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3D Printing

How 3D Technology Advances Can Accelerate and Affect Globalization

3D technology will have significant effects on the global manufacturing and design

industry and the entire economy. Globalization will expand even rapidly shortly. The transfer of

data on the internet will also continuingly accelerate global trade. There are limited challenges

posed by the 3D technology especially on logistics industries; the technology also has its ups and

downs. It can furthermore catalyze the rate of research and development of global technology.

An increased efficiency in manufacturing is in contrast with globalization (ted.com, n.d.).

Implications of Adopting 3D Technology

3D printing can revolutionize the production process if it is combined with competent

manufacturing and production. A shift in global production may affect the logistics industry

leading to concentrated shipping of finished goods but at the same time increased shipping of

raw materials and transfer of data globally. Instead of shipping already manufactured products

and dealing with bulk and sophisticated goods, 3D Printing will ultimately impact the circulation

of goods as consumers are capable of creating products locally. In the eventuality, this will create

new avenues for the flow of merchandise, maybe of the substrates required to supply the 3D

Printers, which will be in high demand (ted.com, n.d.).

Increased manufacturing favors globalization. It will lead to diverse effects on

employment. On the positive side, if more people are going to adapt the technology, more job

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opportunities are going to be created. An increased manufacturing capacity is in line with the

growth prerequisite for globalization since more businesses will have the ability to produce

products. This will also help satisfy the need of localized content for customers on a global scale.

Random customization and manipulation depending on the consumer preferences will lead to

satisfaction by customers as they will be able to choose from various designs to satisfy their

needs. There is less wastage. There will be Optimization of operation effectiveness of global

logistics and the cost of freight shipping, once a local spare parts production becomes feasible

and within the financial reach. Having readily made equipment will decrease downtime due to

the availability of spares (ted.com, n.d.).

In the modern industries, we are already experiencing production prototypes. Smaller

manufacturing plants can produce complex and high-value goods. The industry will undergo a

complete transformation if the 3D technology is adopted. The implications of these trends can be

revolutionized to match the needs, for instance, logistics companies which invest in providing 3d

services and equipment (ted.com, n.d.).

Items in an Income Statement or Balance Sheet to Be Affected by Technology

In the Income Statement, liabilities will be affected. The financial commitments including

wages, operation declarations and taxes will be affected. Total assets listed especially property

will change as it will comprise of more technology and complex equipment, fixed assets, and

intangible assets will also change due to alteration in tools and the material used. As a result, the

cost of goods and raw materials and lists of the expenses on the Income statement which can

include the cost of sales, selling and administrative, and revenue taxes will be affected. Others

include equity and shareholder. In the income statement. The following parts will be affected:

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SURNAME1 Student: Professor: University affiliate: Date: 3D Printing How 3D Technology Advances Can Accelerate and Affect Globalization 3D technology will have significant effects on the global manufacturing and design industry and the entire economy. Globalization will expand even rapidly shortly. The transfer of data on the internet will also continuingly accelerate global trade. There are limited challenges posed by the 3D technology especially on logistics industries; the technology also has its ups and downs. It can furthermore catalyze the rate of research and development of global technology. An increased efficiency in manufacturing is in contrast with globalization (ted.com, n.d.). Implications of Adopting 3D Technology 3D printing can revolutionize the production process if it is combined with competent manufacturing and production. A shift in global production may affect the logistics industry leading to concentrated shipping of finished goods but at the same time increased shipping of raw materials and transfer of data globally. Instead of shipping already manufactured products and dealing with bulk and sophisticated goods, 3D Printing will ultimately impact the circulat ...
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Tags: management discussion business Global Enterprise Development International business management