Prospective of 3D Printing Explained by Product Development Company, California

GID Company - 3D Printing USA

In the last three decades, the use of 3D printing in the arena of new product development has progressed from costly prototyping technology used by an elite few to a flourishing industry, manufacturing both smaller-scale goods and fully functional parts and components for aerospace, automotive, and more.

However, a question arises between the product development companies if this blossoming technology really proves to be the cornerstone of the next industrial revolution.

Considering the prevailing hype around 3D printing, most users were surprised when “3D Systems Corp.,” a renowned manufacturer of 3D printers and other accessories, recently lowered its profit estimates for 2013 and its projection for 2014. The closing sharp-drop in shares led some to predict that the powerful industry could be heading to a dead end.

What is the Future of 3D Printing?

Looking at the current scenario, it seems like the market bubble may have busted, and the lasting potential of this technology has not been changed, especially when it comes to manufacturing of mainstream products. Mainstream and profitable industries such as automotive and aerospace already depend and make use of 3D printing in their production procedures. Rolls Royce and General Electric, for instance, are both planning to develop 3D printed components for their individual jet engines, and automotive king Ford has been using the technology to print test parts for years.

The use of 3D printing is no more limited in manufacturing of automotive, aerospace, and other expensive commodities, but is also utilized by small-scale industries like toys, consumer products, and many others. As per a report released by McKinsey & Co., there are countless benefits of 3D printing over other development technologies, and they are as follows:

  1. Accelerated Product Development Cycles: At the time of new product development, 3D printing allows a product development company to thrust the process of product development. It helps in accelerating the R&D process in a lucrative manner, eventually reducing product-launch risk and time to market. However, it will demand a powerful supply chain that can keep up with accelerated production rate without making any compromise in quality of products.
  1. Allows Framing New Product Development Strategies and Footprints: As the expenses drop and capabilities escalate, 3D printing could be used to manufacture more parts; however, this does not imply that every part is made this way. A strategy should be framed about which parts will extract the maximum advantage from the technology. Product development companies must also look out for the framing of industry standards regarding printing materials, which could influence both price and footprint decisions.
  1. Increasing Sources of Revenue: 3D printing has the tendency to decrease the complication and the expense behind some production types, inspiring companies to set apart their goods in other ways, such as providing personalized designs to a wide customer base. The capability to develop replacement parts could also alter the structure of aftermarket services.
  1. New Capabilities: If product manufacturing companies desire to develop profitable new products, then they must not only perk-up their design knowledge in terms of 3D printing but they must also have product designers and engineers who can overcome the technical encounters of tuning print materials, so they reap the most out of them.

Product development companies that adopted 3D printing in their early stage will be in the best position to extract maximum benefit of the technology, once it really come into its own. If you still have any questions or queries regarding how 3D printing can help you in manufacturing new product for your potential customers, then contact GID, a product design, prototype, and development company in California, USA.

Moreover, you can browse our portfolio to explore our proficiency and professionalism in the field of new product manufacturing. If you had that eureka moment and are planning to develop profitable products out of that for your end-users, then give us call at 714-323-1052. We also offer free, no-obligation quote and consultation.

Need of New Product Development Explained by Product Manufacturing Company, California

New Product Development

Not only yours, but the fierce competition is around every business across the globe, and new product development is the only key to making your business stand strong and firm. It is almost impossible for any business to flourish if it continues to offer the same services or products for years when its competitors are frequently launching something better and more useful. In the age of clever customers, using smart devices (smartphones or tablets), your product has to be smart enough to gain the upper hand in the competition and to attract more customers.

To spread awareness among entrepreneurs across the United States of America and other continents around the world, GID, a product manufacturing company, explains the importance of new product development, and they are as follows:

  1. To meet your customers’ requirements – With time, the needs of your customers change; hence, you need to take adequate steps to fulfill their requirements without hurting their budget. You should immediately respond to this shifting market ecosystem through your products and services, or else your customers will switch to competitors’ product that satisfies their requirements. For instance, big brand like Coca Cola launched the Coca Cola Zero and Diet Coke having low sugar, salt, and fat to attract health-conscious individuals across the globe.
  1. To beat your competitors – As stated above, new product development is the only key to have the upper hand in the competition. With the advancements in the technology, new products are frequently launched, incorporating new features, to generate revenue and to increase brand awareness. Tech-friendly customers also prefer to buy the latest products to illustrate their status and style. If you desire to beat all your competitors at once, figure out what your potential customers are looking for, hire a professional product manufacturing company, and ask them to design and develop something like never before.
  1. Life cycle of your existing product – Every product comes with an end date. The product launched by you today, maybe on the final stage of its life cycle by tomorrow. Hence, considering this fact, you should frequently launch new products that include latest features, stylish looks, and most importantly fit in your end-users budget. Accepting the fact, for instance, Microsoft replaced the Xbox by the Xbox 360, and then replaced Xbox 360 by Xbox One. You should continuously refresh your product offering to meet the expectations of your end-users.
  1. Maturity stage of your product – Surprising, but product maturation is yet another powerful reason that breeds the need of a new product development. Apart from the end date, as the time passes, there are chances that your product may require the touch of technology to compete withother similar products in its segment. For instance, Nintendo has replaced its DSI console with the 3DS console that includes additional features such as an extra camera so that you can film in 3D, a 3D screen that does not require glasses, motion sensors, and a joystick.

