How is 3D printing revolutionising the packaging industry?

StrategyDriven StrategyDriven Editorial Perspective Article |3D Printing|How is 3D printing revolutionising the packaging industry?Packaging and transporting the product is as important as manufacturing it. Since ancient times, people have been wrapping things for different purposes using variegated materials such as leaves, tree barks, cloths, etc. The novelistic invention of a 3D printer has revolutionised many sectors and finds utility in every field. Now, it is being used by packaging companies to their advantage.

What is Additive Manufacturing?

It is nothing but the industrial name of 3D printing. It is a process that helps in materialising a definitively defined digital idea into the physical world. We can understand the process of 3D printing into two steps, such as: –

  • The transferring of coded data to printed structure on the printer.
  • Positioning the printer’s head in three directions in space for printing layer by layer.

There are three main types of 3D printing: –

  • SLA- Stereo Lithography
  • SLS- Selective Laser Sintering
  • FDM- Fused

The third method of 3D printing is used widely in packaging. Thermoplastics are used mainly as raw material in 3D printing on the industrial level. They can be remodelled many times by heating without causing any chemical change. Other plastics such as PLA- Polylactic acid, ABS- Acrylonitrile butadiene styrene and PVA- Polyvinyl alcohol plastic are also used, including powders, photopolymers, ceramics, and metals.

Process of 3D printing

The general process of 3D printing can be divided into four steps: –

  1. CAD model making- A virtual 3D model of the object to be made is designed using a computer-aided design. The designer can use variables that are already defined in the Auto-Cad or use a ready-made design.
  2. STL format conversion- CAD is software that provides various components that can be used to represent solid format. They are saved in different file formats. In the prototyping business, the STL stereolithography technique is adopted to avoid any inconsistency. Therefore, the CAD file type is converted to STL format.
  3. Part by part construction- The final step in 3D printing is when the printer builds layer by layer of the object.
  4. Finishing and cleaning- The printed object is removed from the printing bed and may need some final cuts for finishing. The fourth steps involve giving the finishing touch to the thing. Its surface is treated with manual labour or chemicals for the desired shape.

Use of 3D Printing in Packaging

3D printing techniques have many advantages over traditional packaging methods. It is most effective in supplying packaging material when the demand is not high, and manufacturing needs to be very limited. It avoids the wastage of finished goods that are produced in a batch that is not required.

Moreover, there is no need for creating the raw material of the desired specification and density through the extrusion process. 3D Printing can do the same; thus, it can allow personal packaging too. It means that even a single object with a customised structural design can be made without creating or altering any mould. Packaging the product is as important as the product itself. It defines the brand value and identity when it comes to accumulating sales and maintaining a customer base.

Traditional packaging methods use subtractive production methods. Most of the raw material gets wasted due to its inefficiency. But with 3D printing’s additive technology, we can use as much as we want. As a consequence, we can curb carbon emissions.

Fused Deposition Modelling and Packaging

FDM is the most widely used 3D technology that helps manufacture 3D printed moulds for thermoforming or vacuum forming, though it is a little simplified. Plastic is heated to make it soft, and then it is pressed against a mould in a vacuum for the desired shape.

3D printing machines are utilised to make those moulds. They are more heat-resistant, and they are made with FDM 3D printing technology. The moulds made with FDM are sturdy and can be for longer lengths of time than moulds made with traditional methods.

For instance, 3D printed moulds made of plastics are used to encase toys in a PTEG shell. The plastic sheet is vacuum formed through FDM tools. It also used traditional materials such as HIPE and ABS.

Personalised Packaging and 3D Printing

There has been a surge in marketing strategies being modelled around making personalised products and services for customers. It is a fool-proof strategy for generating sales. Many established brands have been employing this to their benefit, such as: –

    • Share a Coke Campaign
      The Coca-Cola Company has adopted the campaign to replace their traditional logo with the most famous American names.
    • Nutella’s personalised Jars
      Nutella has also followed suit of Coke. They are also offering Nutella jars displaying the name of the customers.
    • My Burberry
      Burberry, the high-end fragrance company, allows its customers to engrave their initials on the bottles they purchase.
    • Johnny Walker
      The whiskey bottles come with a sensor that will notify the owner on their smartphones as to when the bottle was opened and closed.

Therefore, manufacturers offering personalised packaging and limited-edition models will surely benefit from this. The technology is emerging as a boon for manufacturers as they can break free from the limitations of mass production. For instance, it has become easier for brands to give custom-made products as per their customers’ desire at lower costs. The technique has become affordable and immensely sustainable for the environment. Therefore, it is touching the sky by leaps and bounds.

