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Software Tools

Applied Economics in US Manufacturing

Assembly Plant
Photo Credit: The Chrysler 200 Factory Tour, an interactive online experience using Google Maps Business View technology, takes consumers inside the new 5-million-square-foot Sterling Heights Assembly Plant for a behind-the-scenes peek at how the 2015 Chrysler 200 is built.
CostGuide - Metal Plate


Manufacturing Cost Guide

A tool that estimates the costs that US manufacturers face and can be used to help gauge the potential returns on manufacturing industry research projects through cost reductions. The tool can be used to answer questions such as:

  • An organization is conducting research to reduce redundant engineering labor. How much do manufacturers spend on engineering?
  • A researcher is proposing a project to reduce the use of steel by advancing material standards, thereby, reducing scrap caused from material deficiencies. How much do manufacturers spend on steel?


Monte Carlo


Monte Carlo Tool

This tool makes simulation simple. It is used to implement Monte Carlo analysis, which uses probabilistic sensitivity analysis to account for uncertainty. This tool is developed to follow the simulation segment of ASTM E1369.


Next Big Thing


Coming Soon - Cost Assessment Tools for Sustainability (CATS)

CATS is a software tool for comparing capital investments in manufacturing and implements a forthcoming ASTM standard. It can be used to examine whether a new HVAC control system is cost effective or which of five proposed investments is the most preferred. Although CATS can be used to identify the most cost-effective investment, it has the ability to incorporate environmental impact into its assessment.


Created January 24, 2020