ࡱ>  )*+,|za3x!tV$d( `!.(S3?MR17 hIl HxWoTzͶې@hC7(@uRnC/ublorq8 */rDT)y o?f_J*l_U8J_mw7`!F.7YU٨/ٿd;AUJ(BOΟNCwB3n%JI9xJ<ޛǣQi}WO\gN=&n=FLYEFm#P/ JAfCijk#9?fuu{r݉0c|*X*PĨteZm<LhA_d!sC 49 0thVٌ4IGDϚp[ n{ܖ$\$.Rxm1_MD3Aױ-{ zYo0Gy<+<:LI#ǎŴ6JI\h|X]]5!tq̊p-穾c)@h rqۺnϿvD !t x nmӠRFV^^/n,[GjX1 ǠM F<#N|& rA0t} >~0#⇰E;{6ΉlUVAqHgW챒V,Ċ}tWϤ؛D3-mL0^kb4^k¾Ey8Gh]hCw iR;A1g&=edfDbN5Q/\;8#Y"!TX_K46ql#/j9+_ܸE X l\ukjѐVMT.xqKeQ-QMtXedyɣZV`ݷ'd IWv`Jճ%ѽYx8NY+t'd =*&5φ"φwwMiM4r]P+;ſ:{A=$fߞN_'|ndAYV1Zv_j륏^-q/حKwJT%ڶY-e{@jO0 %B- f=J;$‡zzWR--DZk{no/-<kBԸKittmfO HHɍ 09Y V+j{>#ϵ R^qkaƚM黎ckKՁ;h  rGW@r,Ê!qH^2a!<"9 |!q$r RqCZHӝt )RoW?܋EzC}||}澙H_Yo7K|*?ZgVYG! *_%9&e?|]/ p+|]H_w|ml^oS+lzOWvC0L >Rɂ+JT*/Ĩ<2'\d(O:JҚ/1^Zb`r,:go݉`J;Ym{v)aߛ8iFMkҸ+n"\Jm F`zJ+7iN$O._˳/#_W~V,L#KpjlWt]tftM./yK .:bZG0EBow P]"du!;!0|{ Opʮv)3a?Ave,[b096-̶0ji ٫<Şox؝HJb0”h~u.,03ᮊijo\}S55\ku6a;ļ;\K!z{άf6osڅ]bnknqU]ٱ]~5Zrm(q-mE bpLmG#iaW8)n.bs2Q|SM.̢fp0>58͉L8'699IeVؐaD8*<}Jj $JdFPN%0T\Q/g*ivFN9cp&!S:˘I{azW^Y4T'0[SJZm+ۖm.+Qi:ٹ:]S%:Ԯn6٫/9_ sUO7@D0/tmF2unI3Q:I%0xǴb!^,3 <ĜJE3| L_Kl/yKg<F?g3LW>3_,5%Y_ T5Y5L@S?i41̬@g4nF́fG`i.|avۭvc]n9+vrs\@+50}8 qUx 0I2 ?3W'Nt?~/]tR?574ŏMI?=ggg?ᓾjW'r'_[Y}87y7Wzy[{빜3xYyG5^'w՟VPXLJ4:tft>к4(]@7Vm@j0^),ORSC!1#կ VVa:ʣsbUt'PS^z靪>jFH AԤNd:RЙ*㪬ޡ5^骭`=EM\ѭ~nT= oҿ=y+ 7 y!kID3޻Sa< ^^!}ɹ=S^R~o0 xBKPHt<{yۘ;9MݛY^u^bL}ɼl+~u[|7LWIC7\o|}oalwb +1EoDz:/=> 4\eT:tR\2NōnQpڈ{Jj\V#;:p)(80DH 9t <Kk8bC>97>{yȮoǸ*b|s}/9 [N!9'TsƅP BS 87 p>`8>\䄀\*rM(u 7 ٹrr']wB [ɷz c6 #d7HNB\u ,Ds8 /"2&H%KO]t>TʨL*ꪟV-TUArm*^=ERg:j7Ԗ^ԑJ=g T+ZeŬZ-] blaUՋBFNwSt"=BQj'˹+\nhL\AYTRKBkE>VőH=';1Nvq'ӫEr.5}ޛVy }֪ ThC߫4[MEj5-Qi%gk,RDm3QTM/Q~urRFAVJVїj0ҫEvvJvTQZ*zy1o©;6Л)З B? ) P/G=t;ENq:ĕ磫+|Ƿ,ƂC (~g1'\Ƽp =,FV7ILrg7~WG+ǻ]!^rlG L:F(!Lr[#m)>gۀ7۶ƆN;ɢ_ȿu|8?W_wz&w6|!ʖk֠]zCR2A nTw,X溵2` t ΄ :H B"\iq*1PBVR54vMh=.Xz`%7f cJѧ\%Bc `qȁ5vtd 7ص(WbciHAV2#@*| 9#wͅ6Ɵiew=@x,§0/_ì3{))R('DRr~$s^nLeaԄ>[;ô6zZ Bh9M4:K*V@gҼNJ{( TOPe>Cש6:Lx*Or הQ ?Sb޴-TUJͤRRߥV|Ajۄ2ڋ RNԔ[TkRM@U/BEG>y(H|*@W+l ŃQY՚kDuORojnjT9$$ 4}W8rZB}xZMn%y#bMn0/p%RsW;]rϹ{ %BK$} a.S/ !8[T"RV[*\ḭl^0Îqv& ?B%`CSٴ-zq]][*=K*b;ʘyn?9Z0&cRj&c鶢ooflfnZe>& 7/vh 30Ĕ2P0sVYCM?11%yIσ#oNS?te©HSMSdjyS^Ϧ6d_{gݍ5蹙 Dz+tMp3]>RQ-{.xeUa_Yjjnr[Lb6˹'=^Npq[Ux,\HR/DϋmjǬPRQl' u0V QB,MQ$Etͮ(F"Q SQ!"pն-Kzlaj/4PI%DW|MmvcD^I+eN&Ô0p)s놺n[6NiXd=)ֻJR^Fs]AWuE\Neu!.{e36ݏTftmfWĆ6Kiss{eʻ{lq'MswtpLoVnn&#nF?ILvj`{ 2 tkVc +X<& xTdܦe7)̴3)YD)fJfQs*k ߔl0W0ٹI}L|dܦ7(h6Q]NY,*g'R3;A46 O$FI͠Qn>-t+h[Og6zωO]x ^TQ)Iqȁ폟w,9]k3Gy! 'w>QF(3TEQEQzw>0&#jֺg=y_&MpWhڻ;I1S:A2v={Ed"&M4Lt}/ў(C>(}G l<٤LZ~o ˎTG.?5L/;c!XjrIۅؖp['"f6ﱩ9¦6qeorǍy{_gQO>'i=Hz[=I3ԍƛu1p\C;ʧ_Pr}PJCtFmj%-U{5&14CjVhDtART{[Q*݌KMu *+S]”S0FiuZJQ<)>(EOś#So0B-)Pqz䌐 hCUbRQ?%jT\*=1d琉Bf:YgE&@6 T rP1t%j _S;h.a'}i2=9 V1H`7ݓx%JnQ@=$#eT>Ϋqa3cNo)F^{^ML}+XY8ۊ[Kx})8u5Ao6=阮R7*IC#h MCsi?hCx?/;u'~??tW;/0tv ]@<ڥ x+.pfm akذ@754m@E[ P El@2[2˖ McS*p7{L&& ,6Q9fvIiojǙ"&m|ἰGX%L1P7d7I| {3o~0f7Ō4ěn*y3L5om5CwѴ"MWŷv.*v絵G7^ػB[k?z;-XK6}Yk/{%p=rwWrpw~&tRо.7ΕpnkV]2;?KOXsd6ގ񿶳U'v߷mw%}.A\CiU%wrO|o;2~sQ^[]?.[ﱫW{ xlλx]\S/.Jq6HwḤwnfnz_\+}}O˫/tBG:ЏkS%!wʎU)\U{\b57xTvSBa2}sGX^FMcuZ6t_"3]tXw 7уhC4jR/F轴Y ~Kl^(r/ $,/.%6ߖ3:WJr^_aÍ|Y/)zpIٲfRB: vٽ2{c]os$Vt=n7z ^g7kfxMLPM^y+-ϔq$]@taRN>$R{q]./+etd}es߉epһxnvnvwvvnk d}R'w&~-{dym?oKǼɗI[/)6ڲ 4ܛi$':^fk/"kz?\/o žb"CPMTy:* U鰞JUg@ED%,.5v efW6<la8lK.[6ؚ63` zbB;{ZY-l2WMlmvV _QB UL ݔU=Mh}17k/t~]+9a5S^nɝ 6ɸrnSW:QѴ*1%iGWa-L%]}5e3ﵛwɘ <Vw`;W G0\n]r+5şW8U'jXm/G5 cV  ,×xRx-XV(Lv ?1?Ǽ q-?_Fq$Xn`O28]rSwfQ31TO,ZbyU VR=#M@N;Vz>H?Yմ1VŮػ}̓3l Ĵv%30Sntj쒿{$1-ǂI8Ge{"'l~9]S.VRĴN]jV=jꈪnS궊O wOӚ8z#x9~cy(.T0ʄT.T1BuZ (?8l5-ȝ1 7J~3P~y>לm2R ŪPʀŁR/x?mv~Lu>F,Њpt߱C!bBX$OXz;H )>L$&ΥR>} THߢȇT@?3)NYIdZT$vS<}BuYڹ@NvQ;33sĆ9(?YߍQLbKTx=<)V&pg+GNpF8$Q.]޼n/rx?qO%z-ݛ\(RB \*HA,M-QPz/NIV-M$ jmk{K4Ҏzv"TCdH {-}2D#pK8l7swL6u)|0=0饹H@IrdR>;T.fv%ukiO?ဤ蝝C(*SSגڸFա>2 v%hK]fR~fBxȝSn?^t%Xw|F 7?^3v[al9YÆF>;Gg"ƙa\7pŹf`fKlHCʼnS'Zyj=~X`[xUeoJ|a0ւN5|uy4<JdovƬ0V]piCw!Hwvdroϥ7Jzkɽ}%zۦG{3kc]Q(HqAϽY#q]}Þ՗F}.z70xz}j^"kI>Za=N-vsᴝ%4l'm;A{@;HC!$Tu9:X}vSWqy]c@4Ax7.Z%5l333C3sL1cfff[Ruֻ̼5EjJ*}U^ @`AI  (E?}AK%5"+qDՆG99 d 7Bz(\ atTC> ‡4_VU ,^>]$e eKv6SKbj[WW?a%[I;VZ.'~}?О/7ԉTp2jrWpYhX}vAnqκsAe K˅׍z.aAagoz\Xr3>,Lk62:)afD>'i EòRmA8۟i;i;V ih&݌0̭ݩ0݄M8͈C<8-cZ8mA8ݝ܍8=ЕbJ,vKrB,pr1=.&(ז4[Jpɚ Y̝+3[dlIs5׉irbY0'Idw[E4Vr'u;.h XV*iJXVFVtVKJ*#Y79Iܗ1?&cl s QyʊTJܢ2)8D6J!VR\1"d7}Ɩu,D'1 ƨxӌ.1q-M),mrb*D{Zf;Ez ^ jj.\SSa K@+JR;A2Dw<*l('4 SnM?#igMG?'6=ئ ьkпW>W?G:jO_ѓzcR_ b믁@TT'LWwiu[)bDgTr}JUm}HԻlI;z hPL#UƔT5MZUHUjA s=j*A9(n d7uLP$ R0d怟,S~~ZS1G55f7VIS{cyq(WL}ǡp/:1iGf1dLKEs9chogM+AH6&~]F?_$[d+lǶ:E~;?3K2&}_d_OOvOJ9ߝ$E\pVU5g}p-Ǯv_eWvrfOYl`}+/{ [0\cm1ݷ7c{ = ;yn3枝\j}7ڹW#c=YUv)n VZۂ֌ '&{eܓ-sNK y2YЖ|}[.aQ_,~`WWS,JA^vQY+ZkBCq|: %g-Y3l eϡ%􆾇^QzF=-]ibv᭡BMpZ^z%ᗧ~A*g4ُF;}cM15*8ef_VbVʪjY% j9&j!5ܤMU*\ &Iij2 sg^ofjf]f>t´֗Lu}oLrKG*VyiBcUjSR$zp(z0$ ͂P*x#!4>%ǿcgUL™(2Nl6We.ZkZ3)yl6T~k2+-  pj"SGX_D{Ʋ:OV5*wRNiT_HY8B$Y%qX5 oEH~q؁HA1ogM CE10J܁i2SD642= k%wRNX~6K}`+!AHԆ"+.ti8LZ/F~ўΈ(EwE>z$(@ e*$RٕFѴF.r}g(X_B_+L+& :Cz{ /Bi0S ;38+s9'\s]O}3X݊EܹXeX-5$X{ڹ۠;p LpSLW"pwr>>v8GC'܂.v?)ae޸[[w5fҴq˚Bn͍d;ofly:3\p:/v#}Ϯ/gkzUSv\]vud?W/kuT-6!BY=T,z'+S2Z!S2j.|7G ވ68 k`LÂb`0H >Ag16h"UWq:H/qDaVuKP.jS5iLM?U_]6ɲ'm\Jhty*o=7sϷb3$){pQ2DN08"K$shߜoxy۝ 8ٍ͜sSNoCHdo{ ij@{*t5<7-|~F3`zwk%븃`5w;9\]9<\pRY\?i0s $w^Fh쎃n+^8qPs4w w2+ukV7˛\֜uo )溻pכs=hCؓKvN}v>.]Q'rNW';K>~ twnMslc# /wYN6#ܞ[ds &6WW8t_/]Y93 /Bv]}̮b犐lhM0sD`9bhpJL72)wY_A%AM*$c2! VUjZY8k`-RuLŶ\3U:BcEv"Nd&\mvMwv]\v]%#iBByڨ[Tkrnlj̣L*q+x$ΰ>bSDL abFWLAW |?zF{s63!8[USj7VUg0)Gt%ŵ 3KXX)DH.`1=n;T׃CF"XH۱GZpZ+2Ȟ}Z~f6W_J-~{%u5M'0mӴ}x5գTlHAq@PjxlrQS0u`i @o@l>]pV ?ujL U3Bpy߫FC:'ԉqxO4 Y8VkM3aWMj A ()TО=Hh!}`n zA  krv{ ߏ9;bO!%ԆPRAH!TR6Hi GC᫅zc2|!ăe,Pg+(qKx9 uZ׳^k~қ.VYjeXCMokam6u1ݭMܾ gLiV 3lZqR ^mkzK1úYOQ+g%+eU5xgZc^['s+XtJM׭tJDdB=)bL2{Io5&_ȦCjv|Sf*LM[kLsim2mMjnG ATݞ@5TJnAO#4~nVڧ&{mO5^p˼]ܜk=ܰWI~kڬ^鑽g}.۷}'艽=EF)II ։AY&v0vZ~]&s1ŝ*:٨Sj:7g q63S- [PIP%P59ߨz8gh&8si3pZ*mprf'Cr|1m:h8iS93:chv8`S p/Lszl,v) ǜRp dB;=Fܵ#nFcFsJv]H9HޣḌ\m_!Dp[edv~+Xka~i"F/PB6οST=c"pkic8cc:6j{7GՀTp|puJ7sߣ r'e%gF;p5eoB\%٧@/B{EHRԗqp1 dgk# `.~"!-la+`1_;~j9%&&b| Uoy[A|,.&1ܡ C{yW\ӄ0&M8C-5R3/ c 8|Y\m,t<~ ՃT*Ҝ:#;TnU\l YT[ѯck9DiY$qj`G0k%(nbrcf*kkiJ'~C񍞌B|=𶾌w}|_ ?VWx^?=.pޏCjΘyoWk-Ru 1Lt^tv_uB:x|(J"ި*+U[7L7y|tC(j@-0G C<hH}9L.ޛݜHtSv,F!G"@ *4sH#1- 4ԗRtKK? >>&tbB1]Ƨ|x#f{54JF2TL ;0Llq,Zq8l/O)3&#+AWFq8dd4SV78i Dn͂U|o-i"dvi]j}_-V4LaI4ʁFw2?ޓ̃dN'sn \Ņ25f+!T D 1enMf.)d/=F$"^Az`3GW0N< `8 cb+X4"By1ʈPZ2yHDT' 5ߨLM-`yMCE$zPѕV4J4 MalцCPZ)j1֊Ndb??_O>mb'a8 Y.Waxψp/| ^mybSDr-Ud_'A :*Ѓ/ 0BfQ2e/m$}"?4W{H?fZ-gٟђhJ&YvhGDRsiF[ x԰=*VL:̔Mar >r*tKXPWb= MU><5d!Ed &2&v8\j#',xe+_r\+h ;l U "[!UbZe U0_ķ @"+;$RCr+.HctK`ݢYl,vjgl F*T:8[Tǔ%xbV<(lBVn*An6dnn5lV FlSɬZQ5.