Low volume manufacturing, also known as short-run manufacturing, is a great way to get your product to market without breaking the bank. If you have a great idea or a product that has not been available before, this is the process for you. Based on the techniques used, the manufacturing processes, the mold tooling, and the materials used, low-volume manufacturing usually involves making between 10 and 10,000 items.
Fast “mass commercialization” comes with many risks and costs that aren’t necessary. The anticipated amount of time needed to get a product to market has been becoming shorter and shorter due to technological advancements and the appearance of rapid prototyping services, and you can easily employ CNC machining, 3D printing, and other metal fabrication services for your project.
Low-volume manufacturing is cost- and quality-effective. It enhances the design process, minimizes risk, speeds up product development, and decreases production costs. Everyone involved in the product life-cycle gets the benefit. This involves product development, manufacturing, and delivery.
Here are some of the benefits of low volume manufacturing.
1. Saving money
In order to save money on manufacturing costs, companies are looking for ways to reduce their production costs and improve their productivity. This means that they will need to invest in more efficient machinery and machines. The manufacturing sector is growing substantially. The main reasons for this success are the economic advantage it gives companies and employees and their high productivity (3 times higher than that of a high volume manufacturer). Low volume manufacturing offers above 50% return on investment (ROI) compared to other industries. This allows companies to save significant amounts of money on R&D expenses and maintenance.
2. Quick production and less time to market
Low-volume manufacturing is a fast-growing industry. The introduction of new technologies such as 3D printing, robotics, and artificial intelligence (AI) has made it possible for manufacturers to produce products with greater speed and efficiency. Low volume manufacturing increase efficiency. Low-volume manufacturing is a fast-growing industry. It offers a quicker time to market the product and also allows for more customization.
3. Taking inventory risks out of the picture
Low volume manufacturing is a great option for businesses that don’t want to hold large inventories of products. By having a smaller inventory, businesses can avoid the cost and risk associated with holding too much stock. Additionally, low-volume manufacturing reduces the chance of products becoming outdated or obsolete before they’re sold.
This is especially beneficial for businesses in rapidly changing industries, where new products are constantly being released. Small businesses often have a hard time competing with larger businesses due to their limited resources. Low volume manufacturing can level the playing field by giving small businesses the ability to produce products quickly and efficiently without holding large inventories or investing in expensive equipment.
Additionally, low-volume manufacturing can be used to produce custom or personalized products, which can be a great way to differentiate your business from competitors. Finally, because low-volume manufacturing reduces the chance of products becoming outdated before they’re sold, it’s an ideal option for businesses in rapidly changing industries.
4. More design flexibility
Low-volume production, 3D printing, and quick prototyping provide design freedom bulk manufacturing can’t. Since items are made in lesser numbers, design changes don’t affect the entire order. This provides firms peace of mind and the flexibility to refine the product before release. Also, consumer input helps enhance goods. A product can be made in low numbers with various feature variants. Multiple product variants can be purchased for practical product testing. Companies can examine popular aspects and tweak products to match client demand for future batches.
5. Provides an option for bridge production
There are many reasons why a company might choose low-volume manufacturing over traditional mass-production methods. In some cases, it may be necessary to produce a limited number of parts or products to meet customer demand or fill an order. Additionally, low-volume manufacturing can provide a way to test out new designs or prototypes without having to commit to large-scale production.
This can be helpful for companies who are still in the research and development phase of their product life cycle. Bridge production or bridge tooling can also be employed even if a manufacturer wants to expand into mass amounts. In order to get items to market faster and to create concepts that they otherwise couldn’t do to the significant upfront costs and time of mass-production, many businesses choose low-volume manufacturing.
Low-volume manufacturing is linked to high-concept, high-technology industries, organizations that want to develop a market for a unique product before mass production, and companies with easily adaptable items. Besides, the appearance of low volume manufacturing makes the customization production easier. Nobody wants to spend money and get nothing, low-volume manufacturing doesn’t require minimum order quantity (MOQ) and you can use small money to make customized parts to test the market.