According to GID, new product development is must for every business as it helps them to dodge fierce competition and stay ahead of competitors. If you don’t invest your time and money in manufacturing new products for your customers, then someone else will grab the opportunity and your market share too. In case, if you have any questions / queries, or if you need any help or advice in regard to new product development then, please contact GID at 714-323-1052.

To browse their product design and development portfolio, please click here https://www.gidcompany.com/our-portfolio/

How to Keep up with the Altering Ecosystem of New Product Development

New Product Development

The ecosystem of new product development is frequently shifting to newer levels in an effort to meet the requirements and likings of customers. It, hence, brings a massive tasks on the side of product designing and manufacturing companies to cope up with the fluctuating arena of new product development. Here, as the needs of the potential customer changes, the rules for product design and development changes. Hence, the traditional methods that were cost effective, high-quality and showed diversity, now tuned out to be insufficient surviving the fierce competition prevailing in the current market. The product designers and developers at product manufacturing company (GID, California) concluded speed and flexibility as an essential aspect for a lucrative design and manufacturing of new goods.

By speed, the product designers and developers at GID convey that businesses need to manufacture new products on the periodic interval of time. In fact, even global statistics have concluded that it is the fundamental source of income for major companies across the world. With an emphasis on new product manufacturing in the respective industry, entrepreneurs around the globe are forced to search an established and experienced product development company that can help them in the entire design and development process.

To discover, how the arena of new product development has varied with the time, it is essential to do an evaluation of the traditional and latest design and development approaches. The old approach obeys a race relay method of product development in which teams or individuals are allotted definite jobs based on their skills or expertise. Therefore, the entire production system is bifurcated into various fragments that are to be executed on a particular stage in the manufacturing process. The same procedure is obeyed from stage to stage to a given order. Product manufacturing companies may vary in their methodology, but a universal manufacturing process might be something like this: origin of the idea, feasibility tests, product prototyping, pilot production, and the final bulk manufacturing.

The old designing and development method is based on specialization; however, the new approach is now being introduced by a product manufacturing company is based on constant communication. According to the latest manufacturing approach, rather than a dedicated team working on a particular phase in the development procedure, every team is expected to be the part of the new product manufacturing process, from begin to end. It is an open experimentation wherein any team involved in the project can share lucrative feedback at any phase of the product manufacturing.

The second and latest approach is perfect for entrepreneurs who wanted to achieve flexibility in designing and development. Additionally, this method allows companies to launch new goods in a frequent manner. This sudden shift in the industry dares the prevailing status quo through inspiration of ideas. According to professionals, it is a welcomed move as the old approach has created some sorts of stability to the development methods. The new manufacturing approach aids to boost up new ideas even for multinational companies.

As more development follows with this approach, there are a few extraordinary features that product designers and manufacturers are expecting would make a remarkable influence on future new product development. These are as follow – dedicated teams for each project, understanding stimulation, covering different stages of development, and refined control. The final point with this new method is that it stimulates initiative amongst employees at every phase to cope with the different needs of the new product development as you move along, rather than be restricted to a pre-defined system.

Product Manufacturing Company

We are GID, a USA based product design and manufacturing company, with an objective to help different businesses in designing, rapid prototyping, and developing new products from the scratch. In today’s fierce competition, new product development is an important business activity for every business owner, as it keeps the brand alive and active in the market.

For free tips / guidelines for new product development, product design, product prototype development and product marketing, feel free to contact GID at 714-323-1052. For a free consultation, or to discuss the feasibility of your concept (for new product), contact GID, a product development company, at www.GIDCompany.com

7 Tips for Overnight Success in New Product Development by a Product Manufacturing Company

7 Tips for Overnight Success in New Product Development

Curiosity, creativity, and the zeal to bring those impossible ideas to life are the reasons behind the comfortable and relaxed life that we are enjoying today. All the tech-gadgets, household amenities, high-speed transportation means, etc. that have made our life simply simple were just concepts and somebody’s hard work or greed to earn name and fame brought them to life. Anyway, whatever would be the reasons, but we citizens are obliged to all those inventors and Product Manufacturing companies who offered us something beyond our imagination.

