New Digital Source platform solves supply chain
challenges with digital inventory printed through Markforged's
global 3D printer network
Markforged Holding Corporation (NYSE: MKFG), the company
strengthening manufacturing resiliency by enabling industrial
production at the point of need, today announces Digital Source, an
on-demand parts platform built to enable the licensing and
3D-printing of manufacturer-certified parts when and where they are
needed, without the cost or hassle of physical inventory
management.
Digital Source allows vendors to upload digital part designs
which can be securely licensed to customers, distributors, and
contract manufacturers. Once uploaded, Digital Source end-users
will have the ability to license the right to print parts onsite or
through a growing network of approved print service providers.
“Digital Source gives us the agility to print spare parts where
they are needed, so we can get machinery back up and running much
faster and minimize our downtime,” explains Jeremy Haight,
Principal Engineer at Vestas Wind Systems A/S, a global leader in
sustainable energy solutions. “Time equals a very high dollar value
for us — a line down in one of our factories is a big deal, but a
turbine that has gone down can cost even more. If we can access and
print the part we need, we can get that line or turbine back up and
operational much quicker.”
“Digital Source unlocks a new way of managing supply chains.
Every day a manufacturing line is down due to broken or worn parts
can cost millions of dollars in lost productivity. Availability of
spare parts is critical to manufacturers’ success — but keeping an
extensive physical inventory ties up capital in parts that may go
untouched for years,” says Shai Terem, CEO of Markforged. “Digital
Source not only can simplify logistics, but can also build
resiliency into the supply chain and increase profitability as a
result of these efficiencies. With Digital Source, parts can be
digitized and printed at the time and point of need without the
need to be manufactured in advance, shipped and stored until
needed.”
Digital Source is designed to offer consistent, reliable,
turnkey production for 3D-printed parts. Markforged is delivering
the promise of digital warehousing by integrating 3D printing
software, materials, and hardware with end-to-end process control.
Vendors can specify and lock printing process requirements so that
customers get manufacturer-certified parts on demand. Robust
security safeguards digital part files, and encrypted print
instructions are sent directly to printers to protect designs,
allowing customers to just “Press Print.”
BMF GmbH, a vendor on Digital Source, is a highly-specialized
manufacturer of complex sand blasting machines with over 200
installations worldwide, each featuring 60 printed components.
These components are typically replaced every three to four months
when the machines are running at full capacity.
“We needed a significant amount of storage capacity to be able
to stock all the spare parts, and often, the extended delivery time
is linked to the customer’s ordering process, as the administrative
procedures frequently take too long, when BMF ships the spare parts
on the same day,” explains Ronny Bernstein, CEO of BMF GmbH. “Via
Digital Source, the component can be printed on-site the moment a
failure or wear is detected.”
Both vendors and customers of Digital Source can benefit from
reduced inventory costs and simpler replacement part operations and
availability, which can increase productivity, profitability, and
customer satisfaction. Customers and service centers can print
design revisions directly from Digital Source — removing the waste
from the disposal of outdated parts and the risk of installing the
wrong part version.
“Above all is uptime for our customers. The machine must run and
the customer must be able to continue producing. Now the majority
of advanced composite parts are printed directly at the customer
location, which not only brings down the time it takes to receive
the part, but also brings shipping costs and CO2 emissions down,
which is on all companies’ minds more than ever before,” adds
Bernstein.
Project DIAMOnD is the world’s largest emergency response
network for on-demand printing, with small and medium-sized
manufacturers operating 300 Markforged printers. Project DIAMOnD,
an Oakland County, Michigan initiative facilitated by Automation
Alley, is planning to implement Digital Source into the network to
further empower the adoption of additive manufacturing on the
factory floor.
“We value Markforged because of its strong emphasis on
protecting the digital recipe of parts and enforcing the standards
of quality for remotely-printed parts,” explains Pavan Muzumdar,
Chief Operating Officer of Automation Alley and CEO of Project
DIAMOnD. “We believe the future of manufacturing is distributed
manufacturing. By connecting our physical world through secure
digital inventories, Digital Source is very strongly aligned with
our vision for the future.”
About Markforged
Markforged (NYSE:MKFG) is enabling more resilient and flexible
supply chains by bringing industrial 3D printing right to the
factory floor. Our additive manufacturing platform The Digital
Forge allows manufacturers to create strong, accurate parts in both
metal and advanced composites. With over 10,000 customers in 70+
countries, we’re bringing on-demand industrial production to the
point of need. We are headquartered in Waltham, Mass where we
design the hardware, software and advanced materials that makes The
Digital Forge reliable and easy to use. To learn more, visit
www.markforged.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are
based on beliefs and assumptions and on information currently
available. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “strategy,” “anticipate,”
“believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “ongoing,” “opportunity” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. These statements involve risks,
uncertainties and other factors that may cause actual results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by these
forward-looking statements. Although Markforged believes that it
has a reasonable basis for each forward-looking statement contained
in this press release, Markforged cautions you that these
statements are based on a combination of facts and factors
currently known by it and its projections of the future, about
which it cannot be certain. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the impact of the newly-announced Digital Source platform on the
manufacturing industry and Markforged, statements related to
product development and innovation, and statements regarding the
potential benefits to consumers of Markforged products including,
but not limited to, the Digital Source platform; our ability to
fulfill orders for our products in a timely fashion in the future;
expected growth of the size of and opportunity to increase our
addressable market; the timing of launches and the rate and extent
of adoption of our products, including, but not limited to, our
most recently introduced products; market trends in the
manufacturing industry; the effects of macroeconomic factors; and
the benefits to consumers, functionality and applications of
Markforged’s products. Markforged cannot assure you that the
forward-looking statements in this press release will prove to be
accurate. These forward looking statements are subject to a number
of risks and uncertainties, including, among others, general
economic, political and business conditions; the ability of
Markforged to maintain its listing on the New York Stock Exchange;
the effect of COVID-19 on Markforged’s business and financial
results; the outcome of any legal proceedings against Markforged;
and those factors discussed under the header “Risk Factors” in
Markforged’s most recent periodic and other filings with the SEC.
Furthermore, if the forward-looking statements prove to be
inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that Markforged will achieve its
objectives and plans in any specified time frame, or at all. The
forward-looking statements in this press release represent
Markforged’s views as of the date of this press release. Markforged
anticipates that subsequent events and developments will cause its
views to change. However, while Markforged may elect to update
these forward-looking statements at some point in the future,
Markforged has no current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing Markforged’s
views as of any date subsequent to the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230918923483/en/
Investors Austin Bohlig, Director of Investor Relations
investors@markforged.com Media Samuel Manning, Principal Public
Relations Manager sam.manning@markforged.com
Markforged (NYSE:MKFG)
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