Inventory management modules ppt

1 Movement Type Concept The movement type is a key concept in SAP Inventory Management: no movement can occur without a movement type. Typically, Inventory Management Systems are used by firms that either sell a product or manufacture a product for purposes of accounting for all the tangible goods that allow for a sale of a finished product, or parts for making a product. It describes the complex supply chain of a simple product, a bottle of water. The key points about inventory management are as follows: Inventory management deals with management of stock either on value or quantity basis. Backorders are possible. Basic Computer Training 3. The Inventory Management Module provides a complete physical inventory sub-system. It is also fairly domain specific: the database runs off recipes which generate the necessary ingredients. GLOVIA G2's Inventory management ERP software module is a  Aug 16, 2015 Source: Supply Chain Fundamentals Module 5 - Inventory Management PowerPoint document. It’s powerful query and search tools allow you to access inventory information by any or all product attributes. Enterprise Resource Planning -ERP Kevin Cowell Natthawut Lertpitayakun Isabelle Mertha Xiaoguang You What is ERP? The practice of consolidating an enterprise’s planning, manufacturing, sales and marketing efforts into one management system. Inventory management is used to manage the inventory for the goods. Flowchart Description (cont. Functional Technical The management process begins with understanding the needs of the country, region, community, or facility and ends with decommissioning. We can use this software for maintain stock inventory records and sales, order, payment records on daily and monthly basis. It is interpreted as accounting control and operating control. Drug Management 2. Inventory modules contain intelligent  Jan 12, 2017 Keywords: RFID; Raspberry Pi; inventory control and management; a completely modular, open source system with the full capability of an . Chapters 2-5 consider cases of stochastic  With the ERP System introduction, MM modules are deployed which work in tandem with procurement and other modules. 1. By Doug Wallace of Life Cycle Engineering 1. Complexity. It includes planning, entry, and keeping records of all the movements of goods. Inventory management in an emergency is more ‘project based’, matching supply with demand in a rapidly changing environment. Introduction. Also provides the management reports like monthly inwards, monthly Warehouse management (WM) helps to identify the stock status of a material at bin level. § The inventory management involves a trade off between costs and benefits of inventory. The Materials Management (MM) module is the business process area that handles daily activities of a business such as Procurement, Inventory Management, Materials Requirement Planning, Master data (Material and Vendor), Material Valuation, Vendor Evaluation, Invoice Verification and so on. The inventory module deals with issue of goods to production orders and quality management checks the quality of goods produced. Inventory management deals with the ma nagement of materials on a quantity and value basis, including all internal and external movement of goods in an enterprise, and the planning, entering , and documenting of these movements. Level of customer service: (1) in-stock ( ll) rate (2) number of back orders (3) inventory turnover rate: the ratio of average cost of goods sold to average inventory investment Inventory management is about knowing what you have in your warehouse and where your stock is located. Capacity Planning & Demand Management. This requires building a supply chain that has a high level of flexibility and adaptability, with rapid identification of need and rapid fulfilment of that need through the supply chain. 4 1. Its three main areas of concern are: Acquisition. Every organization constantly strives to maintain optimum inventory to be able to meet its requirements and avoid over or under inventory that can impact the financial figures. It is a tool to assist in processing all goods movements and maintaining inventories. Defining PeopleSoft Inventory Business Unit Attributes. Pooled Procurement : ILHZ /Provincial 13 a) Use of Stock Cards b) Inventory c) Drug Prioritization through mixed ABC/VEN analysis 14 Targeted: pharmacists or persons-in -charge 15 a) Excel b) Data Entry In this section, we will see an end-to-end process for Oracle Inventory Management, as follows:Entering receiptsEntering inspectionsDelivering goods to the This website uses cookies to ensure you get the best experience on our website. Termination. Describe the functions and costs of an inventory system. We have already done basic goods receipt process in the purchase order topic, referencing it to a PO. Here we test and compare nine inventory management software packages so you can pick the Inventory management involves a wide scope of processes ranging from inventory forecasting , replenishment, demand forecasting as well as quality management (Wikipedia, 2009). SAP Modules. And, of course, if you’ve seen a trend in the increased use of outside storage space, then this can indicate another ongoing inventory management issue. Using that unique numbers inventory system can keep track of item and trace its current location in the organization. Discuss the objectives of inventory management. It also updates the inventory based off of the sale of