}}._9]m#[yg3w+ ID3u XGj05c>d >VbQV=oUcN,S̏E`UQfZ`f[QͶ^3n1g k%{4OS4N4ΪIC*CͭT*A%y,JAQC&'2]iD{d=/c^t/M]Δl2dRJ$ML~ O-}cmOzj,ݣP:B(FE&bS SG|6sLqϴ|l7~WQSTD\"9ey)H)DRF I->2r\Yy%aY~?L1&# bFgc<7L"S9c ˬ)ԚXKu[aX_a+!ζ2L0N*4>NZd-N:70k"b'Olbmʌ ,iZdJb-G-r,-t [%\lɫq܈Kf\"wW=^ NWq}s(_cF#KmS-c:qFap\}.G߈Z3>>R\Q_"+⊍"X%b"!Q#ﱆxc,-nc!qSFƄb/d`D{0LB!cob,}WbkձĆ K`J,ɱ&x cbF d ;O6܂pV1we8wO Lb0*r^^@;X9o* x 8se I!ķPCP=;alaIfc^8x MlG{#/b&#1D$c1XUFb3v;q؏\ qwq("5pgb#~z9oBr[܎N\`=*8j\r.p;<8-e9 0>ȡl˱a^XmZa7j112R`/+ ~@%@K&ЊUgk 8k&gwnsW89NQwq#Tcb\O/.PCzޤxڈGhd=%TgPVC?ЉBsQvB~Z͹@!#YOAk m|@;׌0P\M9pU /`KΟH ƀ~w 4)gty8f(S/Pw;ͭc;#Ԙ- NΰΔ&t79B%bRBS"tF;(tIǣ: й.EoV%-5vE4Cm^5PgF}ʠP,IY`yPuEJ U0d[V`oAA~LtDKxqW xqW{z5Wzkz2{###TCTA9o2BQrA^}LJmLJ^=Ja^ C&xkdޅ0C̋h<4< c1jaRxL9/%0K*/Pk&EG: *˴'5#ᥙh߿P@Ot C@}$Y X bc]M!>؆Cx=* 0La̲ Z> ؋܅7xM( P \Fqq"%~Qrl@): |ϷOth D"Ġ&%6)JEM'eRFD& Bz(>$~7Y L?g*@TΜf%%2#5臮@uzSnmQ<_~+*%V)Ȝp TCj-W hOU?ڲԦ$9hNAt,:e4Rfn:B]:T[l?z=VA#4jQe OS}*Q˓P]義j^EȨU`v)2++<8ˎk xKҋא ƿs඿< $C A4 î 1,o# *tp!(Z0)hP%Ye-pѿ[04b ?Sc ?++X^u\Y^#5^^'lua]am{ z "ހ ug0> 7&4ou&;`yLlI J%T^~զl^7M&*]{EgPcOVChЖ}C[mZ{50t5K7E]S'B ˛ ټѫ i‹׻A1]ٛK׏E# їPzLB̳0t m37Cls941\ a 䶶ߡ.:SPI xAm ASC,nӿt}kfJ,^#aO'\/&WRcf{o E?J E~VMi"D\f=J] "-A|=3H6̓"|A9d AB]#@'u8xוT'UZKUPT5[T>C=R-,^:=Z~¾894:ۚ5A/<b{~,(ztT5T=:J]*7Siiñꓩo\3ZOA0 O'\ fk XbKMeTʰoET3:\Ճ5j r`a'ڃ@ 7"uD:{8GXHka -4PKigLuA&5I 0}ګ/,}5TQϢtzY{ dS+C)~D 9F#j.p]d61 3kCl91D#݇ q|t T^z&d𪚊ݽ4fŜ>ucO!EZ\A#'h kukAU&(%xfrA&}>H_4:B]@}WU=PVR'yJ?U|=WГT=\5};5̖;uyu3qЛ;8RLQU4WlRMؠi2jTFԞ>8ޮ?U1%{WΫ됺+:㔺Ϫ:L?n]o ]Z/4=X P[Wt/Zwg)覗NhzK׍C=F_Gtc^׳um]]wUt]]-s:.S2]\׿yMZ yzv MI^%3T>wjb^߹<{*WsGe07TsU^Zק*xc(>ZpZW5PoWSB/R4u[R!O3]T^F6MT7@M2*S_0MEn;o!?SLm}*W-Mi8/B*P_t>PU<1SәxN'*Ŗэ)nyhcVU5K0,^XfnL 2A3:=k a3Q_\Ku+QK 0ส B8%X)p3[ޅOcg?*VWwrq ynj\~8||n/ߋ<.qOjaiuĻ;Q?;׼Wvظ9a$,)=V &g M v$8>ޝ|`7ϱc|(>|JUjks`/4Cl8ڿƱ ?{?_Ю6Q:;LRuR7LtVa4SPM)@7svt_?#{oP(q]Ljnr.So4B.9[|@!mǴXxC]3M8 / ./TQ 8Aa 5ԙ-=̡f0jt* S(LMG4LzA= ԑP4@ g1RCVJY(!dX\5Oǧk;˹mL=e3SJųUlZHfoNYvܥ:m7s6ݴάf0iBKL4eTzqnE+MZo2p\^Z4ܴZ/.0{Ώh 0Ɣ4SytXhY^Ls"mȻxY-.Ԍu3rLe'sm\lym}oN^|{immj=f)Pg F\zYc7R͡av=km)خ!zHMW=ܓK;=i<{m~;w;UpU\+߰IhtO~d/۳EeԕJYF=)zQ!MHhQHD;DtG * s[Β?йltdcAx>NwnH禊w>V/8Ur'WF=ԉFuRFfR%aئ#QXc\at=P'ɸ,64b4~xT5\D* cva66xRD3ADEU PԨ>W" R)LDa^Bb6qYVdH,΀(x^D1:S$XZ]߹Jd(:B.D7G] oHJQ#8p\aN(iTe("UXK?z7k+"tN<w6S.DO zzQgS^Ea} K/V,f,:y^A :lډ|EmZVѻXNdt!`,!H,[4 sudIfQ6c>m]n̤TiTFHA _b?=x WyI(ϩ2,_J7{J9QA 0U!T WjWu깯j!AlX_yu_'0OALJM5!|ܸK36cIJ6_6kgkLך |4pan0NpLlF; r<бi5_8wLȏ8>iJ y#rs-Eaϥ˲԰wUUA;*(m =Bv ]5jۙv |~Y{Bosh+peu9vUw|F2λr/?a}7|.{Mq0%bGXᝇy: ^;^B齢ô76zѺ^eZKG{IwV0k@{HHFNmi:F^<>TL´^7,^ }TyPExTE%UmDz-'zCb奔W7wPEpU1,M WŸA;P0D; _1Kp|8At%D[FG##WnH< J18/߄~PޠkKgSw\H eR598UWeĘ5ȃq*owx_C8_ZV~}u]O:ߪ t^|SII?W"!0NX~ ˏ v4?fy4  E0ݿ =a,G0U I64AB>C"?*Jr&o)A3)b,?!x,yx!Wj,SZeAc=2Қ.wZsk{joUmbrFoW*SFerUY:GU{|WCx8ɆiNL2U|EᚻiuM]vnrZ ̇g쇏Zj)=cZGwfm{u~qK1 kg?~IֈMWJU(+z*[uTqUKL5RUmSUQET9UAEj *I*cFT)V[QBR1uSRCPZ~Q+%U2p̋[e)%k!OxI[r,-gK?M]@B_^5|7|,ޖ /JOFC-{p\K,'GL 8Ap T[R6SM7US~Ue S*%6ƒd]Ƿ";>(gE<$jvQ׊L4y1uqDȈ]EBl/USP5T=qP lUA,RJVlRءԅ\3Ve*E@)q{_e9 CxGb|cv\a9Że&xq hkL,[L6=1- z^7U^kkGy ^9}+?{ΥӅ4f8nM&zAg<~OE?%߆#|(ԟh#1[0ݱ[1:9ȏ'0E,b61 sW,b+G9߱uULYu=QD7u;Hwu//b!V1/8ggzzHBEn[T$GD rN%7$XJ^]䫸HxN\)H"ivYhiٍVi#9i7yhF̗`,[e-8 ;i9 (%r-\'_pX}r?D N>$}mi5,0hή]ت`L`,Cd,;i833?e,p~8 UxD)Oʟ{o:Vv.^;yWyN=ټϦU<rzI [D@ϲ{?oF%^$| k³D%dUo  ȣ6Cz5ҨBMj<$V#!jځ\7~O26hzB7URaTgة:QΫfpKՇG*QA*'( Ч-͇Oh|Hc_C#1!L0s",+l&p;5/q8 qDHkP[Az,4>C Z/$ғ*T% yO0x0Xm^#axE>=.J7 VYNkt$+ vZAh)d JCn0ߋB(d'S,2P2lZjC?XÌ| ,qF>N4x!![YJ,ݐL,e IKH¾Bb3r5`:b-XⲾ,I, edKXVތ򱃬;͊,=d{V!,J 1l*d|vf_,db9uu^H+bivŊÿX)yb']7KvU>n7-IW=uF^ʙƛ9sor>ȣ&9_8g9x:>/>ݷOs Oaԍ}t?=kg]B7^19Y~=Jwgrn/Iӎs?Ɵ''dS~7Y 0Klcl5Ԭ#+lfex6b7(Bld d†mfk /YuxLjDC>ML|LJRЦ< ȗ|Yې4Ӑ\C>+|駼~ˋ<;uCvoEa2/a+bk nUV}LMUyWjj/9$_:. ܢ[FGU_nm}m-tP jT6(kPҠA3.KgLuc 0{?97;q{9QXǙyxn8.=BXΎ4No-笰ZoWǪuCUΨAX۔7~F7+L=_cN!OyzMxuěY^-|4q!8g|8v烰 yw;aIVoMG~G*¶Gv߱fO<;]e d'p,;CIÎbv۰ؔEc=XMrlFX5Y~,+fc0#ITq7 3pC] Sgᄉ8aتj`0@M.jS -TqhBM "TR(Cn2L AK1GޖO)y6n3Z9 ]((ِYvhYViQh^撮f*ߓ,$ $I'4rI)dr|rqSF>NhJ(n< ✦r&5C'zO&C{#Z觢/d2">!2#">$냂xD|35qJD7L+Gb.]ɆVV4qLȸ8TkYRMsVRw:J.SoBUQQOw^1n7E~%H[4'IC"HCI"E &9 IԐI|2s~B~I.wLvd!WOSH =cH&==H;ؖ\d!˰@X'8y 0ý$&IHZD242Ƅ 0+-hy,N`yԤ К؏VNEq́iJ\FCzj=}ip[2zPͣtOOՋNQXՐShUvWYiPyzIʫ[:JM$KҪ$EfR'SO~)o~$e~(@LoewMl]R'RMtU_StzGgP fjt&ά> uQiI!aI*T7o *OMj fII52@]U} {]Kun@mMrBm Im=>_C =J==U ֑jj?@=Wu U LkTJ]>s**" f?6W4:aVS[gFI0@ =3x\VOqz-C_= P:'^<u?2G1%Ĭ 6,*.8[b$vqp;Fa'\d$ 4c5Vo1ǟ/OcP(?)/=E~*dv)^L`v92T^P{C1;TlaMzdA_ȮO얽J9XG z5ܣ3KW t1HmYUH7٘ mHٕ$ٗ̔=B['9&KK2?'32)"s|7:S iʣjwneNV'SwQgn>d&&%O$*LʄFH䄉 [ D.!rg+*ϑ!&s2N~4 Z:OiQ2[')M$vs[V*QcXՏQ:ՀUiPi!/gF֯֬:c P6qNtb=_Th-ɀͫd'dzni^KpbxZHnuE?$Ҽ@TtUh3VSyh UQuh՚&S=i\5:j24ddhnuU'iuWi-u6Qi;uټtW@ӎR+xV{&W]5~Rha^m0qttzywDZKt\˘t֢#%=h A tS;czB)AdMJUM)15)nRM 0uVQhH#!as`("`;a8փXblp = _i,fOi }קi7՛"ҳ}6G3_ii Ojӎ4@rӱ$%N,:|&C'D-dIfj"9N G bjʰɴK =S׀qA7ZFPߠA :MW5u~Ɓ[Sƫt=p|8U`'&Ō9Ƣ+iI3k"%O!xL=d! Ѹ6n$pf HM$N C>O軤~M0mT'mt&QuEE7]uWӎ0L5t^HGtM'tD4JWuQIG,}KRex H1I3iE4 eXZ0XD˒u!i Eۑa3io2?)BG4Irz$H0UdT>#9R^$QҔ4'g7e6c40zô+@۴;yJtha sIJXAfpT \#miljD2#N~IzNBcJџ%s3vgꀎԜ4щNgNRH C]Μܴbo؂C`1q3a΅CrkDf[@vwCr}#_ j+PV_43^x0h<_0Sg>G0:@ɜ0ќь5iJ0ji,NL,~YaU/백&.k˳S5tz#TٌҭX9ݎѝXKݕuӽ ݗ0h{ ~JbMKwˮ/_nw5wY}`}X>lN5쾞Ͼ)!Y*ғ!XR!l !l$yU${`&9 IXN.r6}3 N#͠Wbl=̖!l1ʖlΑbH7v`/(mj5-kުl heT{pt'ܠ+ f(8O3v]Jtad#x@'A7:ᷤ}5 i+66ГV^`$#4ܤow*3ѴfL%aF)Tmxt0H2ސ pL$ v?al2 &0Lnd2"m -+BAvܰN憵67|5_+#l"Q2#酲^*Ur^/r./>,>)2/&+X#dS,#aPuRHb&ͦ~U ZdUUS mTC-Cv:Is]ZWS?}za۴WV@L"jn4 l,,gҥOd2\dYM6J\N]8j (пe[zC֢dIz^gd:zB&e\gQ3D/&w2zOc/Pn7sWDe*:@~#ERG!HK6#dK{K?S NEi_%A@qtHe Ff1o:czڕ͍Naje[]U6 ,L\XOJ&g0фuXFiT1$*̇'dUWec|$[GQ1-T1bNd`mCO[u 8D=ƱNUqKeܨu=hg"O`74kt1RtYDwtYBn^HYDz4{ N0S(Kja:?l*.4PYQeu;ڈjD&SX-ÐZd|l^2 oxJFl4X"bf^(<,r-˳ӬǚyyOV?Ӄ(%b]+%] *?EN:M$Dpq I_EhCڊ*Kx+3آ9s:ӈB:HyepM_Q0o^d3OX G}[zY Z~˯C~k"] ԋãd6:i^~x*o{Cu=o.ש>zrL_}%fS_o(}3&S܉BL%b17ɣAdb*1高)Mf.*~I_cALL3 30f':0^l~bq,׈%򺱤HܛR{3X&omdwU7sx/%>ݫxMJ-u櫽z|WH/#0%]c]Cܛgtgu~זUb\W:6ȋdcl-βu}{yzqU]/ ßz/[nvzlיm곍^ѕazgaN0xnRYDx#>ʚoNWO8 S>*qX|XcXe>a Qvx8*2R,"JȊ% 0%R< ?&LYpb+ c#5pKgXtx1o|:]Zx^΄#Hv(ܗ g;ÍضpևӰuxl.6??Ӊ.^8{.ޘ Y8ܖia,?Z_`0Gz2XKWa,%$~ 8!R/ /U2~1ίz-&v߆뱑~y6 b䬟b:Z94?$ozl~"vȮ}k2 uX(hxP_YgcgWpۿ p௃s9+~70sC3F.8vC$ nB9dAX !+gՃܬQP Aa,U5k|S\1(lJ(̂BX(A{C׃A2[@Ӡ+ ï$̃:Qi܂i kt/ fx6+gmN¦`26Q0;mAԁqA)6t*fL Xd-AqTCƗA8k4,GxO%[/՛l m/~-XӘ>ZXq5Y0(aYW;Z /VЪkZuk.imхK:QgⓔV>C|{~<]^yi^=>n2~fyls`^z.0wI%2^6c< \q6GoSߦ/Q:MZ'h*$`+'b=O4FZi!BV)`V-PƎǻ>>G!52Z} "zP* \JZ X.kEZ|k ]mMYk݊۬4I[JbKV 8c5:YXuYuY{͘0f^4̷jOfM08k[V{xj5Vu|DfJ Oh)2-kߠF1mC~;%@F}'0cz _o췐~P> hhm/$cYvGXa7-veov^`g+vfp.bp9awPgOFf{2̷L=L%Avjl;[kbmό_ s8{!:s 3;}*8: zBeg wCiǼ%(伅<ò9X&$Kc),ӗ%r,3tbNkV9Xd`xl#a69asN;;ຳ vfkg"1xLg=w :\p c{)68 ?