More information is available in the M3 Instruction Manual. PDF [1.5mb]
Shipments - Manufacturers’ shipments measure the dollar value of products sold by manufacturing establishments
and are based on net selling values, f.o.b. (free on board) plant, after discounts and allowances are excluded. Freight charges and excise taxes are
excluded. Where the products of an industry are customarily delivered to distributors or consumers by the manufacturing establishment (such as in
certain foods industries – fluid milk, bakery, soft drinks), the value is based on delivered price rather than f.o.b. plant price. Multi-industry companies
report value information for each industry category as if it were a separate economic unit. Thus, products transferred from one plant to another are
valued at their full economic value.
New Orders - A new order is a communication of an intention to buy for immediate or future delivery. Orders data are
not collected from industries that have mostly immediate deliveries. See Part H to determine if the M3 survey request orders data for your industry
category. Only orders supported by binding legal documents (such as signed contracts, letters of intent, or letters of award) should be included.
Reported data should include all new orders received during the month less cancellations.
Order Backlog (Unfilled Orders)
- Generally, unfilled orders at the end of an accounting period
are equal to unfilled orders at the beginning of the period, plus
new orders net of cancellations received during the period, less
net sales. This includes orders that have not yet passed through
the sales account and funded orders (or portions of orders) for
which the value of work done has not been reported as sales.
Total Inventory - Total inventories represent the value of the end-of-month stocks regardless of stage of
fabrication (whether in the form of purchased materials and supplies, work in process, or finished goods). These inventories are valued at cost using
any valuation method other than LIFO. Inventories associated with the non-manufacturing activities of your company are excluded.
Materials-and-Supplies Inventory - All unprocessed raw and semifabricated commodities and supplies for which you have
- Accumulated costs of all commodities undergoing fabrication
within your plants and long-term contracts where the inventory
costs are for undelivered items and the value of work done that
has not been reported in sales.
Finished Good Inventory - The value of all completed products ready for shipment and all inventories and goods bought for resale requiring no further processing or assembly.
No accumulation of finished goods inventories should occur with long-term contracts unless the total sales receipts are not recorded until the time of delivery.
Revised historical data for Manufacturers' Shipments, Inventories, and Orders were issued on May 17, 2013. These revisions reflect: benchmarking the shipments and inventories data to the 2011 Annual Survey of Manufactures (ASM) data, as well as revised ASM benchmarks for prior years; incorporating the unfilled orders to shipments ratios obtained from the 2010/2011 Manufacturers' Unfilled Orders Survey by applying these ratios to the respective ASM shipments data, as well as incorporating revised unfilled orders to shipments ratios for prior years; adjusting the new orders data to be consistent with the benchmarked shipments and unfilled orders data; correcting monthly data for late receipts, reclassifications of reported data, and revisions to previously reported data; migrating the data processing environment from a server having a Linux Red Hat 4 operating system that supports SAS® 9.1.3 to a server having a Linux Red Hat 5 operating system that supports SAS® 9.2; and updating
the seasonally adjusted data, based on the results of benchmarking and the recent annual review of the seasonal adjustment models. An accompanying press release includes the revised 2013 January through March data. Please call Jessica Young on (301) 763-4832 with any questions.
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or call (301)763-4832.
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