those recipes. Oracle E-Business Suite. Inventory can be stored for later use . Sign up for free. This MM module contains many aspects such as purchasing, goods receiving, material storage, consumption-based planning, and inventory. Distinguish between independent demand and dependent demand inventory items. Defining PeopleSoft Inventory Business Unit Display Options. . In other words, have the right parts at the right place at While inventory management can be a standalone application, typically the software is bundled into warehouse management or supply chain management systems. SIMMS Inventory Management Software makes the difficult task of percentage price discounts based on volume purchased as simple as 1-2-3. SAP Accounts Receivable. With the advent of e-commerce, the growth in the retail sector has been impressive due to the advantages of economies of scale and business expansion across the B2C (Business to Customer) and B2B (Business to Business MM (Materials Management) Add comment 10|10000 characters needed characters left characters exceeded The Inventory Management module facilitates efficient inventory management in real-time across multiple warehouses. This ERP inventory management module is used by retail, distribution and manufacturing and tied into retail merchandising systems where users also manage pricing. Fine tune inventory management and optimize service – with powerful software from SAP. This field links to the . field. Inventory Management System is important to ensure quality control in businesses that handle transactions resolving around consumer goods. Monitoring and Evaluation 4. Determine the order quantity. The SAP Logistics function incorporate a number of distinct areas that together follow the movement of materials from manufacturer to consumer. This article evaluates the premise of demand adherence to normal distribution in inventory management models, showing that this can lead to significant distortions, mainly to stock control of very low and low consumption items. 1 Combines all databases across departments into a single database that can be accessed by all employees. Integrated Inventory Management for Maintenance, Repair and Operations (MRO) Materials. FDM4 ERP Inventory Control module is used to make direct adjustments to warehouse stock balances and costs, to transfer and configure items, Inventory management is a systematic approach to obtaining, storing, and profiting from non-capital assets (raw materials and finished goods). Take the last 12 months sales at cost and divide it by 52 weeks and then multiply the answer by 6. Items can be identified by unique serial numbers. The airline flying with empty seats, cannot Release 3 Modules Facility Management Computer Aided Drawings/ Facility Inventory Customer Support on the Web Materiel Orders/Catalog Search/ Work Orders Equipment & Technology Management Life Cycle Management of Equipment Stock Room Inventory Management Physical Inventory/External Customer Support/Quality Assurance Assemblage Management MODULE 4: PURCHASE ORDER MANAGEMENT Module Overview Timely purchases that are made at the best price improve a company’s inventory management, reduce costs, and have a direct effect on the company’s ability to satisfy their customers. The inventory management ensures that the company always has the needed materials and products on hand while keeping the cost as low as possible. Inventory management is vital to business success in the retail and manufacturing industries, among others. The right stock, at the right levels, in the right place, at the right time, and at the right cost. It provides the interface to users in a graphical way to manage the daily transactions as well as historical data. ) Inventory Management receives 4 different reports: Inventory Status Report – A report that shows where you stand on your inventory. Increase functional knowledge of production and inventory management, improve internal operations and increase customer satisfaction. Obtaining the best price depends on the company’s ability to record price and Inventory management helps in maintaining a trade off between carrying costs and ordering costs which results into minimizing the total cost of inventory. 12-3. Goods movement creates a document that updates all the stock quantity and value in the inventory that is known as the material document . Inventory management is the process of efficiently monitoring the flow of products into and out of an existing inventory in the warehouse. • Track both nominal and actual volumes. Whether you want to add/remove new fields, modules or even change the business Innovapptive's mobile inventory application enables users to perform   Material management is a scientific technique, concerned with Planning, Optimize inventory management through scientific procurement procedures. Introduction to Inventory Management 1. It is based on several key processes. The acquisition of supplies and the proper maintenance of adequate stocks to ensure   Manhattan's warehouse management software is a highly-mobile and flexible Slotting Optimization and Labor Management modules that improve product  Real inventory management is at the core of supply chain management brilliance . Inventory management deals with the management of stock, either on value or quantity basis. maintaining inventory over a certain period of time. Discuss the concepts of Financial Management. Shipment Methods Customer Area Inventory Management (CAIM) •The system supports multiple replenishment processes •Screen entry •Automatic from Point of Use Systems •Hand Held Terminals (HHTs) •The system supports multiple replenishment processes •Screen entry •Automatic from Point of Use Systems •Hand Held Terminals (HHTs) Inventory management in an emergency is more ‘project based’, matching supply with demand in a rapidly changing environment. To maintain an even flow of production; ii. In a systematic approach to inventory management, a financial manager has to identify (i) the items that are more important than others and (ii) the size of each order for different items. Definition of movement types, reservations, goods issue and goods receipt. Apart from that, it is integrated with SD, QM & PP to function as one ERP system. Before you begin this course you should have taken the Supply / Inventory Management Pre Assessment. Overview Of Inventory Management:-Inventory management is used to manage the inventory for the goods. This document can be purchased as part of a  Apr 27, 2005 Smart Inventory Management System antenna array to a single RFID reader to map out an area for inventory detection System Overview. Inventory control is something that should be front-of-mind for anyone in the wholesale distribution business. Auto generation of emails as soon as the inventory manager or sales person or sales manager is required to send a mail to the administrator , intimating if any problem occurred due to their work. 2 ERP automates the tasks involved in performing Inventory management is a systematic approach to obtaining, storing, and profiting from non-capital assets (raw materials and finished goods). ) Inventory management is a very important function that determines the health of the supply chain as well as the impacts the financial health of the balance sheet. Modules in MSDAX that use items in incoming or outgoing processes, such as Accounts receivable, Accounts payable, Fixed assets, and Production control. View its tables, transaction codes and PDF tutorials. Inventory Management in SAP (SAP MM-MI ) deals with goods. Inventory Management – PowerPoint PPT presentation. The term Inventory Management refers to the process of supervising and controlling of the stock items for a company. JD Edwards EnterpriseOne Inventory Management Integrations Introduction to JD Edwards EnterpriseOne Inventory Management 1-5. inventory, the risk of losing a customer is lower than service organization. SAP Bank Accounting. By then end of this module, you will be able to: Describe the functions and drivers of inventory. Inventory management systems are somewhat simpler, in that an inventory management system can give you an indication of the total amount of stock that you have for one specific storage location. Establishing Operation Closure Dates. SAP Asset Accounting. INVENTORY CONTROL • Inventory control is the systematic control and regulation of purchase, storage and usage of materials: i. This is an extremely important aspect of inventory management that many people overlook. Pooled Procurement : ILHZ /Provincial 13 a) Use of Stock Cards b) Inventory c) Drug Prioritization through mixed ABC/VEN analysis 14 Targeted: pharmacists or persons-in -charge 15 a) Excel b) Data Entry What is inventory management? The objective of inventory is to achieve satisfactory levels of customer service while keeping inventory costs within reasonable bounds. In service sector it is very difficult to anticipate the exact demand of customer. With SIMMS, you can assign up to 12 unique price levels to each item then of course, assign a price level to your customer with ease. Perpetual review systems Concept of Inventory Control: The term inventory control is used to cover functions which are quite different and are related to one another only in that they both require the maintenance of adequate records of inventory as well as receipt and issue corresponding to these two functions. Objectives and benefits of inventory management. ■ Two weeks is one half of the order quantity inventory value. Our software can be scaled from large corporate dining all the way to small privately-owned restaurants. Your company or a vendor can have a preference about how purchased goods are shipped (such as Cost and Freight, Pickup at Location, and so on). The Supply Chain Fundamentals Series has 5 modules in all as below: Module 1 - Forecasting - 73 Slides Module 2 - Aggregate Planning - 28 Slides Module 3 - Materials Requirement Planning - 36 Slides Module 4 - Scheduling - 43 Slides Module 5 - Inventory Management - 69 Slides The 5th Module on Inventory Management covers the following topics: Independent versus Dependent Demand Costs associated with Inventory Order Quantity Strategies Determining Order Quantity (EOQ, EPQ and QD) Inventory The major activity of Online sales and inventory management system is to provide online communication between the users of the system. Imagine what that does to the working capital you have tied up in parts and your return on capital employed (ROCE). ■ That is a total of six weeks of inventory. able to achieve an inventory turnover of 12 times a year. As inventory is received into and sold from multiple warehouses, the FDM4 ERP Inventory Control module is constantly updated via the FDM4 Purchase Order and Order Entry modules. Inventory management deals with placing and handling stock received from vendors in correct place within company’s premises. These goods are maintained on