[LaFg>v8fά[t6nܛXΆud䎅hw/1<ku6~s.n}꺣Xyw.~rchǵyf%\u]ur_M6=Vw;gf[}w33bB E$!I(s1;T)d/쮻]tc]¢]r%nA>߭MM_V;"_unO,yh;Z̊&JXPG<Ԕ fCXPN34 ƄN¤rϰ$^ա#tmh]nաC9 ,Lօ5dehYjNJ?CHd zD-Ow խCuD])4T iC]4n }m ,- JuuFnҩ:uSSpߜSNrNץ霼:Sl^Svr}Nć/ K0ǭ0 W1 ,s3. hPC h261Eb6Umb fg"3>x k3kغ&Kd2K˳ԺKX:}t1`W1;?v"?;񽛞aź1 _Y,SYK?^&P+BP ^ j~%eKjE,,2_7BrOir`!Ji *ΎAf;mOf4y)H'ixܝaw,Np!<;mS/as{ǻ]]]f8;JdpטMĎ>8d ?!1;(CmtnSw]#u7PYwgA^GwHEl%)5Dr_|}H{c|/ 7=r;w#5󼷸ϼ/9ǞSy1OBI&=e'4džpJ:+ďh5_%|.W Ey5TSD8*E&R5w|sZ1U5FEճ)=A-ѣU?=LUCT*\_hO&2OUW妺Fbk Op\>x+畜r1xܛ[xſri8[qvaUMު*wV]hʫofQP[gHG&%W2y 硦06%yMC^e:^3/lXtG*Rn@md<"+膜 5Mk*:eu@t8=St;6y<5L+(3ݳ|6t{{n{yyGxy7y>{y؛֫u?x_zxx{OyxKy;{jx7zx^Vx___۟`:1(Mg8|ݜ-_J5m;ݴѷ2ZO|`Бա/~Kswsؘ/u7~<^GrɓR{RQOZ ӓ<'\jz KOQ8Ed_:YRJ`'s^;:ocU;i/#0ϻs[j2g2Sj*{^:zʍO/VdZ![09mI\ŠSGNo0kr|Q;>v0'`/|ĭ$\RJV..i$/DDڨv:*OxNt61Źy^1y+N`N_w8}:w}Ü+&I_YO?\f9>ӷ~ɾY478_\D_!&C=5s`rS`f#gcNtShvfTO2uu!:/MDLn-HF9\TV˪ d3qji&ibif)apsۤ$蹮IWtG:G:=4Fnj:UtIVpJigTuN=iK+'D8ﹽs;8kqNwn&Nn*[Uʹ-*3O%wNLU#ʧQ jrgUwr[F-qsL7!~4ݫӴv0Smi%ME7)j]ν˻tE']k ucn议M+3%/nrȭ'Wݢ #)'ΧqUu#.V< oQSoU_ϝ97aԏcZܝk>ח&W,/Rp U\RF4G8I1]TnzZwnjf1{%)2&DW1uP74u3na:Gڎ7Ͽ~a,wJMTqz`8Y:+$sX29%c$;|%U7>J&zm}nS^u"e>sÄ&Yb `ʛ_V嘦jt71siM0 <[mʙxJG&bPsz"ҋO >N}ZTNp'漕y)l\iNC^NRDr{k~mc֬qjin2bL'wdX6ݘ nI:6GnR8~j=WJ3c^2:T' Nm^\әG8VӅ{9U:0oZIUY :30gdNS)SfucHt]6v 7s1Mew)1E2΄FGXks8XqKA/nϵ1Cd'_WSyZJs7u\\'U(7[OWvñ %H^~6ΗpÍmn9{nrz$zΙE.sSS ykp>zsՎ;\p9%/.6( ֬5RlU<] eL)4:qtj@1+坞.wu?9[.]A\2K057>)vHQʫ*:XI{N$=zKU2)Ʌ7*(kt:ӑKN'.Ӄ+8s%g \ՙ՜)`Ww?^x+;p=\ùuk<.NT^)Utdٜʼn%aNIĕN'0y7Hn u`# Qx698#eF}Y;%AYN&S4}kJG-49b5 uJ١ z!P tp> z/4Ⱥªs:I9ђr 'ҁp dtdz*pM V0\ұNQFgZkvzݩ:Jn2y&UVKbn"6N-֝\1F 8mEQ\Y/u\c5=X.*@cYnhK W}]vN}9Xa?LF:9\*:K^^ײ DXuy9uہ]d8sU@4mC>CK>u`##ѯy}U"e?^II*8Vb#8u*G y H.Op'61ѤcG I>,AΐD$ht' vD%ɉSXG%Ɍv7*ug1N {/Yd{%,bDG[؝-#C r,c2 vOQ~݀(˳ׄWAO!/zbG>>*}OF+誷IPn ${zڧ?VgxnuKs .p~?ƭ8NCq(K~>I*LTI;髊(UPf\命*\UY%Re&Y9Tژ3I7&8LY{i`"Q\Jr ͋I=.*@V#/R+lSgLP p5M RRMjj4W?Jo5V~Tcd);0[5Db Wѱ0Q扛BnY52f7ujV4ݲ[<׸V6w[0Nwyl;,s'!8m#%wxsNg~BYŻRY4[fNEwĻyt/M]Z3?[}iOip#3xQvJtME'p֍GWtsv}w?UozC*]S;9Ne5 TPGJ#d~4VziG!M G$EZj2,wM9cbN$` &`20_J״e fywoft1G(5AusI*Rܖ6%PyiB@*Y@^NkTNnzfifh][c}L_ҷ}[wPfFӟ*mrイfNm0]g7GusC0ua2 Merd2(D'07\y]Ԭm^ĆLJ1AI3!f 3>57 !ysO19:@~sGE f.z2wf2ҳuqH3u-!ҧPcf^h)fa:#nETŵd:fdlWO;h3ZYiijz)ze9"1pZ֚+>x $FÄ˓p ڡ1:4W7ٺ!MuiN#t꫋SNuv3PaͬR|:tW9E$tIS\=:aOGu3j'S]=*鑈ӏt'[{̃RJStCZKDS<=R?{B {(@-̤2< emŴOV">Bw=m[/cy\r~4^Nm%?q.e,؛gP'_/k)+4}Ƶ=ؿGH|uZI,$SGNUPFNQxNn! ̒ wοxdnp,qȆkF׹$tx)%=(XK6"9UKB<.i-g֊JѪMP-$Qt%p+S&899pV$qnRK c6Tq_\s!bnDucTY6rYP/є< 85;bB1HJ\`.v9$w| Dڑ?=qPD.B./l;A$8Pqw pG(s;9#Aj`X-t޳Ț>A(}\縈9Ɖ vr"g3'Yk&btOpR@d.iZI1Dԓ0%3@:SKRj̔Ħ$n$)*1qncjFH&]P0C 1q!i aK.\RLf0cq? %t￳5<)ZH8\j^tҦh)eL)@m {#[C2]msFUCT3eHgR5=iuP⾲2 *Jty4SJc N@F..1RˈeE7_՚I \bo~Ph:+ 뚠 0ۋ/Ⱥ Xq-Q/FCa|&6$kpj0 ,S$3u`# ̼EAԦcM1 f_mׂg)X 'bABa?'X61ð ™c(dpjv&w0z~fȃ2$t`O/yPOL~Q?kő+/D:< iq&ot33jgPNt,ı;_(N; HGc𙵎䷚ ?ƹuA> ԩuM[Q:JUuyS ϊ6ʅsqpc"Z85Z2-Z5:sbȆO$MRҪHvldj1QmFNor3epipn`/8 Nssw9y9k}sV,F}OAj`&',Ny* 'sc)M\%Ɍo@(ԒǃFB󘓙<199 'uLnBƲ ,B-G+-jNeNap&ހ2*p]ϊ7Cޢ߁prU:'7G_Z`/8 Ne7 87qућ1ыл>`0b\H:J;5vCJ*YLbvsxʇu<; @J|`m<*%Ÿ LaA|i>3e`Əbt؃dƮ7;Fvtܦ (e+F(FZ)bE!͉1 9[Q9:At3FǴ*Zjv<1c?EDF3JĘd~ZF`Ɯ@}ϡNWx rc{7GH+1!Tr?rzrUPƍMlnaq[;y w44͸;1=Ajp3G` 3?~{A|ndr=+|,'W]uhaΜcc.qt'qZzYpJ9}<8 "&39pHBIs* i`n)$B% %GT(fC R)QFDRJ HRDC^t#]MH1ށܜq3M:7+\r}#%=v(ӕ"7Ql _C) nJ#)t%ҍR.iANTDQ) %/'n3]tq12Ki'n@Y:i?y ki17$DH0 Ocx(7&h<@{t4[SGnO3ԝRLyEjc%f<"nDx UT^qP< ΀ IuQ15ק%u e%x?69C,h"g"=OB>JZ{i3-|)qn"m;{(}avOs,I` Wt ~v*-A3.ʃ2$@] @3?|/^ ?$Ao,GA]CI DZ8}/%u.kXo`U rzu6!yF!%/U0SWh,ƠHub2޸v}ʴV_>K]YN {q>چ3z*R^eIAaj)Q)ZHOW͡j&B݉N78z掤 nOvnk:6#nP.ۈn u;;vO@nQ=( D j(ZP54t* J8 Cq 5A=kdRwJP#UL8YʀtjjBpH!x'MsG*NS\*SQ b8y|ɫޘ<ɭ&kr&l&:=`'65H/Pv>B&\M7WcLI5̔VLBZ&ȫkʩjJ*c"kwި-ީ> N3ꚾ'~W~NHuXj6j[u,ެ⚘ޮS. _gu> ]wbC-o5/݀W떼Fw zFݏ7a9L,^`]̋<=g`'j?j2 q5^8ϨsbD=w[BrME#%OvU IH6'ydIRZKP^Ie+5dԓDFJK.2T n]zH{TJMJy ih-1A\T1#J+S./\r).(Grs$9l䲁*-s,Yed OX.+㹚Am8nkG}dySeO<[<{lᥲW.^X/{yf'rm~.R't7}Z7AF#?7#Rb}]GuTH{3 H<2ތVZ-R9r^ϒz'M=ZAr_ĵ\Ӎn$um٧vz]RV"%:,ֹe& uS|`^A1B%/֗x>(yɳVYo-X/V^v5|\/XK/`&:{Nu4_#*;>#ő Ν PNnq*ӅSΜ´Ӛx:28)δdJb #VN?;tJf >c᜜g0ƞ;?=paRs78{1U TUo j\ |cerkhk~U8GW%;P}8R Pp_#LcԤ)w ]yHӈYc͹it{q?W'aGkFH'֑U`hF 3LBz ޟgS,87KY]Mͯ,@V֟xj=tnefr3cd4?c0VseOk~:<_ĕo\{ f#:D l\ʬf3ك22h*͠X5zf6pEPXGV U\B;@mEkoBϬC zd:-:}? }/z:Jk0נWa\Cqp<5}|XVwο 6': y:h2s7a N,t:t#A~l /jG)>cN5s \a19 9=C$Fq '{R|R!raz pdgB{gG4}.7H7% Ŗ"&?}z&2kUҜn W85H(KJ, tQ H#)DI8L!p4*% %E^ԒKeh_Kp"2CJQ6)l腂R¥jP(^>.OQ8AJ(R:*G4R mTJe6׊XA])@j]øj@>G !f^m©q≠y` "@^Ϲ-=6x]tDD J酵]%\(:xVkGS! wnH/̝> 7Cie$h̃6r\鋼1~A=XoK9F]3HJa3*%b2@!Fe-ĨM1F ^V"<.G:YDwZHZyS*.M{c(5A=Z*5AUPIP3*DJr1jڠ ܴEWfAMP&hPmvȋ@2 GƠφ%NQSwDGV~@ uAMBUdf}'?R1 Mb9@j*s(*wx0p .ԏ '&40&`蒀Cyϧӑ? LRm8nq 6)Fi #FApjc}]Aoԭ/"~p`#7 DKj& `2; FnOCkA7ZV<j툺ubW7GVimczGjh sSQyDTUЗx,ՇJisplZdj^gP Ex6E1J`wRX3ϔR8RfR 1bɋ>8˜A&鱲"u`#('raļtCu PʼuۊFE:J@$%^+kUPXeZ&5ȺWSTSM>{yjg{K~^On+8pdp\7Pn&|O%~|-@wO C9ZY_dzKS D>WuSǰ"e'UDP |-Nb>GQ|џH/F/GhFohh'FTpjQ&Hby~l7p7cg|bX#cCՀ# w6Qk)/QWA1>֭*3< LkO揘-Į-ܽ 8!o3UӊNK\KsiPT=֥HX>XRsЄ=NC5lJ\݋#ߧXȥV䆫|Y,FY.Åq-fpwmʂ1ςkX=Sbה|RcܧEud2C1#\LjLhrnCPo+aaU&&VNulQE<}TgzS߰=qQ@"]W:pP u[A턒尺Lq= uFݧZM-}@-."\M֨۴JVF^pp݈(]\BUh&ZX[XwVu#֩-MsޤhI+37{/:#ĺX \PQ {Lq[@ue PmPhWʃԊTR2j3UT;p`#UGo*j#P[TˢQfK-p'U+ljסʨVQN- fQJ3W@׀9=SeH-x[-RugKMjzKͧ(pYN ՞r"⨀u`#q w=B-wX.\w]"Po2Ϻ].@pjgtmJG݆tʭKqomnkڏnU֤kV'ݮ_;5 8o>8Ѫ3LD_3:PiVm G5ͼ4 3EdJcU3 ђ֑Uк0RpXČxQ6#inl n6mUVo֩fJa`F͇Ҝ YU>3m&*Y*&q*Y89no'w GUHB*BA9_ަ.>NܼW;D|趺YֱU:Ω "޹ n{'~N&@,ީejWjֱUzN~HK+ݵ: @p') 뤼W'=:7UgB~R8Ж||\gc:-ցʹY_?E7G.xrP*⨳uc v]eeyΟ5/]y«tW腼R 7ӡ6.PNM[V{E eDOųp5s+ֿ(ǁ`r)Xc%z& ~ֳx ~0:H7[^z9K^o<Άm 0Cl< pgor;;e/B,Ԏ0}NmJ>88]QƻM;pmn ]5uh#C!ӷ z#3Jb}}_[ 87e.I+%DNH 1h/.? vC>Ua(9r$-I~ ق馬L2Lp#e䐥UVKf$eXV)D6KJY'eߐ?eH'dd6L2I*d)5*YŲ2# :2T`i.~i%tUTt'7C3cdi#$;i'iI{ge禦gK1@bOri)P  кJ-4=K]e I%U0r*O?%87E's)9,W\Uruy5 VFpiy%!\D.sA9AI %,TF&8p˅:J$EpDIJZ&y/G#8̀1G_3Ww2St 3A7Zf XzxMl=(=L̢֓ѱY /tʅVs=lF=lY&z B5k"A/ll׋.?z|kzɟmz٩a'Dtڮ!#qΜ'c{ǀ|AuN'GN9i  Z6q5yMw񞹬+ z !rĄFlJ#xLr#͆7hJPSbd5k&r*|+gcj`S9~-KUy l3TC4F_-T L%# /M{Q{SgdK=6mdj*akZkcYBҦœWM7M?[Eþ~`,=Tь[MW[x^Sh#m37sf`6.c3I};dܱ3v9mv9tv7mo/=0oI4]^o׾ .M2܋6g:I0}`=)=^3e='d5IZϷоGϴ, ;t`>bW vU/״.X?12 kT :6϶c{+(؏7vڎGd33y#Qa;;sd^<]/щ]?`m_Yk#C >qp \{=D/H~_t[^_;)=S Rs{2ӣe=^(Goޔ[<@!IetwPUnGt[[R}ݔ\פV2P]zb_(Gi4c4^7IMTѭ5́-E-z0?zNœi4QO}s0~&Si-?i;z Gq9 \Khm|"(ݒ[wnvP AM7-unBڍ :QAW7"ݐ &]`p|0˕ RbW"X-. GW:8q]+v_-T1MՀA,jDV@ uQEMB[>R,WǼF$hCGu!T;M)T3Z``.y700KC{80LC`˃!