NIST Joins the Mission

Posted by Chuck Richards on Jul 12, 2016 12:03:00 PM

National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership 

Kenneth P. Voytek, Chief Economist at NIST, publishes first academic use of CoreValue data:
“Puzzling Over Performance”

"This paper will extend our understanding of the factors associated with productivity differences across firms. In particular, the paper will examine whether productivity differences across small and mid-sized manufacturing firms are associated with a set of factors measuring operation excellence. The paper will use a range of multivariate models and several different dependent variables. The paper will examine whether factors measuring operational performance across 18 dimensions (some of the dimensions including markets, growth, innovation, management, barriers to entry, brand, etc.) are associated with higher productivity and higher gross margins. This quantitative study will draw on a unique set of proprietary data (CoreValueTM) collected on several thousand small and mid-sized manufacturing firms across the U.S. that assesses how well they stack up on these 18 dimensions of manufacturing operational excellence and related information on business outcomes including productivity, gross revenue and net income (as measured by EBITDA)."  

You can read more of Ken's paper at the NIST blog:

The CoreValue mission moves forward. Our work together is making a difference in our communities. We've made the 18-Driver framework the Gold Standard for measuring operating performance. "font-family: Helvetica, Arial, sans-serif;formance.  By measuring performance we link operations with financial output, creating the transparency needed to link SMEs with the capital markets.  

Together we have pioneered elegant quantitative tools that change peoples’ lives. We have built the tools, and you have used them to create and capture over $4 Billion of new value – creating jobs, and wealth, and a growing economy. 

I value your feedback.  My direct dial is (802) 473-3144, or email 

About NIST

Since 1988, the Hollings Manufacturing Extension Partnership (MEP) has been committed to strengthening U.S. manufacturing, continually evolving to meet the changing needs of manufacturers. Through its services and partnerships it has had a profound impact on the growth of well-paying jobs, the development of dynamic manufacturing communities, and the enhancement of American innovation and global competitiveness. Since 1988, MEP has worked with 86,620 manufacturers, leading to $96.4 billion in sales and $15.7 billion in cost savings, and it has helped create and retain more than 797,994 jobs.  

About CoreValue

CoreValue is the world leader in measuring the operational performance of private businesses based on an industry standard framework of 18 Value Drivers. Developed at MIT and recognized by NIST-MEP centers, economic development counsels and industry groups nationwide. The framework enables delivery of fast, comprehensive insights into operational health and value. 

Topics: Private Business Data, Standards and Best Practices

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