Virtual reality in banking. How are we going to visit the bank in the future?

StrategyDriven Editorial Perspective Article | Virtual reality in banking. How are we going to visit the bank in the future?Science and technology have made tremendous progress over the last decade. What was the subject of science fiction books and films not so long ago has become real and accessible today. Perfect examples of the implementation of these visionary ideas are virtual and augmented reality. Although these technologies are similar, they offer different types of experiences for users: Virtual Reality (VR) is completely computer generated, while Augmented Reality (AR) superimposes selected images over the user’s field of view.

Not only for entertainment

Virtual reality is commonly associated with entertainment and games. No wonder – the exploration of digital worlds can be exciting, and immersion – the feeling of being immersed in a computer-generated environment – can be incomparably greater than when we simply sit in front of the screen while playing.

No one is surprised by the use of virtual reality in military training, medicine and tourism. The possibilities that arise when we put on the VR goggles seem almost endless, which, for example, museums make great use of.

Virtual reality in a banking version

It is an opportunity to present various data in an attractive way. Instead of presenting tables and numbers, the advisor will be able to, for example, transfer the client to some real estate, show him spatial, attractive charts or visualize data or the effects of various decisions.

Searching through a variety of financial data can be a serious headache. The question is, how do you turn boredom into fun? Then virtual reality comes to mind. The idea is to visualize said data, which is usually dry and unfriendly – and in effect make it much more accessible. We can also visualize the potential effects of an investment decision.

The digital world as an argument

However, this is only one aspect of the revolution that virtual reality can bring in banking. What else could change? The latest research shows that virtual reality is a great tool that helps us understand the meaning and meaning of various banking products.

This is evidenced by an experiment conducted on a group of volunteers. Its participants were given VR goggles, and after putting them on, they were placed in a room with a large mirror that they could look into while remaining in virtual reality. Some saw his current reflection in him, and others saw his face, but reshaped to reflect his appearance at the age of 70.

After such a session, the respondents were asked how much of the $ 1000 they would like to spend on their current needs and various pleasures, and what part to save for future retirement. It turned out that people who saw their old alter ego in virtual reality were inclined to retire almost twice as much as the rest! Virtual reality helped in this case to show that saving is not some abstract sacrifice, but actually money that we give to ourselves – just a little older.

Our only limit is our imagination

When and if we visit the bank wearing VR goggles? The growing popularity of virtual reality suggests that it will happen soon. It is all the more likely that access to VR has become cheap and common due to solutions that use our smartphones.

Therefore, it is only a matter of time when, sitting comfortably in an armchair, we visit our bank, the appearance of which we will adapt to our current well-being. Pastel walls and a startup atmosphere? Here you go! Or maybe stylish marbles finished with brass? No problem!

During the conversation with the advisor, we will move, for example, to a housing estate where we intend to finance the purchase of real estate with a loan or – if we have such a whim – even to the Amazon jungle. With VR goggles on your head, we will only be limited by our imagination.

All this with the innovation that is Mazerspace – a virtual space platform that lets banks create tailor made VR spaces and VR experiences for both their clients and employees. To learn more visit https://mazerspace.com/finance/ 

The Top 5 Growing Industries In Spartanburg

StrategyDriven Editorial Perspective | The Top 5 Growing Industries In SpartanburgIf you are an investor or business owner looking to carve out some space in the Spartanburg SC  area, then knowing who the major players are in the area is important. This is especially true when looking to buy a business through a business broker Spartanburg service in order to know who your competition may be.

Aerospace

The aerospace industry has seen a lot of growth in the last few decades. In 2020, this industry boasted 5,148 jobs, which is 336% above the national average for this industry. The reason why this industry has grown so much is due to The Boeing Company creating assembly facilities and their consolidation of the 787 production to the South Carolina area.

Charleston, for example, is one of the three places in the world that assembles and delivers wide-body jets. This makes this location a prime area for highly skilled workers such as electrical engineers, mechanical engineers, as well as other specialized skills.

There is also a very large aeronautical training center in this area. This training facility is designed as a partnership between government and private companies to train pilots and other operators on specialized equipment. This facility is over 218,000 square feet and includes two hangars, a ramp, 22 classrooms, 25 specialty labs, and 37 staff offices.

Automotive

The automotive industry boasts 4,151 jobs in this area, which is 141% above the national average.  The main reason for this is the Mercedes-Benz Vans automotive plant that was opened in 199 and then doubled in size in 2018. This plant alone employees over 1,300 people.