hand at or near a business's location so that the firm may meet demand and  Apr 17, 2014 You can use Inventory management for inbound and outbound From the Arrival overview form you can keep track of expected items and you  Oct 22, 2017 This topic provides an overview of Inventory management. Warehouse management (WM) process are initiated by inventory management. It also includes a report widget showing pending asset retirements for the current week, month, and year. It deals with the management of stocks and goods movement. Material requirements planning; Inventory reordering tool; Evolved to support planning; MRPII extended to shop floor control. Effective inventory management can influence price points. List the processes and procedures for financial monitoring. Effective inventory management Effective inventory management is the result of outstanding inventory control and inventory management. It is very difficult to predict what kind of service or queries or problems a customer will have before the actual arrival of customer to service organization. BAC members orientation on Drug Management 5. This ebook will introduce to you the various features of Inventory Management under the MM modules. Procurement & Inventory Management. Budgeting and Monitoring. Structuring Inventory Understanding Inventory Material Storage Structures. At the end of this module, participants will be able to: Discuss the high level overview of Financial Management. There are different pricing tiers for businesses of varying size, based on: Number of users. It comes with raw material inventory management module and final products inventory management module. Please Note: The Intro to JDE pages on this site are intended to be brief summaries for JD Edwards customers who are encountering JD Edwards for the first time. 23 / Inventory management 23. A CONCEPTUAL FRAMEWORK FOR INVENTORY MANAGEMENT: FOCUSING ON LOW CONSUMPTION. 3 Managing Inventory in services versus managing inventory in manufacturing sector . As an example, use sales at a cost of $25,000,000 divided by 52, which equals $480,769. The Asset Management Overview module displays widgets showing information such as configuration item by manufacturer, computers by manufacturer, configuration item types, and asset information for a specific vendor. Discuss the concepts of Business Accounting. Microsoft SQL Server Analysis Services. Shipment Method Code . The book is divided into six chapters. The stocks keeping is managed by the quantity or the amount basis. Model: An abstraction/representation of reality. Inventory Module: Inventory module can be used to track the stock of items. ppt / . Oracle Inventory Management is part of the Oracle Logistics solution and integrates seamlessly with other Supply Chain Management applications, including Oracle Warehouse Management, Oracle Order Management, Procurement, Discrete and Process Manufacturing, and Oracle Financials. (how much inventory you have on hand) Inventory Usage Report - How much inventory is being used at the current output level. The major activity of Online sales and inventory management system is to provide online communication between the users of the system. According to Stylus Systems, The 3 main objectives in inventory management are (Stylus, 2008): SAP Inventory Management system allows you to manage stocks on a quantity and value basis in order to plan, enter, check goods movements and carry out physical inventories. • Efficient material control reduces loses and wastages of materials that otherwise pass unnoticed. GCLP Training Course Module 8. This article helps you learn inventory management process with visual flowcharts. SAP Accounts Payable. OVERVIEW. pptx), PDF File (. Actually the process of Procurement starts with collecting the business requirement for goods and goes to getting the goods from Vendors in SAP MM. 1 Introduction Inventory management is the heart of the pharmaceuti-cal supply system; in fact, the nonspecialist might say that inventory management pharmaceutical management. SAP Modules Integration SAP Modules in R/3 - SAP R/3 System is divided in to various modules, each module has its own business task. It addresses all of the manufacturing production needs from raw material purchasing, Economic Order Quantity (EOQ) raw material inventory management, products build of material management, INVENTORY MANAGEMENT By : Kuldeep Uttam Production and Industrial Engineer Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. ( Material Management) Module 23 Master Data Materials master data creation It consists of Description, allocation of code, Unit to measure, Category, Unit weight and Gross weight Storage area reference Re-ordering level Inventory management refers to management of level of these components. The right stock, at the right levels, in the right place, at the right time, and at the right cost. Inventory management facilitates maintaining adequate inventory for smooth production and sales operations. This User Guide will help familiarize TLS employees with the OnTarget Order &. 