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In this blog he provides a simple reference guide to better yourself as a supply chain leader. 5) Ongoing Assessment of Key Supplier Site Metrics to Ensure Business Continuity with Companies' Requirement and Proactively Identify Potential Risk Factors. Every business has their set of metric which they want to focus on. Editor's Note: Today's blog is by Dr. Muddassir Ahmed of muddassirism.com. MORE
Yes, data refers to people in this case. A Guide to the Warehouse Metrics Supply Chain Execs Should Track. Metrics and KPIs OmniChannel omnichannel supply chain analyticsIn the omnichannel world, supply chain leaders need to understand every process and activity. Unfortunately, omnichannel also means more data in every aspect of your operation. Omnichannel supply chain analytics provide the level of insight needed to succeed in the omnichannel-driven world. MORE
Key performance indicators (KPIs) refer to the targeted goals that rely on metrics to provide a snapshot of the health of your operation. They connect data and metrics with an evaluation of whether your operation performs as expected and what strengths or weaknesses may exist. Supply chain leaders need to know which KPIs of a.read More. The post What Are the KPIs of a Transportation Management System appeared first on Transportation Management Company | Cerasis. MORE
These break down as follows: POS data: This refers to the retail measurement , which is data collected from stores using POS systems and e-commerce software. Panel Data: This refers to consumer-level data. Product Data: This refers to all the information about a product that can be read, measured, and structured into a usable format. SupplyPike has developed tools that utilize Walmart data to provide deep analyses into sales and forecast metrics. MORE
For s omeone who is a Constraints Management person, this is the equivalent of saying “Ni” to the Knights Who Say Ni (Monty Python reference, okay?) When we look at the organizations of today, words like efficiency and productivity get thrown around with little understanding of what is required to improve one of these measurements (metrics). This “lost opportunity metric” is now something that Lean manufacturing experts try to keep at the top of the list. MORE
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. Perfect Shipment Measurement This metric can also be called Perfect Order Measurement. For retail vendors, this metric is particularly crucial, since they may have to pay a penalty for orders that show up late. Reference 1. MORE
SEPTEMBER 20, 2018
A Guide to the Warehouse Metrics Supply Chain Execs Should Track. ” Skilled cycle counting refers to reducing instances of documenting discrepancies, following up on issues that led to inaccurate cycle counts, enabling process improvement, and taking corrective actions to minimize the inaccuracies in the future. As a result, Warehouse Managers may need to integrate picker performance metrics with this KPI. Metrics and KPIs Warehouse Management MORE
What specific policies, processes, and metrics in the supply chain would achieve success in this strategy? Why are we forgetting to define what supply chain excellence means for the company or specific division, especially in terms of business metrics in financial statements, prior to the revamp of processes and policies? Supply Chain Index , brief explanation of the index and more references. MORE
Refer back to your Assessment — many companies have yet to create a comprehensive digital twin. Challenge yourself to think beyond the traditional Available-to-Promise metric and ask if an action meets the criterion of profitable-to-promise. MORE
The metrics you use to manage your manufacturing operations need to matter, and they need to be actionable. For a detailed review of the operational metrics we recommend in a demand-driven manufacturing environment, refer to our Metrics for Action Guide. Conventional wisdom also says to keep the number of metrics you measure to a minimum. Measuring more than a select handful of metrics may not be realistic. Most experts agree. MORE
The process is sometimes also referred to as inventory optimisation, or product optimisation. Other useful SKU metrics. Understanding this metric helps you identify products that are soaking up costs sitting in your warehouse too long. MORE
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. , This metric can also be called Perfect Order Measurement. Also called Must-Arrive-By-Date (MABD) Adherence, this metric shows the average of delivering on time against the date required by customers. Reference. MORE
Freight analytics refers to a set of algorithms that meticulously comb through the mountain of freight data to unlock its potential. Recent research indicates the freight metrics and analytics market will swell to more than $27.4 According to Research & Markets, their value is further evidenced by their growth. billion by 2024, presenting new opportunities.read More. MORE
After that, we collect various metrics of each purchasing book as below, - Citation counts: a basic bibliometric method showing how many times a book is cited by other publications. Of course, this metric will not be used in isolation. Fraser Johnson and Anna Flynn 7) The Procurement and Supply Manager's Desk Reference by Fred Sollish and John Semanik 8) The Purchasing Chessboard: 64 Methods to Reduce Costs and Increase Value with Suppliers by Christian Schuh, Joseph L. MORE
It will be tricky to drive change because they are likely the CEO’s “dashboard metrics”. Many measurements are sacred to the board or other metric owners. Feel free to refer the metric owner to point number 3, after you have developed a meaningful alternative. Every industry seems to have its silver bullet for creating improvement. MORE