This plant fabricates and delivers Mercedes sprinter vans which are coveted by sports enthusiasts and road trippers throughout the county. Due to the high demand for these vans, which are often bought by fleets of delivery companies, this plant has become a staple to this area when it comes to a healthy job force and decent wages in the community.

Technology

It’s often said that South Carolina is primed to become another “Silicon Valley” of sorts. The main reason is that this area has been selected as a desirable location for technology-based workers. The proof of this is that there are more than 400 technology-based companies in the area across a myriad of different industries. Some of the most notable homegrown tech companies that have come out of this area include companies like Phish Labs, Blackbaud, and Benefitfocous. This area also works with Google for satellite operations, Infosys, and other large technology firms.

This area is also home to many technology startups as it is very entrepreneurial friendly and boasts a decent cost of living that cannot be found on the west coast. Another reason why this sector is so desirable is because of some of the other large industries in the area, there are a lot of people with highly skilled specialties that can help to spur new business growth.

Logistics

One business broker in Spartanburg deems the logistics industry to be one of the fastest-growing industries in the area. The reason for this is due to many deepwater ports, international airports, and easy ground transportation which makes transportation needs easier to carry out.

Along with 41,000 miles of state-maintained highways and 2,000 miles of rail line, shipping products and services has made this area into a natural logistics hub. The South Carolina Ports Authority offers weekly service to more than 140 international destinations and can handle vessels that can draft up to 48 feet. This port has one of the highest efficiency ratings in the world as they specialize in getting cargo in and out as fast as possible.

South Carolina’s international airport is a joint civil-military airport that further helps private and government entities ship and receive cargo. The United States Foreign-Trade Zones are special areas that reduce the cost of import duties. There also just so happens to be one of these types of ports in this area.

Defense

This area is estimated to bring in over $2.6 billion annually in contracts from the Naval Information Warface Center. Because of this, there are over 80 defense contractors in the area that deliver talent and success in order to achieve and secure these contracts. These defense contractor companies cover everything from cybersecurity, space systems, and communication. This has made this area one of the fastest-growing mid-size metro areas for computer and hardware engineers. Large companies such as Science Applications International Corporation, Scientific Research Corporation, BAE Systems, and I.T.T. Kliburn all are large players in this industry space.

As you can see, the Spartanburg area is a thriving area with a lot of different industries. As an investor who is looking to buy or sell a business, it’s important to take note of who the major players are in an industry to make sure that the business you are interested in buying or selling has the foundation in order to compete. For businesses that are looking to grow, this information can also be extremely helpful when it comes to knowing if the types of people you need to hire exist naturally in the area or if they will need to be relocated nearby.

If you are selling a business, having the information of your competitors is also very important to help potential buyers know how the business fits into the geographical landscape and what industry resources are available to tap into. By having this information, you will be better equipped to sell or buy a business in this area.

How Is Technology Moving Businesses To The Next Level?

StrategyDriven Editorial Perspective Article |Business Technology|How Is Technology Moving Businesses To The Next Level?After the Industrial Revolution, the business world stayed pretty much the same for a century or so, but that certainly can’t be said for recent times, and this will never happen again either. The reason for this is, of course, technology. It is adapting, mutating, and developing at a rapid pace, and it is constantly changing businesses and the way they work. With that in mind, let’s take a look at the different ways technology is changing businesses.

  1. The social impact – Gone are the days when businesses could exist in a vacuum. Social networking has meant that users can connect without any regard for financial background or geographical obstacle. Before, you could have gotten away with offering an average level of customer service, but nowadays, you can expect to feel the brunt of bad reviews and negative comments on social media websites. This is why businesses need to invest a lot into their social identity. Once something is on the Internet, it is on there forever, and it is incredibly difficult to shift a bad reputation.
  2. Taking advantage of more opportunities – Businesses are able to do more and achieve more thanks to the advances in technology. The medical sector is a prime example of this. Top software telemedicine companies have made it possible for those in the healthcare industry to have video appointments with their clients. This means that they can reach people that cannot get to their clinic and they can reduce the ever-growing problem of waiting times, which often occurs because people visit medical surgeries when they don’t really need urgent attention. These people can now have a consultation from the comfort of their home thanks to technology. And this is just one example; as all industries have felt the unexpected advantages of technology and experienced new channels open for them as a consequence of technological advancements.
  3. Customer segmentation – It is now easier than it ever has been to understand the customers you are looking for thanks to the flow of more and more data. Due to the expansion of analytics services, you can segment your prospective customers into smaller groups, enabling you to target them more specifically. This means businesses can get more for their marketing buck, so to speak.
  4. Cloud computing – Small and large businesses are able to move their operation to third-party services that are available via Internet connectivity thanks to cloud computing. The benefits of this are extensive. You can make the most of varied data packages, as well as rapid mobility and expansion without fear of permanently lost data, crashes, and downtime. This has been especially beneficial for small companies, as they can access resources that they would not have been able to before because of budget constraints. Read Smoothstack reviews for more information.
  5. Mobile solutions – Last but not least, it would not be right to take about technology without mentioning mobile solutions. This is so important that Google has edited its algorithms so that websites with seamless mobile browsing are ranked higher. Plus, if you have the correct software downloaded onto your smartphone, you can handle every aspect of your business while you are on the go.

