How to Calculate ROI for in-House 3D Printing
28/04/2021
If you’re looking to increase your Return On Investment (ROI) within your company 3D printing might be your cost-cutting solution. But does it make sense for your business?
In-house 3D printing uses modern technology that provides businesses with a myriad of applications producing versatile solutions to traditional industry methods. 3D printing can cut down production costs in a factory, introduce innovative advances in medicine, fashion and design and ultimately reduce a number of external costs previously incurred by third party efforts.
3D printing has become the go-to solution for such a versatile industry pool, but its perks are usually sought out through third party intermediaries. Introducing 3D printing as an in-house tool will further prove the technology’s use as an asset to a company’s bottom line.
What are the pros and cons of outsourcing and in-house 3D printing?
When deciphering whether 3D printing is a viable solution for your company, the answer lies in how often your employees make use of the technology. If your company does not rely on 3D printing heavily in the day-to-day running of your company, then outsourcing would probably be the most cost-effective solution.
Outsourcing also carries additional benefits such as value-added services that would otherwise require professional staff; such services can include design and advanced finishing steps. But if your company is fully equipped with a creative team and tirelessly settles 3D printing costs on a monthly basis, then converting to in-house solutions may soften the impact on your ROI.
There are quite a few pros to in-house 3D printing, here are a few of them:
In-House 3D Printing
Pros:
- Instant access to the super-speed technology
- Possibility to restock within minutes
- Better yearly ROI
Cons:
- Initial Cost
Outsourced 3D Printing
Pros:
- No running maintenance costs
Cons:
- Monthly cost of third party printing
- Waiting time after order is placed
- Delivery cost or pick-up time
- Possibility for third party error
- Increased risk of low stock
3D printing leads as the most effective and efficient form of product design because of its fast communication between files and printer and the swift delivery of a multitude of products. A supposed con in in-house 3D printing is the initial cost - but that price is quickly made back with the non-existent outsourced invoices that you previously had to settle monthly.
How can you identify the ROI? Calculate cost per part
The go-ahead for introducing in-house 3D printing to your company relies greatly on cost, and the best way to identify your ROI is to calculate your cost per part. The equation is simple, in order to calculate how much a particular part costs, you will need to calculate the cost of the machinery + the cost of material + the cost of labour. This will determine the cost per part.
Comparing this cost per part to the cost of outsourcing will determine whether 3D printing will benefit your ROI.
Benefits of in-house 3D printing
Apart from monetary benefits, investing in 3D printing also includes additional perks:
- Time Savings: in-house 3D printing gives you the opportunity to take ideas to the product stage much faster, resulting in more potential per quarter.
- Improved Results: in-house 3D printing gives you real-time results, allowing you to track back on points of error and create flawless designs with better end-results.
- Efficiency Improvements: in-house 3D printing allows all parties involved on a project to be on-site during the development and deployment stage, allowing for better communication throughout the cycle.
- Security Protection: in-house 3D printing keeps company secrets in the company, with less chances for competitors to claim your ideas and get hold of your profits.
Understanding all the perks of 3D printing does not stop here, get in touch with the expert 3D printing providers, 3DE for more information about 3D printers. Discover more about this innovative technology to improve your ROI with 3D printing.