3 23. Inventory Management is part of the Materials Management module and is fully integrated in the entire logistics system: Material is procured from external or internal sources on the basis of the requirements Inventory management in SAP is an important component of MM module. Module 3: Inventory Management 4 Inventory Management The process of receiving, storing and ordering supplies to provide uninterrupted service. From an operational perspective, the primary goal of the Materials Management organization in an MRO environment is to provide unflinching material support to Maintenance and Production. Purpose of SAP Inventory Management System. However, unless it's integrated with your back-office systems, an inventory management system alone can't effectively optimize your inventory, nor ensure the inventory asset value on your financial reports matches what is physically in stock—at least not without manual intervention and reconciliation. First, however, we need a more in-depth definition of what a moveme nt type is, as well as an understanding of its importance in inventory management. To avoid excessive investment in materials. Price Levels or Volume Pricing and Discount Configuration. Inventory Management Objectives Good inventory management is a careful balancing act between stock availability and the cost of holding inventory. There are four components of the module that you can leverage to conduct quality assurance and develop relevant action items. There are a number of functions and transactions used in the Inventory management processes, and we will cover the most important in this tutorial. Inventory Management could also provide your company with an additional edge over competitors that are unable to access the same strategic information. Number of devices (client PCs, barcode scanners etc. Number of locations. If you continue browsing the site, you agree to the use of cookies on this website. Inventory is defined as a stock or store of goods. Production order control: This functionality is used to carry out all aspects of a production order under different production environment such as repetitive manufacturing, job shop manufacturing, and assembly line sequencing. The module is fully integrated with other modules that are relevant to inventory management (MM, PP, PM). Logistics is the management of business operations, including the acquisition, storage, transportation, and delivery of goods along The issue of locating specific inventory is typically tied to inventory discrepancies. It shortly represent as MM-IM. After completing this course, review all the modules and test for the Supply / Inventory Management Post Assessment. ERP SCM ERP Supply Chain Management ERP Materials Management. Redeployment. Practice change It’s much easier to identify an inventory management problem than it is to fix one overnight. Inventory Management is part of the Materials Management module and is fully integrated throughout the Logistics system Material is procured from external or internal sources on the basis of the requirements determined by Material Requirements Planning. the Inventory Management module can help bring about the formulation of new or improved purchasing policies, sales policies, pricing methods, and even enhanced customer service. Smart Inventory Management System is an online software application which fulfills the requirement of a typical Stock Analysis in various godowns. An overview of JD Edwards modules used to execute business processes. Sub Modules of ERP SAP FICO (FI and CO) SAP General Ledger Accounting. Zoho Inventory is online inventory management software ideal for small businesses. Before you can use Oracle Inventory, you must define one or more inventory organizations. Cash management. lumberTrack also allows you to: • View inventory by volume, length, weight or units. Definition Inventory Management is an enterprise-wide discipline concerned with the identification and tracking of Information Services (IS) hardware and software assets. This preference is shown in the . Inventory & Warehouse Management. Introduction : Inventory management system in C# This window based stock system software used in any kind of shop like any grocery shop, any electrical accessory shop. The JD Edwards EnterpriseOne Inventory Management system enables you to monitor grade and potency, which is crucial in industries such as food and drug manufacturing. Some refer to it as “internal control” or even as an accounting system set up to safeguard assets. Like all other lumberTrack modules, the inventory management system is flexibleand easy-to-use. SAP MM ( Material Management ) is one of the important modules in SAP ERP software and MM application module supports the procurement and inventory functions occurring in day-to-day business operations. An Oracle Inventory Module is a facility where you store and transact items. 1. 2 Find the query of Receivable (AR) for the Invoice Number (TRX_NUMBER) Wise, Customer wise, Sales Order Wise, Transaction Date and GL Date Wise in Oracle Apps EBS R12 Part 1 of 12 - This module introduces viewers to the field of supply chain management. inventory management. Inventory Management 1. Customer Service, i. Number of orders processed per month. This includes physical inventory tags, missing tag list, book versus physical inventory, and automatic reconciliation of physical to book. 10. A physical inventory may be done for all warehouses or for any set of individual warehouses. Due to unavailability of facilitating goods or materials, the service organization may lose a customer forever. ly/2xU12Vs The retail sector is expected to dominate the inventory management software market throughout the forecast period and secure a market share of over 40% by 2024. Oct 28, 2013 Outline Elements of Inventory Management Inventory and Supply Chain Management Inventory Control Systems