|EXvҩ`}l gt%H7t <6C=A ns;O=[0[HE%OMnJZQ!hc#k *눌~b; qUZ-'7mu~[Ei ;-,K ! |K=|&N%y1Ҝ3W>j VPWYOe}$҇ZH+j*թGu$3ՐTE rڕ-t%e{^wbckb>f>gxw|ȍn\Xg_5yii_aÿiIg:^maCҢףpu:^/:ξ*] Ӱ_x^fN$8 N֣ӰT+^'<+xVXNCg%xxM^Z&x.<(NCS~AK;pFՂ(_7ztRnu)K;FEʧ|>Ea'uRW(K>Bԗ44,y4FMAkfT5F(5vrz%ono?LWi{_fս'g\QŕDTZ^UTMPmGe,5LVnVmd7x6V`5WPo#n1UW!'Փ|fWE/xW!jz(`(MW}:Հ&r 4\;:z-ڨ!S\UU/ra~U^Z?I_vuA/:B}W؏4^M~nj7V '(:KSg֯O%ԒRM)OsI--+47csJJ{ΆLCV;h4j7iP*J!*/.x9!tڗ+Д^:Q*M)(%7)@ %H\ <'G]l l q/cs!?r86=gXU,Oj9 Ϻ}51b,.%w5>nr|:v?c|ICU0&\K`r8)09 &'1ƞƜs30s2IHE9O97CAy.:;.y9wsLv2D=p[϶×X۴l-=y44ʏن/ī!t8J Ty&uK%%T3C~RcEzz3ߥ2[ʁW-OI%NMcvm"VVvk/{]G9:UEL\/},iԠax]4yiOU[5R«[z*?QYJIG+#UPj+XW@Mty@<[QpEY؍L d"hrLlXjEdɈ2 ^9: ->(˪Tj؍]T-j;WȊP_Dژ*b NTT*{R Hn/yCS.)IHu+-և !/<ǜR%N[!hf:80T"X,IMd['/QCOyIFe\ḻG/2![ɢWQQ^ft^?ٜjVrkQ$Gι@TQ+ù@6@mō3DQedNro~\3?;uGcv 飸-r4֣䲪ym5zM^Z.5ھƄeףZh&/Z`aYO- i(ڢ긭Y^X}EE$kD/K$|7)GF+&/a{W-SX6 iH9^s^.rս|{a_t~ֆXd}l iHEu(䥥Qu:lO}iJ>䤪W%ٗIT1IY#Ҁw"6i֣Z"zM^S 5a?\Uns ۸SW{_2 nLve; z,sQ Vl<+R&vwY6m ;Hf2)%'q˹ [~58=|_Vm//aiy[:KϏHGRcʔ[,;XC ģXOgxswr2$7Cfk cMB\7H ^8^*s  cp^yzss5LwCſ; ` v+MY22Qx܍پBPo8BmydN+&gmDvgN>s*:BT.>.E8Z?AY`#|b!΋:r]|ueWW\\;r.ntrK.'Fi+]CiHc +G*@aJIUWIRõZYGhKVuHZox=_虾be5$#\ `w\BIK8!=/RgNqrNԒ[x7 'G,FfhK S[-ѾE6礐䟥.e/oKR kҊKSNT ӐS27%& ²3?3Ox7˰y+"^fFB15x)K<(l~(u1<1v"[2Z;@aX=tmuN#nS##5ԗ\  #:WY.t]q]=vu~) [fTv&<ƯK' neOX^f356ǩEMle2@SGZmC<\a3kY?9o~U^IIOQW7[Ed)(KM|Hû2Ӽ#o/"K¾::E_^0yL `{[-O|;% 7q2s߷\ d1r:?x4cx?\r"N'2G_l ˿b6*8֯$-Y!IgKrsT3>&t3NӺ|^/&ȍ'+VM4jn.ujW2 HॐMG֘ LjX<@'D,OŃp輈yǣtG='#Kl}!\^/sYQd mbk&ro3{v)mMnaRszaP%yDX;k"ɺd,u^Kn]AZȳ.2r-]J"&nGܟ=CbPNG  IHDRbi)gAMAzTXtDescriptionxg̸ IDATxOLYiry2gc;`0{H61(M@@-phYV'8Z74֎ L@PJ2Bl'Sq꼜4 RH,Bȃ-ЊI9iϾ"d&}‰EW\_=SY\&}@_J S3}n95|ڋ[÷_7ʪr,+zGI:W #EVօZu/t4㽉q;t2L@t`jq~Qv7 1A{3.TQd 'J"+'l'SDϼYbYK=648)4 X!kI8n;nB()c֍H,4zX /V!Bh[5>~G؟s7r֍Y8jVBu*O,x:Ҫ.Zn+h9Xno҇8}h uB=$^n'S$>X%eqd F^RJ . b"8·誕O4q)'9QwgOc1ZC8N5u1פBX|BtN*ƨoxʓKrIвYi]WFh=8?8ڬu9n'Wq,NGcU[w<Ѡ}4p7:}g_&}AŢ؉Ҁ.jMu]s!uxEVRԣoVB `\ !85NSL,U T)/r܃q1dU]@ m3-x=/4P[DG^N%Vjp@}B,+?x= .`BLvr[iC* fNj3`!! #`ZU8r޸dKz!4 0Ûy<~-`JIi:l,Q=MI?<8|@Ԧ.Ԫogص4 Z 3 Cf& L0 `003`04`f`hЀ  6kvGBKBuI ^zAaxsҽ݌`|~gLq#?*?tĢMMuBCat8rIq8Kx"+v2E Yx=%Bه7 f3Ӂ =] Ӂ)z LgIȲ6|㜀g 4·:\Y=q55_&חfT2{sy 3>gξUKJf?qLLuf)tM:Y*TT2Q=z[}`S.. =:zC u qNEWj)gbX9^woE+xS0ڸbձ41h}:@K |^8ZҬKdscYyW٨ރh_ohC;QEnn,RɔnUd8UC^z4xD̼RC<{hYM-cg_&U 2zgq,+q1hzfj. o:G1g5 غ<`H/i6Ԡ{0> zOo[AMN*G/_ /9OڭeBLzY5m䊬iڂxح`g=ĵCBLmPW 7[߯}\Z]BsԀ_y3?=35럣Op];.RN"jwӛ?*μgO?g0phznvb0 u۸F=}3qS3n)8 R'~P7:tCȤ0dE5!bx]K`0a0Z qngޏ.3aų.~9e?u_w~R_+yhe&caEљg%OoJ pk&[;>M0 t,G_RTDg  /KJF_\s_ny7} L4mO_5gc&6o{M-kLr6W(.T!Ւ\ 8tr݂swٻ&nt &T!.K05 긛>9fe]htA# B{%';,?K{B.9/XY>/e /@f PYC*Q5=@6WX_@pfx¿YlJ߷6J\OϾLYLo}eI.gs̏u3$M)W' 6_\Yō``"(>"h-3 ڎRM!G7B.3_,)yd!|S,纸aLhbPT8@/mEW6$/ǾX*YrT^_N߿Wj}x/K ~Q!խλш #gXȓ`(|f?(XR0Fb.9/n%wTG:} p}0RdCUHl TQEn%w~z\Ě>w9wB00 =vK݂l0ể~&@FP苎ɀw%7;~Z>M]7P9|]65qc+_}u$ی0rl(+rcuKJ(< WF~*j4" %/DRY+;)L6_[/lLIS+@I.9`Z~Pˑ|ÿ~2%e+S%9zj00ؐʻ|DsffB&nTH(n%w/by€X*@6WL藜{ݨ.._qwp+{|a3fy,B !ÐʀH-gvr+ }w;}=6Kݲ~%mE&Вn%w}wCeǞu@6W2puN+8>&w:%O\?$0vu,jeʇ,4o4r-T={{PxR6=?l&'|h.,8 GBryE`B=^k2@d! (zz*-X*R7]{kۚD4Agt\*C+p}Y㾻ȍx[W3\s_~;.9/v &#g(e6P:mZn> n9_.sҔ1=vzh jвw8.M :fsg_u#.MNn{oʧa~==6 G(w ?.VߞsbWzUm~fBvGӌ:lR[_ә칭}qaf`hĩr>?v#8MC7zPx錎N(6oE6(,G_&Clvinp7} 3est]6Wѩ5+]ΨafTLCt~l` rG;PpMܸ`,CA*eLDBԚqf4d`Lt!3rTRpnp3S!k}VɯCP83ɯC`pf2hFGUtZ~tf&NETQK/E!͞qgfM͢GJoEl44oq ?{w}yte7}xgo A6Rϸ.itit'A(FΠUQ犎zTT 3n CGcm n }A_=R\HSPTcl8)ZD_wsiRh䠶K0.L핚uMr(m#fQafT`1PxX*v1Y* Jes~3=R:QJn-]k_?^Oc ?ѵI&} *2yB7BwntM f.g"G7;.9/n&ߠ:f `3߻.p>`Y4/{ɯCD00q~~_hg7w4uf&NŸf ]Ť{5o:u G6RhPhRhvD2cD7ay(G+I$kPhbDf$t`'NItҟOI/zSM3. h^*K:FFNd7uA|#)P(,o-{{yevE7&33L >G5×0lvm/*E8bN:GՀM C oQ% ;0>7ij6^u;x*LG`0<M$u4=}28X23DNm+ݞͨiA#M5\3a!7HZ?!ޮR; |}^L֘CcE2iZO/.~J!tF܉pK)B[<枿xkB޼RkcX^RYA3STG@|,{Uw-fǙ1<6`9 |2a6d yƿS abn/FWQ0tmn;t-^ݺo0 VJ|R(_s m^!,_麏sa6G8)á phǵztY@xCGG&{|qvDJx jS,9؎N|Hub&.g|=x-=ue]`i˲L-Rsrr޲Vg0Sc鲊!]NWue!uy=uKuE&C3j& kz&wmftQ:lVhhȱU_ ̆0ƗξN Eh6+ڻ^pmR֕)||NsTgm BH2hEA%vþ[.74Yz0̱)e1MU\U @LSVoX0O;zN)xp@?pj2k)#k/NcPX]3LAxC ]4HgNFKFw{QK!&Tф1'k;T0o`v}ǼW3nvd/܃]C~Y-JrTV chttG_bU9ƀV/ΎiX>}}R(JrI ܮ/-4i{ ʗ6oad TK5h=xKr$hU d:}zR(:lVYp-ƷVo+Wܡ&ٜf-WX -Q;WK&~g[jM$S߿}՛\4?-B!D>6$__ݮ.=i@.Zy=  ʕ+3Xb%#E(;9V[dK&{[]NI'sO_B<_9Q_\a)_g*Qr%~uݮ<*rTZYmi: ze_1K$Si)G{ǤʎiunV<{ Y s=-%9o_w/#U68;[>＞IIGςńB¹$unr(t(T0JBr-_tzh{zE|+U>*:G^d_bwvnֹc_QӭáF Ez˯:YU;xMxJ`o0sح>q2a`0#YMx[77I}1r:YmK20n=j۬}V0&zT5ܬ16zꉇ,#!DYGPW RqүǔF .!m IDATr>?q<,wѼyi)kxp6kZ2w &8 T9H/?4*UD=KtPaliLĭbsc8y][O$3itYl2אy45J*d*-Pb^h"䢑ei_e9h^ A/"^PSW l[PBmarz>e9ZwW߅xMaBF2V۬MUpmW9RB<$#0 *B[ t:aY)rʐCd*uB2syht< rooAL<`}qv28h} KMPz 61(zE&Ë p7 X9"`IYWTVڢ,w :,y=>Iˣ@WO mnR͚?-mVT|R7A‘_JEe,T+!IZ = fw8 qجzK`՛?6h/x$+rKۅc' -7SPI蝿8;Ri(CP {k*VT``hyfT!8dszs㝞k^<6;e˽B[4P)`T.K9D * g*vwج׍&tM4 V[E= ˯Ъn (iJx%'~O!KHr'XZ#X>vy=U:_ nZrv9%ܓ4 t"@  mھVo5߿}πCM)&C_UAygm@wqجgFz#w@CvCm2(>o68z("R8 Ԣ1KHoM}tc(He,cSg G̝j6k57ICsDRtYx''>skkRm֑atB5qxrr4FqSGk aD jyHIH9E ;/hIj6"Q)1y%63}"ت{`.Lbb0_,q;%eS^Β&^hq&haZ t=-ُpMI%w3JW>J^,8H/sFB+6뀭u.&LF7^jèg(v,3_¾^5 xc BVOK4Dr!8[еP*,?Ơ@g %O$CV~7!Fb^AFܞvqJ(} @Lj6#><o9qaj_nؙ!d=ߘEP'xނO&`:Lt& 7?;Gn;lVN_wXZcWW:ϣ'bZ&:[ŴpJΫA];"M tЛ sbVrL2V^ݸJ͘x"tuA"0"*[8_XD<ܞl% p;c~!+X0QmE+ˏێ I^B޼zz4}5ĖLIY1"xKˊ*+;e_{} &n\Lgp.Ųf꟒ ޼zA9l`!$),*@@$rRs,2:+<X"ISE:z#-eEA`[Z=J8 j (1`7qجZ>p>.\?_<@ˏ`NcAJs; Ń\DVT,!4ĄC̈́;UeߘGKR7AB(|ʊjoEDRvkIhQ+HbI*BKӁ^_-v9߿{ |䬉&v "-{nN_y* BO$A%8gMoqzce^>S)NsdmVI!+ˏRRrB]0ǀn"%δ9fzڊ#d&;N71fz<#u{ u0vo[8 \6pS};n3CDݥvw;A23wfN &.ADVgoz`0a"tL,frW߉NI{R9~gOV}Wyײ..ߏA  : 2܁b$MeENnR?x|LMGQ8_,=x.ԓzoP96V} p)≤{I}+ !`/SAU h :6VqlyYQ!m.mt_$7Mf,/9_#N҄(5dmPOh.l5MoE4߯ܣť5#k4M'h [XVTO1wr J~Xv;ʇQYQDA'EVϣxHh{;=YQG\C=51kΊ/]7Ƨ1] Bׁ]{GahD+nY7 7&2L;@ׁ]{Guz;Sa„KЙ@k 8/bP)maj:Li:ھ~<-e rT=Xp{0.X# ہ*,I a#,+Nn RR666^kUA-20ݍt tLTjXByGњAC%FnH/soJ^tS@2s#`5&]6}"²V~bYDtM+CD.gx]...Uj7^f4M!tb3*ǕZ(  zzdE5NW>|"_,#t3L(8Į G6tDPpv[o^6 {|cJN( Aljd7^lV_y8%>큡-gA42T3)hP*)) ߘ'rk`Bѽ-9KTCSst`D B-0(ӁILF]`{gqDRtYXagֈk, mVv r(8'-zi)sxN&3{GPp.-eF\CMA L|N25 !(ʅɸoP<@ǤRR6-e CΚ&tf@&FAӿH̛W/XZ'9Hײr26ȰS_Px׳9 L45.k:]~M>X7pd;z421 :_,< dmUDVR^6pd6W+ywF@Z70sCouviYXO#Z~n̈́5RȊOkXR[FE(ٳ-`>v,VWYJ;!;n6zuvy,kBpVXrf]\ZE"-e~>8 ERR6)|*jWkulWߢjW9M!΋vFuyX/ȲݮzS@⑖2BBtSgaBL`W9ХrˉD+087&-Y,[B1q(2)) ]#7T4x0J3& xxŶV>@4X,J+v9qD]XfZT뻹Ͼ14M;=4* Ti)+]J}6{ؙ17 KX}L@ RX۝6[xGJU0 HVkYEðQXlML)G6<Ɋ & sg#Q O&N}7B #agJʲ{ Is+4Qcs)S=Uj9 R )s³0Y !<v収4M{rBh=|=&3 ׵ _ ;VߘRF} (.~Y]o@|sr+Km ׈x+ˏ'։g^8׎qn 1;Îv+_q&>Rɗ sPT8BI"Ԁ&D1xAV0_p.:{&1j8y.Yk8zZz㨢Y._@6ϡbL֐ÃjZFWM صFۉx=i!0n'jI|۝n|Ξf!J= }+Nr+#A8 $급A#64K̘՞&jfq.RrDl̈́;Az߈Y_ Nd㖤!