Why is Inflation All over the World the True Reason for the Decline in the Bitcoin Price?

StrategyDriven Editorial Perspective Article |Bitcoin|Why is Inflation All over the World the True Reason for the Decline in the Bitcoin Price?When we are talking about the value of something in an economy and all over the world then the main factors which determine the value of something are the demand and supply. Here when the demand rises for something, it also leads to the rise in price for the same. And if the supply increases for something then it eventually results in the decline in the price for the same.

Now the main aspect which we all need to consider here is that when the central bank is going to increase the money supply then it will obviously be going to result in a fall in the actual value of money. So, the exchange value of money will decline, which simply leads to inflation.

About Issuance of Bitcoins:

If we relate the above given demand and supply scenario with bitcoins, then we already know the fact that bitcoins can only be issued upto certain limit that is 21 millions. This means there will be no more bitcoins after it reaches its issue limit of 21 million bitcoins.
Now the supply of 21 million has not been fulfilled yet. So, the more bitcoins can certainly be issued at this point of time. Hence, the more supply can absolutely lead to fall in prices.

But this fact doesn’t prove that the value of bitcoins is going to decline in the near future. Because the value of something can also be determined with the demand and supply of relative goods where the value of one such good usually goes down as it sees the increase in supply of the same. Here the relative goods which we are talking about are the bitcoins and the money currency as well. And the fact of affecting the value of one good with another has been proved in the lockdown situation.

Issuance of Currency in Pandemic:

During the pandemic conditions all over the world, almost every country has issued huge amounts of funds in the form of its currency in its respective economy to meet the requirements of the people. This means the money supply actually increases during the Covid-19 pandemic situation. And the increase in supply eventually decreases the actual value of money that results in inflation.

Further, this overflow of money currency in every economy makes people dependent on it for the purpose of exchange. So, the focus of people during this pandemic shifted towards monetary currency from bitcoins. And the fall in the demand of bitcoins for exchange leads to decline in the price of bitcoins as well. That is why it has been mentioned that the inflation all over the world is the true reason for the declines in the bitcoin price.

StrategyDriven Editorial Perspective Article |Bitcoin|Why is Inflation All over the World the True Reason for the Decline in the Bitcoin Price?Bitcoins: The Hedge Against The Inflation:

Now it has already been proved that the reason for the rise in inflation is generally the increase of money supply in an economy in the long run. Further, Bitcoin is the relative good for money which defines the demand for one good will decrease with the increase in supply of another good which actually has been proved during the pandemic.

But there are many economists who literally ask investors to hold the bitcoins as hedge against the inflation and they are absolutely not so stupid to do that. And this is absolutely because of the limited number of bitcoins that is 21 millions and which cannot be issued more than this value. So, this can be termed as an exception in the theory of relative goods.

This also defines that you can actually start accepting bitcoin in your business. Because the number of bitcoins is going to be limited in future. And when the supply is going to be stopped then demand is certainly going to rise as compared to the available supply of bitcoins in the cryptocurrencies market. This fact clearly defines that the more demand for bitcoins in future will result in higher value of bitcoins which you are going to hold with you in future. Hence, this is the real time when you can actually start accepting bitcoins for your business in exchange for your goods and services.

Conclusion:

From the above discussion, it has been clear that people generally react to the news, facts and rumours as well related to some particular markets which eventually affects and decides the demand and supply level of that commodity whether its financial or not. And this is the same scenario with the money currencies whose value declines with the overflow of funds in a particular economy which creates the situation of inflation. But you still have the choice to deal with this long run inflation by hedging the bitcoins against it. So, start accepting bitcoins now and reap the benefits in future.