Research has shown that the most successful small- to medium-sized businesses (SMBs) outperform their competition with four key traits. These companies are the ones to watch and learn from. Typically, they’re the market leaders who are decreasing time to market, creating more innovative products and winning the race to improve the bottom line. Analyst firm, Aberdeen Research, wanted to understand what know more so they looked into the top 20% of SMBs and here is what they found.
They use 3D design tools
It sounds pretty obvious but even in today’s technological-driven environment, there are companies out there who still rely on and use 2D design for creating and manufacturing products. While 2D might feel like enough, these companies are failing to access the benefits of things like virtual prototypes, detailed parametric modelling and high-quality 3D imagery, which can make a real difference in today’s competitive market. There are several clear benefits for manufacturers who use 3D design tools:
- They can leverage previous projects by imitating existing features into new designs
- They can embed drawing details into 3D models
- They can synchronise design data as team members work in multiple parts in an assembly
Aberdeen research found that businesses who employ 3D design software are 50% more likely to reach their targets than their competitors. In fact, they’re typically more successful in generating revenue, reducing cost, meeting launch dates and ensuring product quality. Watch this video to discover the benefits from integrating 3D CAD with 3D printing:
They work with simulation
Simulation technology offers engineers insights on product behaviour, without the expense of physical prototyping. By simulating how models behave, they can quickly and accurately make decisions and optimise the product design in the early stages of development. It means they get the designs right early in the product development process, optimising for cost and quality.
Aberdeen found that the most successful SMBs are a staggering 55% more likely to use simulation tools that look at product behaviour at a system level and 42% more likely to evaluate multiple physical forces simultaneously, than less successful companies
They utilise the power of PDM
The demand to create high-quality products at speed isn’t going away. Aberdeen found that the top 20% of SMBs are 35% more likely to meet product development targets simply because they use PDM tools to centralise product data and better manage workflows. More specifically, they use PDM to manage BOMs and reuse design elements in subsequent products – this is a key process that can make a significant difference to a company’s performance. Keeping a system of record for BOMs impacts stakeholders well beyond the development team – manufacturing, operations and customer service to name a few. Additionally, reusing designs saves time and costs compared to designing a new part from scratch. Clearly a win-win situation for companies utilising PDM.
They learn from and embrace change
Coping with change is a known challenge for SMBs. But it’s the companies who know that changes happen and learn from it that are the most successful. For instance, technologies like PTC Creo Flexible Modelling Extension help design teams directly change parametric feature-based models for late-stage changes in the design process. This means that if the customer requirements change at the last minute, they can react quickly to update the product design. Plus, the companies that adopt such technologies are found to be 70-81% more likely to formally review and approve changes and audit them into their change management processes.