Make sure that the data is harmonized to ensure all data has the same time reference. The focus is on functional metrics, but are unable to get to overall supply chain metrics. The reference for supply chain leaders is an airport control tower. Carefully design conrol systems to compare reference data to control theory.) We finished dinner. I pressed my neatly folded napkin to my lips. As we waited for coffee, silence hung heavy in the air. MORE
The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. This is a simple key performance indicator (KPI), another name for metrics, to track. It refers to the in-stock or out-of-stock accuracy of supplier inventory. The Fill Rate is a complex metric that considers the average window of delivery, percent of on-time delivery and accuracy of delivery for all products coming into your warehouse from vendors. MORE
Demand-driven managers know that having too many metrics leads to conflicting measurements. We call these Metrics for Action. Metrics for Action. Metrics for Action are not intended for overall business analysis or for simply reporting. Rather, they are metrics grounded in Lean Manufacturing , Constraints Management, and Six Sigma principles that serve as operational indicators that can be acted on to improve production flow and ultimately, Throughput. MORE
Which metrics are most important? Everyone would agree that the big buckets of metrics are Service, Revenue, Inventory (Cash), and Cost, which support your company’s strategic goals. In Part 1 , I wrote about company culture and making decision trade-offs using metrics, alignment of objectives, and the need to measure past, present and future performance. Recognize achieving the optimal goal for each metric requires trade-offs. This is what I refer to as trade-offs. MORE
Do you have the right metrics? Metrics show how your supply chain is performing – providing they are the right ones to do the job. Inappropriate metrics can give a false or incomplete picture of supply chain performance. Second, what metrics are the best indicators of performance in terms of these goals? These are examples of metrics that may or may not support your goals. Benchmark your operation using the selected metrics. MORE
Using data in logistics to improve your processes does not necessarily require existing orders and information from KPIs and metrics. Metrics and KPIs. However, data in logistics can be further simplified by organizing it into KPIs and metrics. Metrics and KPIs should reflect real-time information about your shipping processes. Basically, metrics and KPIs are a means of preventing and addressing distressed shipments. MORE
This is difficult for the average company since only one in two supply chains have source, make and deliver reporting through the same organization (reference Figure 1). I then pack my bags and scoot out the door to sign books and discuss the research completed for the S upply Chain Metrics That Matter book at the ISM event on Thursday, May 14th in Atlanta. Forty years ago as a chemical engineering student, I learned the tedious craft of chemical plant design. MORE
Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. Metrics. SCOR Level 1 Metrics are good examples of measures that have longer-ranging focus. MORE
Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. Additionally, the use of metrics fosters positive relationships with coworkers and adherence to rulesets and best practices for the respective third-party logistics provider (3PL). What Distribution Center Metrics Need Tracking? What distribution center metrics are you tracking or are not listed here? MORE
In other words, these are projects with benefits that are not visible in short-term financial metrics, but extremely important from a long-term perspective. This set included an “Acts of Compliance” signed by each client for every spare part, with the reference to the active service contract. Indeed, financially-oriented metrics do not show everything that is important. MORE
In the first post our long tme guest blogger, Chuck Intrieri of The Lean Supply Chai n, gave us 5 core metrics to evaluate supplier performance using supplier quality management and a 4 step process to execute. In today’s post, Chuck will take it a step further and break down metrics and issues to look out for by 5 main industries: Pharmaceuticals. Review of SQM Metrics and Issues Across 5 Core Industries. #1: Trend Metrics Collected per Site. MORE
Internal Operations—Shrinkage of Inventory : Inventory shrinkage refers to the amount of inventory listed in the accounting records, but such inventory is no longer within the facility. Additional metrics can be calculated by dividing the cost of returned goods by the total cost of goods sold. Furthermore, efficiency and other supply chain inventory and performance metrics may suffer as a result of time lost. Metrics and KPIs Warehouse Management Top Warehouse KPIs MORE
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. Perfect Shipment Measurement This metric can also be called Perfect Order Measurement. For retail vendors, this metric is particularly crucial, since they may have to pay a penalty for orders that show up late. Reference 1. MORE
Resilience refers to the time it takes supply chains to predict and avoid risk, as well as respond and recover from costly disruptions. Supply chains are vulnerable to risk which makes detection time an important metric. Supply chains are diverse and complex – so are the potential risks that could disrupt them. A good supply chain management strategy invests in resilience. MORE