$YعZ_Mb6>-*,;W7KwP o8|J&Zt;}:&yZnFy%R'nu(9bb/_-Q@%GQdxS A/ͻMIvZoqT;C w5jB1x=mnf#>/á-y1B=Uz~\|hd08ΟM5sp?;;9&}/0uk1yJNQBS3V)4L'MMLL`)/oaH7c`oi!;a` YLL,EBef0yܭN"郼DŬB ,[oMzrY 5/Vt9H._huNKdj?Z>qph҅COU&-f: st{=Οx]F7(dj?42y(XioeXޔXu613t!/9 }.R\FƐL7݁\e4Z~7^:Є@ZȺFƠت VLx K&谘Mt {cr%e`G6kZS*~dW8 ع)gԋ1o|tՕeDq(|IV$,?}Чd|Aak֮dE<X(R|,!R"ݏ߶] ۩.!Dzl1ZUjKn'5 eb&J=n'½f#Q%Ӯ yk.7&EE qT1YfB .3)LFƄ/o[2~BH/At\ J=EE #dÿm-g,%TCgaр%BH#}ӠߗL0dX\1@ Tbd :FN$^I_V7#dٙ Y t3cn62qE-oPQKE:n S*˵>%ݵbp!6oG-)ꑆnCg[(nR"etoZoTc >GS54QYXmMVdj̄N=Mdlt/Wh<ӿO6!djsBF8nNߍg#>WgCrx9xt^jRH ~;i u7ƨcM`o?g' yV{LI&(~᤮>Y]?;9?馅,r%:)][n B80@i!C`,BKDHL 7+1z5Pdͦ]q:=KY\et8=co[9ײ#_tp(kfm[nEX2o18Zv$ta V,; ks]ˎy1iM,f-` f&0W$𱸜xq4Kq]*_@qi1BΥ,>tTZ{ۉp; &ʲN$,W5Yy1}j+ˎ\@GB cV>hdVn'R:O}yܓ*x~Y.̀߇U߿-+g'Foaxg~l2„X(C}鰘MFU F!,.W7fR3s 0 n%h8`&(60 Stϭ֛ cl!*އA._7DG LAڽg5B[ ʛU6c<@L½F6/Jn|U*_`KO桑{|.¿mqQ.W{x'|n&0uj:lv<-@*ʷ_6'4LGphk&̄Nf׌]!kݓVbxF5PfBSQh`໳0im@R: S+,YcG ʢ,#]HݚZvupym":xo:Ecksp"lJM6j# > e*.JCXGF8h:BsrҞ9/,WDx IOIhB>W ʐM)x#=i|7k # Qh fӚ &qTzb+d1@ˣi f= e#$I=jDj&N Vk1+|AQQ߇Ioeg۝.uC>zg->Ͽ˕jY>x 1ߏB6?z AFbSz ͇C&}/0PdY֛`Z9JCdKcFۧ֡$b6K^_Q:dϟ>NI]ɡlBg(a g_]׬MzVT b3ANJZȂtkWzpZ9nܾ`xV&$* ScŹD{\~tMQ]՛ebah-/h!)U٠Rk4K>kzBV܂ĚX"#>0(_^&nA![yUp9<WcJDѫ1K!Fn&S|,1?w\dK=BrSBH~I9Ο:]QDQBDZ\fk١u+|-]k75_uWx0/!K1&S|q(|,0Dc[() V>qvhdrzBVM“whrXYm.hdd׸ ΛqWV[_#ヅ볳8KYrKqլDTڼSi!.e&~@ ka!;L,c|?8ل%tܛA 1Z@||>p-|oX(Cpw {2dEZc}#,:(5kˌ,#dsPZ)cD8 I˘mBЩh34#Mb+f,r|ָ)Q 2EgYBRЦAltF"unmuO>ovf(|X׳ TMBV뗟?}x ((J/Ý;Οr;j2C E=b` i4#:VMljձ]Υk6AVXe%{=0d5;v`DQ-WX =_z( {D,/pt/+_ Z6E"Xdoá-1w&Rh;yB>qԁ˹tvr(J=T--ióji̓f,BT|޻>ltT2O%G }k$( t^ڹ v?!$A2rSAhs#M z=paZq~bd vUn@% "A8о`-/>A6Z.Z uyS Ӂ/:V/*j~~7|\u1G`瞝B\1(4Zo'u`t>(!' C7C ! c0V~AMSEh*X O&a"tlt(`4\p#WFS^._6ޫ.tz>)_Ѡ6x55oBnu蠇C-k1X y-`6-*JY7g9sIzn<_E{t^ i/lK T&6/J畩P t/Sݏ) :F~7ܡ6Yo1h<`3!D"цfS,ۮy4vU}\}o`11ZôZ̦p],LJ >|a=&CgaԡcP3Rl"PSq>7Jؾ/t ~7`C+7nMol(BHF8-nrTSvFͭnD?{ӛ6G'D!̎AD"U#FJh(HPtcySE,‹4QҀD6{m` [;!&C}TU` 9?:Sو;?;D8DW>Ez!.t# xg/I@+? DKsOrl.SZoPWҙ#PC \In e7mcQ;kM&p)Tw LF8hd>y (`/Fdg.ez \6?~x̝ si?;s-odtq.P7WzXX' M6h2Dle-]0cQ1ʀ =zW׻lW_h'om=f_ U\( sMV7&]һt`r츬A0M R*+ntkgV#|ad*yHjsZ'z 4?+OM?$R"辠cҷRl1+6 &j왔#w{]yc%-0 &4'o?V'\v\vRl!+ i?>҇0`/8uONR"C8{D7s.U,xܦf?s.#W%KRQ/ /辘ҷ<碤֗?4Z3\O9rC\N>ExE _Y(xݺbNP09NN\qD˾MR"[ }P$}b7ƕLY:b}se߲lEveFwd7ϕ-V4bZs.*#|s.|_=kFwc%Ϲ Bt%x)Z=ԍ.B:o7_3GnPv܃v*Gw I~ĝt``fxM^l +Ge2zZ΃\l!}#șY>m Y 9'8d>1 vxmP[{)Wyk:ah&5Ս.\GϹ.8_Cb8 8u9]o#r}:Sjjt0X,W[]IrE~_zpf:X*F79ukg Ԏsb¶|QCA)M m oThL鱜=u9ﳸ׹u;˱IqLәCx6lRCQՀg `:1C SWֶx5"ʧ<> ޱY1]Y ^!%R9e% Y-1cґy3tn1?6{|'NOJNr="Y}rﳹ<'UF>[n9ҙ#xQ*ƣ\ !dEBH84dvA)j+S,X4Wy 7{4>URm~᮫5jg ~*0zZ=Lڞ* &G ^SnSWtI2"I3V;i~ȋc*<~сyc w >8n 79".ZWqaNkX>w6',:pV&w4щwnt]V|y͠-T(FT:>BZ;9pX72[h~DC؊gIDAT"`0Ppem+k VǶ4Iҗ-s?iÞ*:ZiВatQ[R?RP":zE9һCӫ6,M?2IsLIDa t5~4X6WOl>v015]w: rg/T[?IlDJ5_-V EhYIx~D>~x6p68y8W`§t4dď<ߖNrTh:ÏrK؀Wz_<䮈tR&WQ5:ˠsSWp-$,X=k@lFr S2fͶL/^z}W|8l sQcYwz7˳)C[ŔYg%Ln/.\NntoM[8.fzA}{b*ߕ [b ,&r6Ï ķȬt4:v\i{#YG6p?5咩Ƿ | 1tF!X_5^Q?W T9W 4j&7W/8BٓqtNBVBt搝F#sm9xcSW X!kC־RaH}r /#|ུ9ƜEfK6lmHv;!NOӍwa~Q7`2״9lB%Q(SL&g]BĝreƟ <܋M!vy8 }MZsM`i.vG+S{kc +YpsQ6Hb;V:\jQ:l|[bHu>霏ᄷF GA'˿-;rXдyvy>F&z8 "M]2BnFJ++!/VH^Yے[THn=#hijOWֶFfsNmv|[JF״pj8!vQ:F7d~߃#MZY<:vÑLJ9| ձw @F(*[W@ 5@=V8y7WAǪPPJqgevtp@Cl.mΒ5Mpp4V&|"J `&4p\rѵ>ksT [8k.[Uxq+gt4bk4+0) ՒN,:g>{AٴV+k[Tz42 ܽPPJ$X8g/fQT>FJSL6W1F油*FKC W5՞gİǪq_\?Qx,LW{A 0ophj>2 ntk%p GfF XNá n~*B 9E-B|._L` f8,̛'<"hY)( 9hP`!xTs gQ.p;}6:v2U$GסIMwm~Ja mAK]q7Ƚ#Љc&PNB|d6- ϹVֶ6W q Y Qo ƈQ@znT`O 1L`#T'uC2pޔK"xHm@nG3/j 1:Q̱J؝?Q[T'=]UzR" ] .z[*G-#{MFWJkP:EH&oyj\JDJn'?ciKPn߇?~xq'\4?;q;F]p1|%7lv"j;x5L+¡)Z\H`owMes?.mݨ%KoC ϻ})rM^X|j秅?~_|[ +߆CA]7b +k[{+k[_CU\lpw6wjP属Km^kt Gaxε[$Wh x4E\y+|n1^,\p7W(6U$-:2[-}mSo;ftSX*<>{ӓ&-}FYVIc?=[FBcͬ185 ib6v4$ouxGހ[)U,Wdho<2n|ʎPa>Z`712 \] T RcGް2pa3ДatutntV&Bxaڋ\p ([@0j12 JSYވF梑9Aϗ [m 0' N!{ȖPA`;H3;@m4_yKfļGo*l}NI'hIIZډlbd Pv6Jaz)[uԩsw ~vv!@5_ EdOazO[ٔV(zN鵈sdsǞҽJ5LCbԐ۔,>1P Lv/R:;mؘu9&D2Mo^K^B`4Ķ~ Oı7\o6lMԇwo`M5 ++K"Ѡir–S>')җEX"/#$d[Tc4J!lB&˙~TBNKUvo&nwnþOFÂw׹C1Fl exd+,Ķ_yjb50byVrlb8DV>Yj1ѽtF?94,x'"PYYs;V˔nblu2z=sڟBdYMG>%w`WKا7t׬ v/rCpIQHɛ!ۗpLۮ;d" _5<>ギy\|P4XQ"Qf8l:^ZԛJ$Ԟ FV!CV,`ixy(}2\)&eZj&Kd{aRJDHfqc|Ը }R \ A<\yA[s&f1.#leʱspףuY 0cP,WN!|L6rPQ3ğkBt؟!_X{zܬ|ǾD00"ҶH%*ZOo<'ӔM.G hX[~H2; B~JXWqZJ)Ubo4Ю%]5mIſ^NlKB4^{#!2  |*(Pq 0pc ֢%ZJ~ƌ6 -i9/W E0Mssb& Wc[۔s^"^6D2=r蚶d$_8\e9z/0랱ZЋEݱX_;p*6q6ѕ5@0TfzJER!q2cL:YJswVoX-StAsF)R *D&TVGAi[S@aV$Heì0iMV\6F)xBi'ѠUY>6[Z5CJ*U` |^0 ,,2l]M>ǮY X Xmb.K0J@,HY-GƄbeEfr儭&FêЀlab6IPp 6biWrfaPp-}xx]Ӝ^dr2g嘞dnulw>{Aqպ8:إ!|PFB5ҥJVI+m]OE{y";Gk1m[q2>_dx XYl*W(aa| li9O$SvnH߰Z'wBgQ0AkFwn*{6z/O7qaͺt% +FV˔,woStZAgLVYA0 fPT.$T/J2:^Dsn[ 6C~ \잮jFlS  Ķv'42c'`u;}f]˙HX\xl8Jӷ%lRɔ*-MݶؖB%z alĻئ$2/a2oWGœiߋ1*}K:ƓidLYY*J7CrOꚯa51=A!$6 fЋ@f7P1;~X;T\9Zhz>N'!K(.1?sz Gx\zrے<|2f ZL+VitaŶ$ 5۝YCFjjg Iу0à[mEbG:R[`͵т^fS.;[Q ?Ǖ`'b6=1yoCoEG.;T''"%siJ›`ʵzC Wvm|^\ n,]oUh;eCsn,X  L5\P&Z!r\Nj1y\fBWkRnu"FIk9pcTcq]HrbD3(V~]_ӝlVod{)J.׹HcfTkҶ\1*!dP$},_o_Y"Đ)m0՟VBhR޽bznv64Ǹaj>P'btL6)U_b;S(ý$)i[toYZ,Sb4Ux2]H&?8=k5 g 4 MkϡJl5"*xW6<'Q X\w< dZ|7x=û7V)^nglZ ,0&Sؗ>b" z9ڇuL:@o y_Etu{1\ҧW[EYfj4\1n"rOp -UNO0199축+*A] QEj_-;i1.wehv9YVjgnOt,c"^ A'c6ǭ=Lv˕1VJZT ~|hR}>m4պif]1u84D2} ! k;pwx-u0O1vҚ઴-κg`1IoƥQ+\n&DM(䒗( _Y6y{ +u;j+|ZwGR; cH 9.\B4e[& =>u^51I3OXU,gF:4_u',cPXɲJAP1@_;' 0&z7;†%s''k4dmџ7u_#`6O=m~HP;gCp31Lppp 7Cp31Lppp 7C)SqbIENDB``! Kϒ}NnkPY+*p3`3 xZ TUh/SR>,\Jec.4 K ʑ(R 1-2\#9P!tCfU޳g?r/}> B"0?QڊeJyNN|wpbҳ{Y4aiJe3J~'fe>9{&gϟ{v֬m,SꕖӰp C?>7 2&##].n9zj(nݸ ^['?ee~o-֬)ZR| L}]swJh^ #w~&eFjioyKn%1Š> @8Ή(+F~% Q,}:Uiy=ت)9hc*k-[oj@So֊Sf(CNW T2N$ynDy̟nrޒ0-9)7mrjJa<&%̝Hy-㑠D5hk&{z:5(?;r[K^F.6y)[νZto rcO )WAQ'R\&OmS !&ZC,MmWqJZJ_Wɋu[Ͼ߼iשѪ23_J,n+RN|Snxfe0 P*/Q>V(W@0TLwsc=jJHecJOm$P8N"S?!=MsP Z8 ddNRSd*eZ_K, ѰReBT}Vtek֚SZ٨N.34RNU;Yb֪rt²JtECص"Z oRVvQe "7m!83zY >ssvzX+A{low+OUPƼ 4*MTe@q=ThiHyDGirK: V؏WWիRE _.bxv3Ӎt7^Ŝn|@ 1dLEOnj=9/<3y BH945*)w)7{4ֲWʥcǘޠF.9~\鋦W4 =|-ھΰs|m{'Xap ySh\=ӛ[`e_'qLx7Ms *Ja ]9.D䡏/vҷ_;L{hK&6(znhKdSo87xZ2vg1,|QPFGˬ0w19U%] XSX _HQò؁qNJ [`|OCCTx&=)v#}xTJŲp10nc&lUew,Ed S1a)vAT$s2\4q Y9D%/i],ӡ-> ^ɔhm\Z:səpZ΁: #:KQx}M*Nm,SIl44e$S"A=qrPXV3w0-mPb0[&x#0@2 Xc8x$ E" X;_ar .rOI,7FhcRY-k*YSme;Q%bLLWb*ùE: F'`G6݆ixk_c`НS+ٿK6ͼ ̿ ϰr+v"9vh_|1/sǬ bس*[-bU-[ėW72N1f2S-;7=bz-|-ዑ|[bƧ$Xr?RC j![,p'Oc!ў N}B֮ E? u2^7}C'L ۔tx/8jiK}X.tPL3e $~ŝܾrVIg--*уDhR# ^ya}i"M 5rH\؅^C `n c_15b^3S-ہ=ƉZyNm/sk1xWh1!+П?l/Fz1||Cرy֟؟))#‡*}x6˃Yoon=2_kN諥h聫@ ͈upgԟ/봟pN=/w/ Ł,dgt = ͻ(3 ͇$tQ;$ O17ɕ j]`4 5`!l?q Ig~|t. Ftp}?:xZ]kG+DJIʍ]j(ec!~J6Pjmb%@0T'S*Jy(6=/&-sg4Xg뫳^ݹh%9J~'AxOA<,TnTLE >yw?u@+mm/p!cq5Bq{9/?Y+aRW:Kw$rF,#c}l9*DS.