Key insights from the report include the following:
- Companies are moving away from just-in-time (JIT) manufacturing due to concerns about flexibility and resiliency. 48% of custom manufacturing customers tried the JIT model and have since moved away from it, with more than half of those having changed supply chain strategies since the start of the pandemic.
- Communication difficulties with custom manufacturers delay design and development cycles and hold back product innovation. Time-consuming communication is identified as the top pain point during the product development process, as 44% of respondents said they exchange more than 50 messages with their manufacturer during the production process.
- Inconsistent product quality is a major pain point that affects companies’ bottom lines. 65% of respondents said that they have issues with part quality from custom manufacturers at least sometimes, and more than half say inconsistent quality has impacted their bottom line in the past year.
These results demonstrate the need to improve upon existing models for product development, production, and fulfillment. While other industries have used technology to fuel process improvements, the manufacturing industry has been left behind with communication, quality, and transparency problems that make new product development and part production more expensive and time consuming. With a variety of problems stemming from decentralized analog processes, the solution is clear: cloud manufacturing.
“As consumers, we’ve come to expect two-day shipping, updates about every movement our packages make, and instant customer service when something goes wrong. It’s time for the manufacturing industry to catch up,” said
Fast Radius’ Cloud Manufacturing Platform™, an end-to-end digital solution that integrates design, manufacturing, and fulfillment through software, presents an alternative that maintains the speed and efficiency engineers and procurement professionals crave along with the improved reliability, visibility, and flexibility that JIT failed to provide.
Access the full report, The Case for Cloud: Charting the Future of Custom Manufacturing, for a more in-depth look at the findings.
Source: Fast Radius