Metrics, sometimes referred to as key performance indicators (KPls), data, insights, or analytics, provide a glimpse into the universe of your warehouse management system (WMS) and operation. Tracking the right warehouse metrics is comparable to using binoculars to gain insight into your processes. Big data also increases the importance of metrics in the modern warehouse. Metrics and KPIs Warehouse Management White Paper MORE
Each of these types of waste has at least one metric associated with it. While there isn’t always a clear 1:1 correlation, the chart below shows just some of the most common metrics impacted when improvements are made. For more details on several of these metrics as well as additional metrics you may find useful on your Lean journey, refer to our online and downloadable Metrics for Action Guide. . . Where to Start Your Lean Journey. MORE
Bottom Line: Manufacturers are reaching a new level of results in 2018 because they have clearer, more actionable insights based on real-time manufacturing and quality metrics than ever before. Quality Metrics Enable Customer-Driven Manufacturing Networks. The future of manufacturing is being written today across the millions of shop floors which have chosen to excel at analytics, metrics and Manufacturing Intelligence. Quality Metrics Defining the Future of Manufacturing. MORE
A carefully calculated reorder point is therefore critical to good stock control, and keeps your key metrics looking healthy for your next inventory report. As the name suggests, safety stock refers to the excess products you keep on hand in case of an emergency or supply chain failure. MORE
You can with inventory metrics. Why should you care about inventory metrics ? We think these are the top 10 inventory metrics that you need to know right now. Top Ten Inventory Management Metrics. The term “line” refers to a line on the order since a typical delivery order or shipment will display the name of each ordered product and quantity in its own line. This refers to how closely your inventory records match your physical inventory. MORE
Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. Corporate social responsibility (CSR), which is often referred to as environmental, social and governance (ESG) in the finance industry, is becoming an essential criteria for measuring business performance. MORE
Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources. MORE
Cerasis
SEPTEMBER 28, 2016
In this blog he provides a simple reference guide to better yourself as a supply chain leader. 5) Ongoing Assessment of Key Supplier Site Metrics to Ensure Business Continuity with Companies' Requirement and Proactively Identify Potential Risk Factors. Every business has their set of metric which they want to focus on. Editor's Note: Today's blog is by Dr. Muddassir Ahmed of muddassirism.com.
Cerasis
JULY 13, 2015
Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. Additionally, the use of metrics fosters positive relationships with coworkers and adherence to rulesets and best practices for the respective third-party logistics provider (3PL). What Distribution Center Metrics Need Tracking? What distribution center metrics are you tracking or are not listed here?
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Cerasis
JUNE 14, 2017
The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. This is a simple key performance indicator (KPI), another name for metrics, to track. It refers to the in-stock or out-of-stock accuracy of supplier inventory. The Fill Rate is a complex metric that considers the average window of delivery, percent of on-time delivery and accuracy of delivery for all products coming into your warehouse from vendors.
Cerasis
JUNE 4, 2015
In the first post our long tme guest blogger, Chuck Intrieri of The Lean Supply Chai n, gave us 5 core metrics to evaluate supplier performance using supplier quality management and a 4 step process to execute. In today’s post, Chuck will take it a step further and break down metrics and issues to look out for by 5 main industries: Pharmaceuticals. Review of SQM Metrics and Issues Across 5 Core Industries. #1: Trend Metrics Collected per Site.
synchrono
MARCH 6, 2017
For s omeone who is a Constraints Management person, this is the equivalent of saying “Ni” to the Knights Who Say Ni (Monty Python reference, okay?) When we look at the organizations of today, words like efficiency and productivity get thrown around with little understanding of what is required to improve one of these measurements (metrics). This “lost opportunity metric” is now something that Lean manufacturing experts try to keep at the top of the list.
Abivin
FEBRUARY 20, 2020
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. Perfect Shipment Measurement This metric can also be called Perfect Order Measurement. For retail vendors, this metric is particularly crucial, since they may have to pay a penalty for orders that show up late. Reference 1.
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EcoVadis
MAY 31, 2018
Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. Corporate social responsibility (CSR), which is often referred to as environmental, social and governance (ESG) in the finance industry, is becoming an essential criteria for measuring business performance.
Abivin
FEBRUARY 24, 2020
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. Perfect Shipment Measurement This metric can also be called Perfect Order Measurement. For retail vendors, this metric is particularly crucial, since they may have to pay a penalty for orders that show up late. Reference 1.
Supply Chain View from the Field
APRIL 1, 2015
Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources.
Abivin
FEBRUARY 24, 2020
Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. , This metric can also be called Perfect Order Measurement. Also called Must-Arrive-By-Date (MABD) Adherence, this metric shows the average of delivering on time against the date required by customers. Reference.