-}l*E?4MwĻ@9I)"ΦS. >S>W>Oh縌-ZY\ fn+M:-|意+=%r#;H=:=,fHu:~PzPʖ@%[/Q @5@d@ڢ]k+{()ίG4NOKս$fzR8{GO6{$ "a]}_}4;?cu}hp~2$;mI;%sDTg"L#%:_ 'OӖSdC|Tw~ջWS[:mINRz2 I>Ys>QxLM9HM)~|LR&ksI3mxa˱r8,TtQ3bkb5g):I<șs\x ay:/ފ1!cdK5_{i9aMYxVq{fC%sOwxz->-ng0|b|f|-_7*A4T!ba/UqÓ~ y/wswPM9Hەl~-~s_:_b_l{!cX5PFq-eM^`(?kZ:ŵNX?ЊI4"4"4"O~Z:N:lyEKy(]Yry>8[BPZ:evFՈ鉽[aw[ƪAڼXWX?+.͌-?޻ڼ{wqm`E}L}nPmYOF nPmYfCX͓zĖmv.7}EcX% ]kۥ(Hֿmd2NXisfO c_]C2RDBo|>fR{ cz`|2"xSq^v6cxU3VZjVUPUaU"~ݕ Uw3.cuH_w}gUiXgg6nâ~~qTu0㛍۰?GUUc;,x3U..j r|ykj^w* k/gw:3a{1f=d}zG/==4&UQldUp~j~Xh}z._Խ+-z>Ưr3V'BW>O\pY7z ж 3Cm{# mJD=[KW&k++?l.H`!Tf픠̍H oIx͝_h#gxFwTM7@6"NJfqmeM7.m>S!p iHCIXm`XP=O6 !OriJ^IW3oA ѹ~;?k׺fkȗ/hO5x}7Ԟ5S}+Q1Z{]76kE}yV繶|k({_ݧ8i^揵oVe˝VeEHw>|ok֯^۾>Uݾ9޵+i FN18cuó}F=9?ߴ cڇ9|]飧}+G~}̪ѕ0_״Oϭk[ۯݘۙ|׬з;{SozWewh-经O%}"3s;::S!*+P]cZ=~NL]O>cΗrC}.0{[G؝Ɗcnu_*|;~::} Tv) %>ix}MX}5VQo Zu>r㉸_/; Dfz'0ٓ9~;{;}C]Nw7?W Er35`FHgfƺg\Gȝ=(k؈}!=(ke[䨺/fgexkVݿ~N!ڧP>@/egb?5/gg}y־׾' w9pH' K=dE{H C>O ܑSP:zE9JcUne^cϔrLפ;*Wd | Rc~,|L~_S]W]S(qkhA+~Wck>+˜YIwl~gg %n4H}~E֯jlG oGB=p/% 4H}~E֯jlG Db]q?( %>ix_aؚ:~c>>'ȑOq?Jix_aؚ:~cNv_yWaO)ἔrCxrEgפϮqZj =[M3^w%5@@x}ܭ3j g,,5yT &ɪ쓼>;NP5ﯚFG4xyX9] }=-N0qMP86XiVoˋ*n*5BR EFk -~0M㫢WVʳ+)pHb7x{z\(_~wRyzwR`q\|/ .lUٔ~f+W\x?@B fW fSnp?*뀳S\(W(媁e \(,s%r(8\D[x7HB V RP" qO o\J?N?)W(~aSP%U'+HB"Sg+@` %P: %w6"+<.FА.Geڈp6#g+X ybȉ@Cg5#{ NWC_|*膐6zί'z+RASԩtCZU*H fF6̴BׂP E&60Ӣn] V@QH !t-X RD1 3-*е`T*Hv`L !t-X Rd@Ŭ@ZTؚ*t&oBy~%;*aq=2( rD[y RnFbJTǩ p6~J %P*Tr;(Jġ1˅z,N)W( NO \J[y RP" <xJB 8\D*x8?%r(lq*HB$Tp@~J,r(lq*HB$T o{c"3p}"nJ6Q*FptmnՕgkDr6Q*F8\yM vWWmn=˕{VDa'pN6Q*F\y$T !m_O/S駂KSѴBׂWRA(Tp);&v8BZ*fT -*е`T*HEK*BZ*B/fGGӢ^] V@Qbv<M z!t-X Rd@K+x8毀J)© ɇ|yq6;*x8rˠ\2hr;S(W(rsA P%:l{J\n\r{(JႽ1. uY\ RP" x?HB m RP" xJB m RP" xMB m RP" 8 \6)W( NO [PPႋzQkF+MW,`~2S:;}5>q;焻tSX}^rE}{#p̎fwpb$E\3w5s+ꋿO؋cf#ј)Vkק\Q_U^4]D rM\3>obGH4&ʸfkJׇ)W;$p)F15aSC> O{8fb$qz\3I6s+ꋿ׋cNv_yW{Bs6s+3ƎGcg|}.d5ykק7^޻v5ma`D[v r;UWB>jtpT(@   )ܺDocument Word.Document.80.Microsoft Word Document<0 ߺDocument Word.Document.80.Microsoft Word Document0 Ǻ2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt GalleryL0 Document Word.Document.80.Microsoft Word Document/ 0DArial NarrowLкv 0( 0h"DSymbolarrowLкv 0( 0h DArialarrowLкv 0( 0h" ` .  @n?" dd@  @@``    PUZ     GP m X^< T>VD X2GG,N,NP6TV<WZVDXXGXLbXXZ,N8'346$R     4 5Z2/ :#! ?& AF,.6: I!> B#M%G&I'LN)P*R+T,U-V.X,E"@YZ[\r$3x!tV$di2$(S3?MR6i2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY 2$?q Ig~|t2$Tf픠c $ f33@, g42d2dv 0,p p<4dddd` 0LѺHg4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0:2___PPT9/ 0? -O =;    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainTVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesT8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal &Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates able to use the latest computer and transmission technologies to manage the shipment of parts in and finished products out staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZaZ/ a PurchasingAcquisition of goods & services Activities Help decide whether to make or buy Identify sources of supply Select suppliers & negotiate contracts Control vendor performance Importance Major cost center Affects quality of final productn+ 3 + 2&Purchasing Costs as a Percent of Sales'P'BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 61% 60% 61% 55% 74% 63%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization"Make/Buy Considerations,lower production cost unsuitable suppliers assure adequate supply utilize surplus labor and make a marginal contribution obtain desired quantity remove supplier collusion obtain a unique item that would entail a prohibitive commitment from the supplierZ lower acquisition cost preserve supplier commitment obtain technical or management ability inadequate capacity reduce inventory costs ensure flexibility and alternate source of supply reciprocityZa*Make/Buy Considerations,gmaintain organizational talent protect proprietary design or quality increase/maintain size of company hh ^item is protected by patent or trade secret frees management to deal with its primary business__#Purchasing StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+'Purchasers Ties Themselves to SuppliersTactic 1. Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  ', Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N )"   N-!Vendor Selection Rating Form."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Price('  HService Delivery on time Condition on arrival Technical support Training>A@/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractp  fuff(0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse space2&Materials ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CDEFGHIJKLMNOPQRSTU V!W"X#Y$Z%[&\'](c*d,f-h.  ` ̙33` ` ff3333f` 333MMM` f` f` 3>?" dd(x?d3dHP n?" dd@   @@``PR     ` p>> (  4  NFEFE  1 RClick to edit Master text styles Second level Third level Fourth level Fifth level!     S  N1FEFE ZEf  `Transparency Masters to accompany Heizer/Render  Principles of Operations Management, 5e, and Operations Management, 7eyy !Q"  N!1FEFE W` `  1 > 2004 by Prentice Hall, Inc., Upper Saddle River, N.J. 07458??   N#1FEFE Zz f 1 n11-*    TD1FEFE ` 1 T Click to edit Master title style! !B  s *}a ? ff333 $Blank Presentation0 P *( Hr@ k@    0 2 P   2 X*   0P2    2 Z* d  c $ ?  2  0 2  @ 2 RClick to edit Master text styles Second level Third level Fourth level Fifth level!     S  6$2 `P  2 X*   62 `  2 Z* H  0޽h ? ̙33  0=( +P   TO2FEFE    9Operations Management Supply-Chain Management Chapter 11,:<))#H  0}a ? f̙33  `*(  x  c $d2`  2 r  S  2 2 H  0}a ? f̙33  p*(  x  c $e8`  8 r  S f8@ 8 H  0}a ? f̙33 - D*(  Dx D c $X`   r D S |P   H D 0}a ? f̙33   @8(    C xr8$C$C1 ?C <$ 0 8 ,@ @`x  c $8`  8 H  0}a ?  .  @8L(  L L C x$C$C1 ?C <$ 0  ,@ @`x L c $\b`   H L 0}a ?   *(  x  c $8`  8 r  S l83  8 H  0}a ? f̙33  *(  x  c $(8`  8 r  S 8 8 H  0}a ? f̙33   @8(    C xT8$C$C1 ?0H <$ 0 8 ,@ @`x  c $Щ8`  8 H  0}a ? 0G   FFYYXF(  X Y 00@~  VA1?10%9 2~  VA1?10%?  # BC DE(F4 \  \\ rrr@`@`gz3pL  c $pL  c $?   # BCKDE<FJg KKK%E%E%E%%EE%"$@`@`@`yJ:B  3 yz:B   3 ?K@:B   3 K   6T1,Z  HConsumer$ L   c $' "     BCADEF"+AA+[+@` z3' F  S }  F  S }  6   BRCeDELFVg 2!"0>JQ!R2QCJR>_0e"e_RC2(,@`O D J  # "BsCDEPF`g zz +s+s  +-0@`@`@`@`<    6z1   HRetailer$   # BlCDE(F4g  llYY@`@`xp  B'CkDEF((zgUB/&/<J Zfk$k2h2_6U>LJEX@g@z@<6+! 