Additive Manufacturing: Adopt New Business Methods

Many businesses are facing challenges that are impacting their business growth. Competition in their field is getting stronger. This is impacting their bottom line.

If your organization is facing a similar challenge, now might be the time to change things by adopting new technologies. If businesses are going to survive in the modern age, they must keep pace with current technology. Implementing a strategy that includes re-analyzing and redesigning core business processes can lead to notable improvements in quality and productivity.

How Your Business Can Benefit from Process Re-Engineering

Process re-engineering is a comprehensive move designed to help an organization rethink its use of technology and adopt novel ways of business based on current technology.

Market needs and the appeal of new technology put pressure on businesses to adopt new technologies. Unfortunately, small to medium-sized businesses are slow to make the shift. This is because managers are often resistant to change. They feel uncertain about the changes new technology brings.

However, when businesses adopt new technologies, they see major strategic improvements. Adopting new technologies is at the heart of taking advantage of new opportunities. It is a key part of a long-term planning system.

A simple example of this is seen when looking at the way businesses have fared in light of the COVID-19 pandemic. All industries were impacted in one way or another. For some businesses, losing foot traffic meant they closed their doors forever. However, businesses in a similar field that had already adopted newer technologies, such as cloud computing, could adapt to change and take advantage of the flexibility new technologies offered.

There were some small and medium-sized businesses that already had an online presence through social media, their website, or an e-commerce store. When the pandemic hit, they needed to shift their energy toward the online aspect of their business in order to continue to garner revenue.

Companies that were already taking advantage of cloud technologies found it easier to shift their employees to work from home. They did not have the same issues when developing cybersecurity and communication infrastructures as other organizations did.

Successfully Implementing New Technology Does Not Happen Accidentally

Successfully implementing new technologies is not something that happens by accident. The key to taking advantage of new technologies is to effectively plan their integration. Unfortunately, many small businesses poorly plan the introduction of new technologies. Or they do not plan them at all. The fault often lies on managers who are more concerned with acting than they are with planning.

In many organizations, adapting to new technology is something that is done on an entrepreneurial level as opposed to a managerial level. Organizations that make decisions about adopting new technology from the top down find it easier to integrate new technologies as managers are eager to want to please company leaders, so they take the initiative in implementing new technologies offered.

Practical Examples Showing the Benefit of Adopting New Business Methods

A practical example that shows the benefit of adopting technology and the new business methods it brings is the use of additive manufacturing. 3D printers have changed how products are being manufactured. They are allowing businesses to produce products tailored to meet the needs of their customers without being concerned about whether there is a large market for said product.

The benefit of adopting this new form of manufacturing is seen when you look at the medical field. 3D printing is a boon for the medical industry. By leveling this new technology, the medical industry can create custom implants for orthopedic applications and dental applications.

Now, a doctor or dentist does not need to worry about the cost of creating a custom orthopedic device. The economies of scale concept, which dominated medical device creation, disappears. This allows doctors to propose custom implants and prosthetics that are right for the patient.

This new form of manufacturing has made it possible for manufacturers to create delicate designs, including joint designs, that work with human bones. This leads to a strong connection between the bone and the implant.

Implementing new strategies, methods, and technologies requires planning. However, failing to make these changes puts an organization at risk of getting left behind. They could soon find themselves so far behind that they can no longer compete with other organizations in the same field.                

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