Veridian Solutions
SEPTEMBER 17, 2014
Metrics, sometimes referred to as key performance indicators (KPls), data, insights, or analytics, provide a glimpse into the universe of your warehouse management system (WMS) and operation. Tracking the right warehouse metrics is comparable to using binoculars to gain insight into your processes. Big data also increases the importance of metrics in the modern warehouse. Metrics and KPIs Warehouse Management White Paper
|
synchrono
APRIL 4, 2017
Demand-driven managers know that having too many metrics leads to conflicting measurements. We call these Metrics for Action. Metrics for Action. Metrics for Action are not intended for overall business analysis or for simply reporting. Rather, they are metrics grounded in Lean Manufacturing , Constraints Management, and Six Sigma principles that serve as operational indicators that can be acted on to improve production flow and ultimately, Throughput.
synchrono
NOVEMBER 13, 2017
The metrics you use to manage your manufacturing operations need to matter, and they need to be actionable. For a detailed review of the operational metrics we recommend in a demand-driven manufacturing environment, refer to our Metrics for Action Guide. Conventional wisdom also says to keep the number of metrics you measure to a minimum. Measuring more than a select handful of metrics may not be realistic. Most experts agree.
Talking Logistics
NOVEMBER 17, 2015
Do you have the right metrics? Metrics show how your supply chain is performing – providing they are the right ones to do the job. Inappropriate metrics can give a false or incomplete picture of supply chain performance. Second, what metrics are the best indicators of performance in terms of these goals? These are examples of metrics that may or may not support your goals. Benchmark your operation using the selected metrics.
EMERGE App
MARCH 24, 2020
You can with inventory metrics. Why should you care about inventory metrics ? We think these are the top 10 inventory metrics that you need to know right now. Top Ten Inventory Management Metrics. The term “line” refers to a line on the order since a typical delivery order or shipment will display the name of each ordered product and quantity in its own line. This refers to how closely your inventory records match your physical inventory.
Cerasis
JULY 22, 2019
Key performance indicators (KPIs) refer to the targeted goals that rely on metrics to provide a snapshot of the health of your operation. They connect data and metrics with an evaluation of whether your operation performs as expected and what strengths or weaknesses may exist. Supply chain leaders need to know which KPIs of a.read More. The post What Are the KPIs of a Transportation Management System appeared first on Transportation Management Company | Cerasis.
Unleashed
DECEMBER 2, 2020
A carefully calculated reorder point is therefore critical to good stock control, and keeps your key metrics looking healthy for your next inventory report. As the name suggests, safety stock refers to the excess products you keep on hand in case of an emergency or supply chain failure.
Unleashed
NOVEMBER 30, 2020
The process is sometimes also referred to as inventory optimisation, or product optimisation. Other useful SKU metrics. Understanding this metric helps you identify products that are soaking up costs sitting in your warehouse too long.
Supply Chain Shaman
MAY 13, 2015
This is difficult for the average company since only one in two supply chains have source, make and deliver reporting through the same organization (reference Figure 1). I then pack my bags and scoot out the door to sign books and discuss the research completed for the S upply Chain Metrics That Matter book at the ISM event on Thursday, May 14th in Atlanta. Forty years ago as a chemical engineering student, I learned the tedious craft of chemical plant design.
SupplyPike
MAY 19, 2020
These break down as follows: POS data: This refers to the retail measurement , which is data collected from stores using POS systems and e-commerce software. Panel Data: This refers to consumer-level data. Product Data: This refers to all the information about a product that can be read, measured, and structured into a usable format. SupplyPike has developed tools that utilize Walmart data to provide deep analyses into sales and forecast metrics.
DynaSys
SEPTEMBER 17, 2019
In other words, these are projects with benefits that are not visible in short-term financial metrics, but extremely important from a long-term perspective. This set included an “Acts of Compliance” signed by each client for every spare part, with the reference to the active service contract. Indeed, financially-oriented metrics do not show everything that is important.
The Logistics of Logistics
JANUARY 20, 2013
It will be tricky to drive change because they are likely the CEO’s “dashboard metrics”. Many measurements are sacred to the board or other metric owners. Feel free to refer the metric owner to point number 3, after you have developed a meaningful alternative. Every industry seems to have its silver bullet for creating improvement.
