3D Systems Streamlines Production, Fosters Continuous Innovation by Insourcing Manufacturing of Additional Printer Platforms
ROCK HILL, S.C., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Today, 3D Systems (NYSE:DDD) announced the completion of its strategic initiative to insource the manufacturing of two more strategic printer platforms. The company transferred this activity from two electronics manufacturing services (EMS) partners, with which 3D Systems maintains commercial relationships to expand the adoption of these platforms globally. As a result of insourcing, the company now controls the entire manufacturing process from design to production, leveraging its deep technical and application expertise to deliver products of superior quality and innovation to its customers. Additionally, with this increased level of manufacturing process control, 3D Systems has matched or improved production quality and reduced lead times to meet customer demand. This includes the ability to be nimble and adapt solutions to meet customers’ unique needs with unmatched additive manufacturing capabilities and printing process customization options.
“Our customers want reliable, high-quality products that meet their evolving needs for use in factory production environments,” said Dr. Joe Zuiker, 3D Systems’ executive vice president, engineering & operations. “In-house manufacturing not only enables us to streamline production and reduce lead times, but it also allows us to offer competitive pricing through more efficient operations. This means our customers can receive greater value from our production printers, faster than ever before. We elevate our commitment to customer satisfaction by also providing printing process solutions tailored to our customers' unique requirements and exceptional customer support. Our continuous improvement is helping our customers accelerate their adoption of additive manufacturing and thereby attain a competitive advantage in their market.”
Dr. Jeffrey Graves, president & CEO, 3D Systems, stated, “We’re pleased to achieve this mjor milestone which is catalyzing our ability to deliver enhanced quality, and pioneering innovation for our customers. We began our insourcing initiative last year by consolidating the production of multiple polymer 3D printing platforms into our Rock Hill, South Carolina facility. Since that time we have experienced dramatic improvements in both cost and quality, as well as the ability to accelerate the introduction of new products to meet the market’s continuously evolving needs. Since undertaking this initiative last year, lead times have shortened each quarter, and we believe that this activity, in conjunction with other actions puts us on the path to reduce overall inventory by over 20% in 2024. The decision to insource is helping us to better utilize our assets and internal resources, not only driving operational improvements but also cost reductions that align with our financial commitments to shareholders.”
Insourced production of these two printer platforms began in August 2023 and as of today, production units are available to be placed at customer sites. For more information about 3D Systems’ 3D printing solutions, please visit the company’s website.
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