New / Custom Product Development is beneficial for both, the manufacturers and end users. However, looking at the fierce business scenario, it is more beneficial for the entrepreneurs because manufacturing a new product offers them a chance to stay ahead of the competition and competitors. No business can continue to offer the same unchanged product for a longer period of time; or else their customers will move to something else with more features at a reasonable price. Here, solely for entrepreneurs, we will discuss some points about how to develop an out-of-the-box product with the help of product manufacturing company to gain and maintain that sustainable cutting edge.

Here are points an entrepreneur need to consider:

1.    Identify new opportunities for your product

Open up your mind, explore your surrounding market, and find out, what’s there for your upcoming product. Think creatively, as it will open new grounds and ideas for your business and, combined with the correct manufacturing processes and equipment will let you calculate how your business can best approach innovation, including when to hire external expertise.

2.    Analyze potential in your new product idea

Access to a high-quality market intelligence, a thorough understanding of the prospective market and evidence, professional knowledge and capability, may all be required to offer proof of the market or the technical potential out there before you move ahead with a major commitment.

3.    Search Tax and Finance Efficient Ways to Support Innovation

Money is the most influential element in the new product development. Factors such as inadequate investment, the potentially lengthy development period before new concepts yield a profit, and insecurity about whether a project will be a success, can be huge hurdles towards securing investment. These factors should always be taken into consideration, along with tax incentives and access to local or national funding, which may be offered to help.

4.    Manage the innovation process

Handling new opportunities and their challenges requires systematic planning and controls. There may arise a situation where you need to develop your processes further or embrace the best practice to enhance your chance of success and strive to harness the potential of clever design.

5.    Protect Your Concept from Competitors

While developing a new product, an entrepreneur needs to consider the importance of Intellectual Property (IP). Entrepreneurs can protect their concept by many ways ranging from patent to trademarks including Non-Disclosure Agreements during early stages of development. This move will safeguard their idea from being copied.

6.    Commercialize Your Ideas and Get into New Markets

If your desire is to extract maximum profit out of your investment in innovation then the only way to do it is by protecting your idea, identifying the targeted market, locating the correct doors to enter the market, and finally, understanding the prevailing market trends.

7.    Over Come Common Problems

Once you initiate the product manufacturing process, commercial or technical problems can often delay or disturb business innovation, and this can be a serious frustration for an entrepreneur. If you face any of these problems, then it is suggested to explore and adopt new solutions or approaches for product development.

New or Custom Product Development is an important business activity for all entrepreneurs, as it keeps a brand alive and active in the market. Moreover, it also helps an entrepreneur to stay ahead of the competition. If you don’t sweat on your idea, then someone else will steal it and enjoy your share of the cake.

If you are an entrepreneur, who is looking for free tips for new product development, product design, product prototype development and product marketing, then call GID, a product manufacturing company based in California, at 714-323-1052 or visit: www.gidcompany.com

Product Development Company in California, Why Develop New Products for Your Business?

Product Development Company in California

Amid the cutthroat competition, every business needs to innovate to stay ahead of competitors. No business can survive for a long time if it continues to offer the same old unchanged products. Innovation and the launch of a new product or service are necessary to gain the upper hand in competition and to increase profits. GID, an established new product development company in California, explains the importance of custom product development for every business.

Here are some reasons, why the lack of new product development can adversely affect the sales and profit margin of a business.

A Business has to Understand the “Needs and Wants” of the Customers

A consumer’s “Needs and Wants” varies continuously. Businesses should respond immediately to these changes through their services and products. Otherwise, consumers will switch to competitors’ products that fulfills their “Wants and Needs” in a better manner. For instance, consumers all around the world are becoming more health conscious, which is forcing companies to launch low sugar, salt and fat products. Coca Cola Zero and Diet Coke are the best examples of new product development, which contains no sugar.

Your Competitors in the Market

Having an upper hand on the competition is the main aim of a new product development. Due to the advancements in the technology, new products are constantly being introduced to a target market that welcomes change and innovation. Nowadays, customers are not scared of trying new products. In fact, they often want the latest product to exemplify their style and status. If your product is successful (hopefully), then competitors will introduce something similar to yours with the aim to share the cake.

According to the tech giant “Google”, they developed Android operating system in order to prevent the technology market, for products such as mobile phones and tablets, begin controlled by a single supplier.

Product Reaches the End of Its Life Cycle

Everything comes with an expiration date. The product launched by you today, maybe on the final stage of its life cycle by tomorrow. Therefore, as a smart entrepreneur, you should introduce new, improved, and updated version. For example, Microsoft has done this by shifting from the Xbox to the Xbox 360 and, now Xbox 360 to Xbox One, continuously refreshing the product to meet the market expectations.