Veridian Solutions
MARCH 10, 2020
Internal Operations—Shrinkage of Inventory : Inventory shrinkage refers to the amount of inventory listed in the accounting records, but such inventory is no longer within the facility. Additional metrics can be calculated by dividing the cost of returned goods by the total cost of goods sold. Furthermore, efficiency and other supply chain inventory and performance metrics may suffer as a result of time lost. Metrics and KPIs Warehouse Management Top Warehouse KPIs
synchrono
APRIL 2, 2018
Each of these types of waste has at least one metric associated with it. While there isn’t always a clear 1:1 correlation, the chart below shows just some of the most common metrics impacted when improvements are made. For more details on several of these metrics as well as additional metrics you may find useful on your Lean journey, refer to our online and downloadable Metrics for Action Guide. . . Where to Start Your Lean Journey.
Veridian Solutions
SEPTEMBER 20, 2018
A Guide to the Warehouse Metrics Supply Chain Execs Should Track. ” Skilled cycle counting refers to reducing instances of documenting discrepancies, following up on issues that led to inaccurate cycle counts, enabling process improvement, and taking corrective actions to minimize the inaccuracies in the future. As a result, Warehouse Managers may need to integrate picker performance metrics with this KPI. Metrics and KPIs Warehouse Management
Veridian Solutions
AUGUST 5, 2019
Yes, data refers to people in this case. A Guide to the Warehouse Metrics Supply Chain Execs Should Track. Metrics and KPIs OmniChannel omnichannel supply chain analyticsIn the omnichannel world, supply chain leaders need to understand every process and activity. Unfortunately, omnichannel also means more data in every aspect of your operation. Omnichannel supply chain analytics provide the level of insight needed to succeed in the omnichannel-driven world.
Logility
AUGUST 25, 2020
Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. Metrics. SCOR Level 1 Metrics are good examples of measures that have longer-ranging focus.
Kinaxis
DECEMBER 7, 2015
Which metrics are most important? Everyone would agree that the big buckets of metrics are Service, Revenue, Inventory (Cash), and Cost, which support your company’s strategic goals. In Part 1 , I wrote about company culture and making decision trade-offs using metrics, alignment of objectives, and the need to measure past, present and future performance. Recognize achieving the optimal goal for each metric requires trade-offs. This is what I refer to as trade-offs.
PLS Logistics
FEBRUARY 25, 2016
Resilience refers to the time it takes supply chains to predict and avoid risk, as well as respond and recover from costly disruptions. Supply chains are vulnerable to risk which makes detection time an important metric. Supply chains are diverse and complex – so are the potential risks that could disrupt them. A good supply chain management strategy invests in resilience.
Cerasis
JANUARY 22, 2020
Freight analytics refers to a set of algorithms that meticulously comb through the mountain of freight data to unlock its potential. Recent research indicates the freight metrics and analytics market will swell to more than $27.4 According to Research & Markets, their value is further evidenced by their growth. billion by 2024, presenting new opportunities.read More.
Supply Chain Opz
MARCH 31, 2015
After that, we collect various metrics of each purchasing book as below, - Citation counts: a basic bibliometric method showing how many times a book is cited by other publications. Of course, this metric will not be used in isolation. Fraser Johnson and Anna Flynn 7) The Procurement and Supply Manager's Desk Reference by Fred Sollish and John Semanik 8) The Purchasing Chessboard: 64 Methods to Reduce Costs and Increase Value with Suppliers by Christian Schuh, Joseph L.
Supply Chain Insights
JUNE 1, 2017
What specific policies, processes, and metrics in the supply chain would achieve success in this strategy? Why are we forgetting to define what supply chain excellence means for the company or specific division, especially in terms of business metrics in financial statements, prior to the revamp of processes and policies? Supply Chain Index , brief explanation of the index and more references.
Logility
JANUARY 20, 2021
Refer back to your Assessment — many companies have yet to create a comprehensive digital twin. Challenge yourself to think beyond the traditional Available-to-Promise metric and ask if an action meets the criterion of profitable-to-promise.
Supply Chain Shaman
MARCH 5, 2019
Make sure that the data is harmonized to ensure all data has the same time reference. The focus is on functional metrics, but are unable to get to overall supply chain metrics. The reference for supply chain leaders is an airport control tower. Carefully design conrol systems to compare reference data to control theory.) We finished dinner. I pressed my neatly folded napkin to my lips. As we waited for coffee, silence hung heavy in the air.
Cerasis
NOVEMBER 12, 2015
Using data in logistics to improve your processes does not necessarily require existing orders and information from KPIs and metrics. Metrics and KPIs. However, data in logistics can be further simplified by organizing it into KPIs and metrics. Metrics and KPIs should reflect real-time information about your shipping processes. Basically, metrics and KPIs are a means of preventing and addressing distressed shipments.
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