Economic Order Quantity  Prepared By: Ali Siddiqi What You Will Learn Purpose of inventories Objective of inventory management Types of inventories Requirements for an effective  Discuss the role of information technology in managing inventories. Zoho Inventory is an online inventory management software that takes care of your inventory, purchase and sales orders, and warehouses. What is inventory? Inventory is the raw materials, component parts, work-in-process, or finished products that are held at a location in the  Inventory Management & Model Theory. Inventory management is all about having the right inventory at the right quantity, in the Here's an overview of some of the most common inventory formulas… Purchase and Inventory module is integrated with the inventory regarding purchasing and financing of all construction materials, equipments and other  Nov 3, 2009 Manufacturers can use ERP inventory management modules across the production cycle for functions such as shipping, logistics, orders, billing  Lacked supply chain support modules (added in second generation) System checks the inventory record for each BOM item to see if inventory is available or if   Getting Started: Overview. Table of Contents. Dynamically link customer service goals with inventory investments across your multistage supply chain – with our inventory management and service-level optimization software. is That would be simplistic, as the other chapters of this book demonstrate, but without a healthy inventory management Inventory Management Systems is a key instrument for businesses when tracking their inventory. Through the CPIM preparation and exam process, you will gain knowledge, learn skills and best practices required to execute, control and improve internal operations within the four walls of your company. 23. Balance inventory levels, analyze crucial inputs and signals, and model the impact of decisions on global stock. Inventory Management Software Market to witness 6% CAGR till 2024 - Request Sample of Report @ https://bit. Discuss financing and investment decisions. Maintain cost-effective production, optimize inventory levels, and improve on-time delivery with the ability to track and record all stock movement. Typically, inventory management software is priced according to a number of factors. Setting Up Demand Priority Rules. txt) or view presentation slides online. Setting Up PeopleSoft Inventory Structure Tables Inventory management can be integrated with the following Microsoft products: Product information management. , Stock Availability Inventory Holding costs • Service objectives-Setting stocking levels so that there is only a specified probability of running out of stock • Cost objectives- Inventory Management Involves Knowing…: 9 Inventory Management Involves Knowing… What and how much stock you have When to order fresh supplies What and how much has been ordered, when it was ordered Where all supplies are stored When and how much fresh stock was received, and by whom inventory management. The delivery is entered in Inventory Management as a goods receipt. Order Management. The important SAP modules used by organization are FICO (Financials and Controlling), MM (Materials Management), SD (Sales & Distribution), HR (Human Resources), PP (Production Planning). Number of SKUs/products. Inventory Management System, part of a  Sales, purchasing, production, transfers and adjustments all have an impact on inventory. Describe the A-B-C approach and explain how it is useful. Inventory Module Setup in Oracle EBS R12. Inventory cannot be storedalways . Introduction From an operational perspective, the primary goal of the Materials Management organization in an MRO environment is to provide unflinching material support to Maintenance and Production. That is knowing, what products are "out there", have much you have each item and where it is. • Inventory control involves managing the inventory that is already in the warehouse, stockroom or store. Inventory Control. One of the primary differences between inventory management and warehouse management is in the complexity of each type of inventory system. • Inventory control is the core of materials management. Describe the basic EOQ  Inventory Management. A good inventory management system will alert the wholesaler when it is time to record. e. Learning Objectives. Inventory Management Page: 1. Inventory Management In Microsoft Dynamics NAV 2013 (HOL) course. In between, the process consists of good procurement practices, appropriate donation solicitation and provision, logistics of delivery and installation, inventory management, maintenance, safe use and training, and measurement of clinical effectiveness. Purpose is for prediction; Develop understanding about real world  INVENTORY MANAGEMENT ppt - Free download as Powerpoint Presentation (. In the simplest of terms, inventory control involves having greater oversight over one’s stock. Industry solutions:   Nov 14, 2017 Logistics & Supply Chain Overview. pdf), Text File (. Without proper inventory control, a large retail store may run out of stock on an important item. Chapter 1 deals with inventory where demand is deterministic. It means Inventory Management in SAP MM (Goods Issue & Receipt, Reservation) February 1, 2017November 19, 2015. Discuss the basic workings of two classic independent demand inventory models: Period review. inventory management modules ppt

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