“3D printing is worth my time, attention, money and effort,” claims General Electric’s CEO Jeffrey Immelt, projecting the company will make about 50% of jet engine parts with 3D printers by 2016. Using 3D means less waste, less components (therefore lowering the need for replacement parts) and ultimately, less money strapped into the conventional production process, that some are already starting to call ‘yesterday’s model.’ Indeed, argue James Manyika, Katy George and Louis Rassey from McKinsey & Co. on HBR’s blog, “The global manufacturing sector is on the threshold of a dynamic new phase that will provide renewed opportunity for manufacturing firms—and a host of new challenges.”
According to the trio, there are two main forces that will dominate global manufacturing in the coming decade. The first force is the major shifts in demand: developing economies such as China and India are morphing from the world’s source of low-cost manufacturing capacity to the world's best market opportunities. In addition, customers everywhere are looking for more—including more services—from manufacturers. The second force is the raft of innovations that will alter how products are designed, manufactured and sold—everything from nanotechnologies to, you guessed it, 3D printing. “The net of all these changes, we believe, will be a new kind of manufacturing company.”
“To take advantage of the opportunities available to manufacturers—and to avoid falling behind—companies have to become agile, networked, analytical and data-driven enterprises. Manufacturing leaders will need to manage not only across geographies, but across their own organizational silos and beyond to a virtual ecosystem of suppliers and partners. Many companies will need to build new capabilities. For example, in a world of rising and complex risk, they will need to adopt planning systems that don’t rely on point forecasts, but use scenario planning. Companies will need to develop skills in big data, and to compete in a world where the supply of high-skill talent is tightening, manufacturers will have to become much better at attracting, developing and retaining talent.”