How Shapeways Is Helping Small And Midsized Manufacturers Digitize Their Operations Through Its Proprietary Software
Detroit, Michigan
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August 25, 2023 09:15 AM Eastern Daylight Time
By Faith Ashmore, Benzinga
Shapeways Holdings, Inc. (NASDAQ: SHPW), a major player in the field of digital manufacturing, is currently redefining the global manufacturing industry. Shapeways is achieving this shift through enabling on-demand manufacturing and simplifying complex production through its proprietary software system. The company is helping other small and midsized manufacturers do the same, providing access to Shapeways’ proprietary software and supporting them in digitizing their operations, growing revenue, and expanding manufacturing capabilities.
“The manufacturing industry is one of the largest markets that has yet to be digitized. We see large manufacturing companies investing in digital transformation, but the smaller and midsized players have often missed out,” shared Gregory Kress, CEO of Shapeways. “We want to help them achieve the same benefits as those larger companies.”
Realizing a need–and recognizing the opportunity–to reshape manufacturing, Shapeways responded with the launch of OTTO, a proprietary software platform that streamlines ordering, performs file analysis, and accelerates production. OTTO offers advantages beyond optimizing labor efficiency, asset utilization, and inventory costs. This powerful software platform also strengthens relationships between manufacturers and their customers, encouraging growth and paving the way for future opportunities.
Acquiring MFG in 2022, Shapeways further reinforced the connection between their manufacturers and buyers by deploying software features and services to the platform. MFG.com now provides an end-to-end procurement and management system, helping manufacturers increase productivity and revenue. The MFG service benefits business owners, industrial designers, and engineers.
Shapeways recently introduced MFG Materials, a new software offering on the MFG platform. This addition provides manufacturers with access to a wide range of raw materials at an average discount of 15% off list prices. Reflecting Shapeways' commitment to the manufacturing sector, this innovative solution is designed to tap into the large and growing global raw materials market, with aluminum alone valued at $169.8 billion in 2021. This market is projected to reach $277.5 billion by 2030, according to Precedence Research.
Building on user feedback, Shapeways also developed MFG Transactions within the MFG platform. Requested by 92% of MFG buyers, this practical solution allows manufacturers to handle invoices and payments directly. Shapeways introduced the 3D Model Viewer too, a sophisticated tool that simplifies the quoting experience, showcasing all the files a potential buyer uploads with their RFQ (including 2D files). The 3D Model Viewer not only enables interactive highlighting and grouping of intricate details, but also delivers precise measurements and superior visualization techniques.
Leading with world-renowned expertise and advanced software, Shapeways is well-positioned to revolutionize the manufacturing landscape. By extending their innovative, on-demand manufacturing services and software to a broad range of industries, Shapeways allows other companies to tap into their knowledge and insights to remain competitive in an ever-changing modern market.
Read more about what Shapeways is doing in the manufacturing and software industries.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
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