Applied Economics in US Manufacturing
The Manufacturing Cost Guide (MCG) is a tool that estimates industry statistics for the manufacturing supply chain based on economic input-output analysis. It allows users to estimate value added for an industry and its supply chain. For example, a user could estimate the supply chain components of the automobile manufacturing, which would estimate the value added from all the other industries that is used by the automobile manufacturing industry. The tool also estimates the types of labor that are used, compensation, environmental impact, energy use, and assets in the supply chain.
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.
This Excel tool implements the methods discussed in NIST Advanced Manufacturing Series 200-5, which is a guide to Investment analysis. The tool implements the following methods: