In fact, 3D CAD tools are one of the reasons for increased productivity in manufacturing, and allow for more accurate and high quality parts to be produced and brought to market in record time.
Iterations can be easily shared with clients or upper management, and changes made instantly based on their feedback. CAD software offer massive advantages over drawing on paper, as you can instantly edit, make complex changes, and then export the model for production - such as by CNC machine, or by additive manufacturing or 3D printing.