'RT@`p  B%CkDEF((yhU@-&/<J Zfk$k2h0_4U<LIEX@h@z@<6+! % RT@`   B&CkDEF((zgTA. &/<JZfk$k2h2_5U>LJEW@g@z@<6+! &RT@`Y   # B@C@DEFg $$  & 2:ACM@@ } @s@}  $-46@@@LP@`@`@`a  # BCDEFg ##@{{@@--XXX;;NP@`@`@`@`@`@`@`  68wW Z  M Manufacturing$ 6   BeCDELFVg SS2EYX[blb[X[bl"|/8<8DMNK#Y4aGeZaoYK#i4!ubN7 # #4129EB}DpJeU]cYpY]d[XpY|OC5'wk]t"-5'@` M   BVCDEF//C>7+ !!*0$4>=LCTOV]SkJw<~+~wk]Zdm!r-t7r@mEfH]ES>L5G= 6-! !2AMTC`d@` (C @  C  O    BCQDEFg QQQQ @`9+S   BQCDEFg QQQ @`+   ByCfDEFg f8GyQf @`SS    ByCfDEFg yQQ(fy @`S !  BC*DEFg *** @`> " BC2DEFlle-i)p'w)z-w0p2i0e-F-J)Q'X)[-X0Q2J0F-z||z[_elple_[<@FMQMF@<")040)"  przzrpQT[beb[TQ45<EFE<54&)&@`@`@`@`@`@`@`@`@`@`@`@`u9 #  BC*DEFg *** @`)$SL $ c $g S9 % 6$8 P M Material Flow$ F & S > ' 6(8x DVISA$F (  BCMDETF^MMJC9-!  !-9CJM,0@`G.F )  BCMDETF^MMJC9-!  !-9CJM,0@`G * 684G ?" + 68EU  K Credit Flow$ @ , C nL - c $%p . # BXCDE(F4g  dddZXX9Z9Z@`@`<p / 6,8OZ  HSupplier$ @ 0 C   L 1 c $ %  2 # BXCDE(F4g  dddZXX9Z9Z@`@` <  3 68 O  HSupplier$ @ 4 C  #  L 5 c $ :  6 # BYCDE(F4g  dddZYY9Z9Z@`@` P  7 68  J Wholesaler$ L 8 c $* p 9  BC@DEF"+@@+\+@`n F : S G z pF ; S z p6 <  BRCfDELFVg 4!"0>JQ!R4QEJU>a0f"faUE4(,@` 5 ;J = # "BsCDEPF`g zz +s+s  +-0@`@`@`@`; E > 6h88 H Z  HRetailer$  ? zBGCDE FmG@ @ xB\C[DEF\,[ @`X A zBCDE Fm@  B xB[C[DEF[,[ @`   C BCDEFm @^  g  D xB[C[DEF[-[ @`:  c  E zBSCDE FmS@g )h  F xB\C[DEF\-[ @`: z  G zBKCDE FmK@  H xB[C[DEF[.[ @`l I BtCDEFmtt @a  J xB[C\DEF[,\[ @` K 68" *  DCash$ L 6l8 *r  DFlow$ M 6l8"   EOrder$ N 68  g  DFlow$ O 688x IK  I Schedules$ > P  BFCDEPFZg SFFS%=/$!$h/D=#ShukEu!hS*,@`, c :B Q 3 e ij @B R C m ij  S xB\C[DEF[/\[[ @`e : @B T C m   U xB[C[DEF[.[[[ @`e  j V@ BG/*1?  j W BG/*1?  Ix X c $8`  8 H  0}a ?   ME11 (   X 1  0   x   c $8`  8 F P =     P=    H ?P}gQ FSupplier" r2   B 3o?lp|`   H ? c  FSupplier" r2   B 3Ԕ? |    H|  ?0G FSupplier" r2   B 3Ԕ?=\   H  ?PP' G Inventory"  x2   H Ԕ?`  rB   BD?     H ? =  G Inventory"     H ?   I Distributor" x2   H Ԕ?@ r   B 3Ԕ?     H ?   G Inventory"     H ? ,  G Inventory"     H" ?B   J Manufacturer" r   B 3Ԕ?|3 # x2   H Ԕ?I ` x2   H Ԕ?+ L ~B   NDo?`` ~B   NDo?` ~B   NDo?   xB   HDo? p    Nd( Ԕ? :Customer    N, Ԕ?& 8  :Customer    N / Ԕ?   :Customer ~B   NDo?  ~B   NDo? ` xB   HD?` `  !  H3 ?  ] `Market research data scheduling information Engineering and design data Order flow and cash flowaa "  <d7 ?&  vBIdeas and design to satisfy end customer Material flow Credit flowCC~B #  ND3o?0 ~B $  ND3o?  ~B %  ND3o?~B &  ND3o? ` ~B '  ND3o?P0~B (  ND3o?  ~B ) B NDo? ~B * B NDo?~B + B NDo?@ ~B , B NDo?@~B - B NDo? ~B . B NDo?~B / B NDo? `xB 0 B HDo?H   0}a ? f̙33    j b ..(b(  ([F  (  2 ( BCqENG:H$I*QJ<Q qkSqkS*Q<kS*Q</# 2 ( C7ENG$H\I`TJ Q333333 r2u67r2u67`T 67`T ; 2 ( BENG\H:IMQ̙̙̙ [3O[3OM`T3OM`TD  ( 6@ 3r  E11%& ( 6   ( 6QMdr  I Dir Wages$ T ( c $̙̙̙5 "  ( 6VM   EOther$2 ( BCjENG4:HUI`TJ <Q j mj m`T < m`T < [ 2 ( BHCkRENGUHFIHJkRQ333333 s 3˦'6s 3˦'6HkR'6HkRM 2 ( BXMENGFH4:IQ̙̙̙ ofXMVofXMV`TXMV`T s  ( 6[ =  E71%& ( 6_  E16%& ( 6tc p -  E13%&T ( c $fffx T ( c $U B  ( 6gm*   DCOGS$T ( c $333333 B  ( 6km{ 6M  GPayroll$T ( c $̙̙̙ B_ ( 6$pm  EOther$2 ( BCťENG4:H3I`TJeQQ ť[&>ť[&>`TeQ[&>`TeQ  2 ( B'ENG3HI:Q333333 j'j':`T':`T r 2 ( BI;CRENGH4:JRQ̙̙̙ 7`TFI;7`TFI;RFI;R s  ( 6t b  E83%& !( 6y 3 D9%& "( 6| E  D8%&T #( c $fffxT $( c $hB %( 6|m= DCOGS$T &( c $333333B '( 6xm6_ GPayroll$T (( c $̙̙̙Br )( 6m EOther$ *( TȔ$C$C1?q q Manufacturing*(2  +( T`$C$C1?  q Wholesale. (2  ,( T$C$C1? ~ =  jRetail*(2r -( S d`   M .( B jJ?   Source: U.S. Department of Commerce, Bureau of Census, 1987 Census of Manufacturers: General Summary of Retail Trade (Washington, D.C.: Government Printing Office, 1991) 2H ( 0}a ?(((((((( ( a      0 (  0R 0 s *` x 0 c $`   r 0 S     0 0 :  TPrimary Selection Criteria0Z2F  `` 1  0 `< 1  0 0`  _%Supply demand at lowest possible cost&0Z2& 0 0@ 0 1  SSelect primarily for cost0Z2 0 <H `E <Low Cost F  `   0 `P J   0 0h u  IRespond quickly to changing requirements and demand to minimize stockoutsJ0Z2J  0 0ă   o5Select primarily for capacity, speed, and flexibility60Z26  0 <hǃ `|  <Response F `P   0 `P  0 00˃  u;Share market research; jointly develop products and options<0Z2< 0 0΃ P  i/Select primarily for product development skills00Z20 0 <p҃`? QDifferentiation&H 0 0}a ? f̙33k      8 (  8X 8 0` x 8 c $4ۃ`    F `  8 `P  8 N܃FEFE  \Process Characteristics &Z 8 0  [!Maintain high average utilization"0Z2" 8 <@p` JLow Cost&  8 0P @ j0Invest in excess capacity and flexible processes10Z21 8 <F `  JResponse&   8 0 t:Modular processes to lend themselves to mass customization;0Z2;  8 0i p  SInventory Characteristics0Z2  8 0l`  t:Minimize inventory throughout the chain to hold down costs;0Z2;  8 0$P j @  IDevelop responsive system, with buffer stocks positioned to ensure supplyJ0Z2J  8 0j PX  o5Minimize inventory in the chain to avoid obsolescence60Z26 8 <4`? QDifferentiation&H 8 0}a ? f̙33    g _ @ (  @X @ 00px @ c $`    F `{z @ `{z @ NxFEFE  ]Lead-time Characteristics &Z @ 0 n q7Shorten lead-time as long as it does not increase costs80Z28 @ <dk` JLow Cost&  @ 0K ; l2Invest aggressively to reduce production lead-time30Z23 @ <xA `  JResponse&   @ 0P!{ m3Invest aggressively to reduce development lead-time40Z24  @ <$`: QDifferentiation&  @ <( ?   VProduct-design Characteristics 2  @ < , ? :  f&Maximize performance and minimize cost$'&  @ </ ?A kz MUse product designs that lead to low set-up time and rapid production ramp-upNN @ <3 ?Kd NUse modular design to postpone product differentiation for as long as possibleOOH @ 0}a ? f̙33  0H:( G Hx H c $9`    H S ?P    H H 0}a ? f̙33   @8@P(  P P C xK$C$C1 ? <$ 0  ,@ @`x P c $S`   H P 0}a ?   PX.(  Xx X c $XZ`   x X c $H[E 6  r X S \ 6   X H8] ?[ >Industry  X H^ ?  FPercent of SalesH X 0}a ? f̙33  ``(  `x ` c $l`   f ` s *A ?jJ? H ` 0}a ? f̙33   ph2(   h h C xP1$C$C1 ?`  1 @ h C xn$C$C1 ?3 <$0 1 ,@ @`H h 0}a ? 'OZ]   py(  p p C xv$C$C1 ?`   @_8 `  p`r2 p Bo?  r2 p Bo?VPM e r2 p Bo?of & p Zh{$C$C1?`J  DMaterials Management -High transportation cost -High inventory costsEE% p Z$C$C1? cK CSupply Management -High costs -Scarcity: national or internationalDD+  p Zԋ$C$C1?3 0  ISource Management -Unique items -Custom-made items -High technology itemsJJ  p Z$C$C1?Wh P  9Purchasing Management -Commodity items -Standard products::H p 0}a ? 