppliers are establishing regional AM facilities to 3D print
replacement parts closer to consumers in response to the rise of dispersed
manufacturing. Delivery becomes quicker and easier as a result, which lowers logistical
costs and lessens supply chain complexity.
