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Potential Cost Savings as US Manufacturers Spend Billions on Machinery Maintenance

June 24, 2021

As discussed in NIST AMS 100-18 , the cost of machinery maintenance is not well understood; however, Census data estimates that $50 billion was spent on...

NEW RELEASE: Guide to Sustainable Investment Analysis

March 24, 2021

NIST’s Applied Economic Office released a “ Guide for Environmentally Sustainable Investment Analysis” based on ASTM E3200. This guide presents techniques for...

Inadequate Modeling Data Costs Billions to US Manufacturers

February 12, 2020

Modeling data can reduce redundant design and production activities which include an estimated $8.4 billion spent on engineers answering questions and creating...

Manufacturing GDP Returns to Pre-Recession Levels, Employment Remains Down 10 %

January 24, 2020

Each year, the NIST Applied Economics Office assembles a report that examines public data on US manufacturing. The most recent report identified that US...

New NIST Tool for Estimating Manufacturing Industry Costs (Beta version)

January 24, 2020

It might seem that estimating manufacturing industry costs (e.g., total machinery maintenance costs for all manufacturers) would be easy and have a great deal...

New Tool to Account for Uncertainty

January 20, 2020

Cost examinations often run into the challenge of data uncertainty, where variables in the calculation (e.g., price of gasoline) will fluctuate over the study...

NIST Economics Hits the Additive Manufacturing Spotlight

July 23, 2019

In late 2014, the Applied Economics Office (AEO) published NIST Special Publication (SP) 1176 , “Costs And Cost Effectiveness of Additive Manufacturing.” For...

Evidence Suggests Increased Flow Time Suppressed US Manufacturing Productivity

Between 2005 and 2016, US multifactor productivity declined an average 0.3 % annually. Some debate has ensued about the cause of this decline or whether there...

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