This month, Jesse Daily takes about stretching your R&D dollars by implementing cost-saving measures such as Rapid Prototypes to validate design, reduce errors in the production phase, and more…
It takes less than 24 hours for any engineer or inventor who dreams of creating the next innovative product to see, touch, and feel their idea in hand. Did we say that it costs only a fraction of what conventional prototyping methods or production tooling cost? What does this mean for the future of R&D and New Product Development?
The average proportion spent of R&D is about 3.5% of the total revenue created. However, this average doubles to 7% of the total revenue when talking about innovative and high tech companies. The actual fair market value of R&D for these high tech companies can exceed 1 billion dollars, whereas the R&D costs for the medical industry can well exceed the 2 billion dollar mark. These R&D costs can be reduced for any size manufacturing company across multiple industries by utilizing 3D Printing or Rapid prototyping.
• Multiple Concept Development – Utilizing 3D Printing Technology, like what CORE Consulting offers in-house, can assist companies in the development of numerous product design concepts at a low cost by supporting design teams in the exploration of truly innovative ideas.
• Accurate Specifications – Today’s 3D Printing Technology allows designers and engineers to examine the product’s form, fit, tolerances, and function to ensure the precise design specifications during the R&D phase.
• Early Identification of Errors – The precision of 3D Printing Technology allows the R&D team to identify design errors prematurely in the design and product development phase which can save precious financial resources.
• Improve R&D to Market Time – 3D Printing Technology can drastically impact the actual manufacturing cost by the reduction of design errors, the increased accuracy of specification, and the increased overall efficiency in time it takes to get multiple products to market which is essential when launching new products to get the highest market share.
CORE is currently working with many clients in the medical industry who have various ideas that could be crucial in the exploration of cutting-edge surgical products and surgical procedures that reduce pain, time spent under the knife, and enhance the overall patient experience:
Veterinarian – One of CORE’s clients requested a rapid prototype of a portion of a dog’s head with clear visibility of the ear canal for a veterinary surgical application. The dog’s head was initially scanned by an MRI machine and sent as NURB (Non-Uniform Rational B-Spline) based file. The file was then converted by CORE engineering consultants to a solid model using SolidWorks, which took less than 4 hours. Within a very small time frame (24 hours of the file being converted to a solid model), the final product was printed and shipped to the client.
Dental – Another CORE customer wanted to print a dental impression for a patient with a common affliction. The process of replacing a tooth with a dental implant is currently one of the most expensive ways to replace a missing tooth for the long term. Dentists are looking into faster and more economical ways to print patterns for making replacement teeth, dental implants, and crowns. Similar to the dog head and ear canal, CORE received the NURB file of a complete set of a patient’s teeth and gums. In this scenario, CORE had to then not just transfer the file to create a solid model, but also had to remove the two damaged front teeth using a 3D Cad Software. The final 3D Printed model that CORE provided had the entire inside of the mouth with two removable front teeth and was printed within 24 hours of the file conversion. 3D Printing can reduce time wasted, reduce costs, and ensure the accuracy/aesthetics of custom fit dental implants.
For more information about how you can bring your idea to life or reduce the cost of your current processes, email us at email@example.com or call 262-242-2673.
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