Product is at The Maturity Stage of its Life Cycle

Apart from the expiration date, there are chances that your product may need modification at the maturity stage of its life cycle. After a certain period, it may need modifications and feature additions to stimulate an increase in sales. For example, Nintendo has replaced its DSi console with the 3DS console, which contains additional features, including an extra camera so that you can film in 3D, a 3D screen that does not require glasses, motion sensors and a joystick. The company also launched its Wii U that delivers HD graphics and a highly enhanced experience compared to the company’s previous console, the Wii.

Product May Require Environmental Changes

As a business, we need to capitalize on environmental changes to survive and to earn bread and butter. Here is the best example of environmental changes: Music firms are now selling more music through the internet downloads as compared to that of traditional retail shop. Record companies were pushed into selling through the internet following the success of the website “Napster”. Therefore, it is necessary to sync your business with the latest trends.

Every Product Experiences, Problems

Unfortunately, if your products in the market are facing poor sales, or suffering from a negative reputation then immediately change your product offering. For example, in 2001, the launch of the innovative iPod player reversed the fortune of Apple Computers. Since then, Apple Inc. has successfully introduced the iPhone and the iPad, and raised its share price from $9.07 per share to over $500 per share.

Conclusion

According to GID, a Product Manufacturing Company, new and innovative product development is essential for all businesses. It helps businesses to dodge fierce competition and stay ahead of competitors.

If you do not develop new products for your consumers, then someone else will, stealing all your customers. To survive and for long-term advantages, every business should understand the importance of custom product development.
For any query on product manufacturing, feel free to contact us at https://www.gidcompany.com/contact-us/

Checkout our product EPOCIT.

Factors to Consider Before Custom / New Product Development

Product Development

About Product Development

“Custom Product Development” or generally known as “New Product Development” may sound simple, but it is the multifaceted process of designing, prototyping and manufacturing a new product from the scratch. To be honest, the designing and engineering phases involved in product manufacturing are truly complicated and beyond one’s imagination. It refers to a collective team effort among the major departments within the company, including, R&D, Operation, Marketing, and Finance. Under the hood of custom product development, each and every member of a product development company strives to find the set of innovative solutions to customer problems or customer needs.

Factors to Consider Before Initiating the Product Manufacturing

Generating New Ideas

Companies with a higher rate of success in custom product development make a concerted effort to produce a steady stream of new product ideas. All of these ideas undergo a thorough screening process, and many are discarded just before the potential winners are declared. Some ideas are left untouched because in management’s decision the need or problem they solve is not convincing enough to prompt customers to be highly motivated to make a purchase. The ideas that make it through the final manufacturing phase are those that offer customers something that is much more useful than anything offered in the market now. They offer user-friendly, understandable yet potent solutions. These are the products about which people remark: “I wish I’d thought of that!”

The Test of Marketability

For companies, “What will be the price of the product?” is the key point of concern at the time of introducing the product. For example, if you are a company that deals with consumer products, then it can be quite expensive for you to bring your product to the mass market. Additionally, the average length of the sales process affects your product’s marketability, as well.

Now days, for some technology-based business solutions, a series of meetings and presentations are held prior the purchase decision is made. Therefore, for better marketability, companies should make sure that they have distribution channels in place, or can immediately establish them, to get their products in front of potential buyers. Companies that knowingly or unknowingly ignore this step are often frustrated with how difficult it is to get their products on major retailers’ shelves.

Evaluation of Feasibility

A product idea may be left untouched because its manufacturing duration would be too long or there are plenty of design hurdles that can hamper the overall development period. Delaying the launch of a newly developed product equates to lost revenue opportunities. Moreover, the manufacturing cost of the product should be taken into consideration with respect to the size of the market of the product. Spending $6 million to produce a product that will only return $2 million annually doesn’t make economic sense, as it will take years to recoup the basic investment.

One more feasibility issue is whether the company has the in-house team for product development so the gross margin will be ample enough to ensure profitability. If the manufacturing cost is too high, the price charged to the customers may be too high as well, which makes a product less competitive in the market.

The Decision to Proceed

After a thorough research, lots of meetings and hundreds of presentations, a company devises a product plan that forecasts the bottom-line profit the company is expecting to yield from the new product development. In case, if the prospective profit of the product to be developed is not up to the financial performance standard of other products in the company’s line, the judgment may be made not to proceed with manufacturing it. However, there are some strategic considerations as well. Acquainting a product may allow the company to reach a large new market for other products it produces, boosting revenue company-wide. At the end, custom product development can solidify the brand image of the company.

All of the above listed aspects unite together in the final decision of whether to give the new product development the green light and proceed with introducing it.