'OZB2   11EExj1(  x08 `" Ex`"Z Dx s *` T x c $ok M x 6<  I Receiving$  x 6\U> DDock$V x  &BCDEXFboY'nc]]Wc#nd1^..0@` x 6ȩY HPurchase$  x 6F> EOrder$V x  &BCDEXFboZ(na[[Xa$ne1_/.0@`-    x 6D   GPacking$  x 6W y4 /  DList$T  x c $o7 @  x 6 O  EOrder$  x 6di| J Processing$ V x  &BCDEXFboZ~*ma[[Xa$m~e1a/.0@`v[ *  x 6Å i  GInvoice$V x  &BCDEXFboY}'la[[Wa#l}d1^..0@`H  x 0DžcDl TReceivables Report&V x  &BCDEXFboY'na[[Wa#nd0^..0@`C l  x 6D˅ x  ECheck$T x c $ov E  x 0υ <  UAccounts Receivable&T x c $o .  x 0ԅp :,  RAccounts Payable& x tBCCDE FmIC@  x B\CQDEF\(Q @` 7 x 6@؅E 8  HMail( x zBC4DE Fm4@;<HB x C m;+<{BB xB 3 mBB xB 3 mBBB xB 3 m5BB  xB 3 m  BB !xB 3 m ( BB "xB 3 m u BB #xB 3 mi  BB $xB 3 m  BB %xB 3 m \  &x B[CRDEF[R([[R @`k d  'x tBCDE Fm@x (x B[CQDEF[-Q[ @` H )x tBCDE Fm@d  *x B[CRDEF[-R[ @`[   +x tB]CDE FmW]@   ,x B\CRDEF\)R @`\ C  -x tB\CDE FmU\@ '  .x B[CRDEF[)R @`\ v  /x 6y l  HMail( 0x tBCDE Fm@; <}  1x B[CRDEF[.R[ @` r h  2x tBCDE Fmh@;<  3x B[CRDEF[.R[ @`  h[  4x BCDEFm22R2 @0 5x xB[CRDEF[R*[[R @`XT 6x c $o' E  7x 6XF$   I Reconcile$  8x tBCODE FmJO@. }  9x B[CRDEF[-R[ @`r   :x # BCDEFocc{qj`RB3%DDa&4 DU cmr%3 BR `jq{      !/> N ]irvri]N>/!@`@`@`@`- Q _ ;x zBCDE F@ , = / !)@  4 =x B]C2DE0F8 ])]!XL >/ !)2@  = >x BCDEFm22 2 @0vB  ?x B[CRDEF[R*[[R @`X @x 6 A  HMail( Ax T@$C$C1? `Customer (2  Bx T$C$C1?( " `Supplier (2 r Cx S HP0   H x 0}a ?    2(    C x,$C$C1 ?`   @  C x$C$C1 ?3 <$0  ,@ @`H  0}a ? 'OZ  G(    C x<$C$C1 ?`   @  C x$C$C1 ?P J   ,@ @`  C x<1$C$C1 ?& z   ,@ @`E  N$C$C31? / Reasons for Making Reasons for Buying20,$H  0}a ? 'OZ * ,G(  , , C x2$C$C1 ?`   @ , C xt?$C$C1 ?P J   ,@ @` , C xA$C$C1 ?& z   ,@ @`E , N1$C$C31? / Reasons for Making Reasons for Buying20,$H , 0}a ? 'OZ   *( P   C xZ$C$C1 ?0H <$ 0  ,@ @`p  HA1?`    Tx]$C$C1?} ^  \Plan 2  Z c$C$C1? g<W h 1995 Corel Corp. x  c $j`   H  0}a ?   *(  x  c $pS`   r  S :`C   H  0}a ? f̙33   $(    C xtz$C$C1 ?  <$ 0  ,@ @`  ZA1))?  XP :߿ ff(ee˲\\==(忿˲˲忿\\==ee˲ ff  Z$C$C1? 4  h 1995 Corel Corp. x  c $t`   H  0}a ? $   L(    C x<$C$C1 ?`] <$ 0  ,@ @`  ZA1))?P D   T$C$C1?u P  f 1995 Corel Corp. x  c $h`   H  0}a ?   :(  x  c $``    0 6A ?   H  0}a ? f̙33R ,  4( t 4l 4 C ``   r 4 S  s   l 4 C P Ps   H 4 0}a ? ff333    3 + 0 ( TTTľTwLgccSSƚr@e< .Uӳz*Vf\#aUYQd_T-uuOFXMGu % 9%`yc4H.ejoKfþ0q%SgHg3.lvP1ކv;̷pd 5:s<4pAm$;K$@3O4lK0@ pX )Z$Ӛm`%#o\ۍk"jk[qRnD>пO7Li5I2UT޾yQ{=w#xxi66,/k!8܍c:s?Ux[[[[[]2ltF(XZ`}~,d(*(0>F vv(͝ F ͂> EF4ʪ}b\fʯZd]k_ό YLbUL?cw2x,X;[ȠoesT5rxM 2_YWr@aqǍ Zg-1%QrK_5',Yev!ӣbyTc!qџ3e'GgӉC)mzk0-|^FBW*}E=#ҌF{B؛FvwBW 5I{e}_<3:=2:5ȏ%Oہr,?Ȝ9><3:s;zAW1Զ5ͣ;?~=ڃѷLN㫀*h݁tm>zuM/lH/epj۟Y#.nyZ=q6=fvug?-=U | Q{gz>?3/8liX1)NaӅf4 }?{YI1{8k5ZVJ<[?jB{:f>)"< +Y *y&V0bVӓm5x;~ׄ 搿_*|sh$[{5/[ޣ,7[ Ώcf|Q(a%֨ccO-E9z97o ]c/c>o쭚]5=2tcǾ9j{OƾzBk'Ǿfc_Ա/_Fy[cؗ`:Ve^n7=kYkr=.Kk<my!XCz y. ! ymznQI)zm~XT Jy5oŬS=J\ʃ?e]:n?!sV"ՠ_9_rB"z>7y+z5W؜B.xn,)/qC1_b>9O?H\(t) ˺~tп!+jЯ:tqKe=uC?eOYS%%ea+|Ɋl_~BMtmH\S7Su8l5Φ|يn!-h+? I(2쌕gUJӳ׌UJsUJ~ӳUJ݌ƦUWU*Ό5OUY\2r9kȚ”9CL0?p5`ӆǜjeV5vV;pVH$(VP]s Ff;j *kȬ j$NvHP`掀 FB@P`掀 FbwՎ; ,T`YAԬ@`W{o8 ,T`YAԬ@}g%@ (V@֜YApV#dgw{מڱG"~R\9@[eHY6sa:+Y6 %d1NHHPY0D[zĢr8!A\V AetVm+/HaK1)=5VTcq$ $a2'$ $\ @V,!qB^@ ΅ $a2'$6 $\ @V,!rB@ ΅ $azSZzZY|`+*+X,`>Be ւG`ÊUV,xX :0k]#TVa*Xs| <k&PY`=_jXb 9DYAYYsZP`>jD Ԏ; +kȬ j$N +kȬ j$v!A ;2+Y;V+X# X]9-(VX]sG@fQ=9-(VH֜YApVsZ}WGXs,/W2ЖgER| {MgFB , z= *+8h^PXTmTVp>BgֽrVSQcI5G @Vp8!AV Ae#tVmհ z݊ *+8h+\ d>NH+lHPYD[D5!rB@ G $a|XI`-=-HCR =dE+ hѩ`Z =XEkjѩ`:Pց =̮Ekvmѩ`ÜU =Ek&hѩ`UL m ZUQ/*I+ئˬ j$VFli[`.]C`9X6]fQ#ݵ8A`.X XA?VMYAH`W- X 'u`.XZK@ȅ?VMYApVdgg{ggmX=/Kr,my$e tVmݳlj=3Jbh+-:D[zĢ8!A\V Ae[t:+$+I8tVmհ[ jmTVEh+Jx׭h+-:D[D5VBF[l $a2 '$\ $`NgV Q +g>Ag-V Ae򕤕dTV0! HZY@6Je֤fTV0aJZ+V6JeցdTV0avMZk6Je欤5geTV0a&HZ3A6Je|eհ?Vp"bD ٪Ύ?-=/'2/ߏn x FBv EQD 'x\/8yAH`G-x\/8yAH`MEQD݊= /'2/ ⪼=/Ǘ2y<#GʳF ںԊf$4FcWh+(D[Ģ2Fl.h+(D[ ~xRLJOE#UY :/jx1BD[F $mT^0h+#d>NHklHPyl @^p9!AgV AQ:/jx1B&@[ܥYCb|%JW;+s8ϊIvugS9+/~;O<gp"ƤE3zޕ.? KĘ=0&%3sV*Xҝ'DY1)nj\cF¿-<1&bFE$I8f/ge}43/t13z)"aLJ19+?/~w;O<"Ƥdz3z&2I? JĘ/[19!=Y9'?njme_3^ۏC?[~`ZԽlL"=z:q(?9<źWDZUJrG+z^ࣁbQ4XyJ8hbN; gmdzfŐ>ޖVo)m7<3aV6?v|w?~DMc~cXc/gM{Jvn~1?7?en+]Jaq|>^l3k> |16ϦiѩD~,10|斁r,?Ȝ9><3:iƧ'f8=:LgΎmZ7. {@.a@q<840,`uٚњɚš%"YMь/Ҍ/ь/ь/Uь/ь/0`Bz54l4M4-44C๦uv=fCj{q?J?<<r(AGAFXZ@n9r{/}hk]j !Ʒ^kn{['_} @A|$k7Ar 3 > waŋ,yv/y{G$ B7I760=~~5VX{rþ+7l~gˆko4VkՐT3KUc,1Я 철7g roAy6/  ?)@>Yㇹ& 6\6$@ rfЕzk3KPUwA/^q}4)?]+\usoB񅛯y\׶l=p8 Oz'_*c_ǛmOw) 8qqf!ƙ"Ӭ?~m͊8b!ի?lsȻMfm d"exT$>~,?˦V;cv1~L~l6q8?},ahٴ~zzzzzzz[gy6NI6ʦ,0'0f;@7ӆf^m?`~$5~R&^oήtaI\G7ig98Qqh_<8\ H6"Fƹ#:[`} O&R'Fs?̯L4Fp~@\` @ld2218`10 @Z1< F(`Q0 F(`00F8 ^xmlޝvlM8#q.}N/Bb!C#>*r/ݻ5wg\ E VQEA-VMP*QHhEEVH+$ U* ̬ow#Dٷz7of罙y_m3/ 8VTH4E :U_.|࿈bWaC9J*Qg35\`5b5N=kC: |##7 6"nB r1q+b6vQDžC`ǹ2fa z-/N@ex\O0:ۧ &eTEOϭi+ /YOqa a?6'%U$BO~|B-N ?0Bߌhm;w!ބ؎؁7#܆؅؍_e|ɠy*;m05rV"qO<ө!!i,Οy5RP1~_Keɞw4JI[ݓ 5"XV۫[d7I GUfk]=T eЎ P5}5cYU(~>V̔}ՍW/oF*΃d %Wbjw_8dpS=T reBzo.g U$Mvv+BJW.ýw3tw7}3hM:,b(){I>Q<y(ЎBҋ<%A~P2UQ_{io4ɚ{߽M1bQlS>5q8l9N`z-)1&t؎ >*ZcuRS'g4.A0^UU rƉI h=Z%hC7)ՋuXNծ|ȸ{YTצ` 72$D9@SS:Џ:4NM0n]p\p\p;9'u'r4 QviS߈"[O`2ѣ eޑIsFvBI7hGKei.N#JjeiƣCĻN2JLq#JfvƇ9C_FQ;3ʇf*׏<0r$W:7ɴMw{}OS։lh'q4jQ_JO+7c6z\ nթ DY9_zZsRp_-Zw.˗ zq JԃFD;413.&;fծm5)n|d>JÁŒ>D'G+oTr4O.<7sɡ+:iV1S_9ђr$t QVNONA5tS\1ls;lg8[S:od'z/eZBQ&{?Dq_JtpxB#n,2wBSnXoiyO %ty_Lspc<O}"Է>YߟipƢkzi}鎠Ƃ%)~9UNX 5imZCG!}ftc kݯ6wKǂbifICjzժW2#)c ߎEL!9>;+/ 傗c4)SpOh CYV50xT҉9%5⵨ a_AW>E*-gޖo8Vb:ނ‛65AiM?+ xTn@*zOPo r@ Fe[,R]kw OoP#1H@SN@>kvfg|t!0r2UUUU-L>>ij)%v^y[nX|O߽MnYDkQSMĂߣsgx6u[mNҞ0Hj\ u!f%m[k6K%[;;Z>7EWeWܰI>gp)kqbń.2̤R{0 a0G?awa|<`BpLq*NSw{`"2R owL7AyL Kd"rbO!#/A^ y9 ȫ+C#F^Ҳ7"W#_:r r r-rr>:q;|#M7#oEŒHnH_62P0+ay?N.lهnmr#kqďlfSt-z-Zhv?g" 5qS;t۱{a?rm?4'% :xcJLF/(c9 H%Tg%1؛K9=TUb0vD?#p&b/~K87]DTv">#e\][ͩ<[-A<]B>(> ⨛f']h2#azސLQqߨɻ5մ"Og_Le8^e~7j&o/?FcH/~CqKQ؈ މc4 C5H7L,U{qHu7cw[][b8:bovL8(m뙛|.|fO:1OiTN]S 9Kc c/15.bh? #<#<#>v$ U. qu~9h-1hM+|2*c݅ Z׈?>-C'#r{ntB 0(23r,zk>++WaZ?`g\ҸJκ`]YJcPDjP8cPC(*9~O9<]^+|D2ws'?6k]IZuLĎ BmݽPxwZ(k5YC:z4:ľڳZvH52p1(tDϠ$fIdlDf$fJ(@2gGUsQ~E|YE1;foc.nJoeuAYw&;i\7 % luvj{Y[M,[}*mVsD5rDm+-w,dp_FVVXJnbU $bi$f,Hcd\,dgkeUsߎX"><ħϏF;~9##~NJog R͊,,Qxn=tLu&R[,,m3T"kU- ]ekmy4H{?4O\H5AԒCF}]o0 č?l>iՒ@`j!avrV& -ʾf>a?IMKcd\l>c3ɺ[%Y?L|d\lvv|3<"~9gpyE{b׍ 6o\T* wE}ӞN;=_LoZU n#"Ut'S;P*<@qlϗ*E6~x.x𥢺d ~T VT|%Y!Y?u >꒬򟋺I~5*'X u >꒬򟋺I~5'X U&\Q.gŽE ;ao?jrQ̠.}]P*%Z(0uSCt3܋nw)ź/nY1 b3+k{U7j# 3wJŖ E}-7"555Uu9Ȟ;21['IVdQ$&ҥD.GM>$TUs8jdg#*Hwq;>Hw?q;~HwѿqHwqH@uAYu4OW2E, Nf~'&iˣj[cT#}--0cg.jd.u!EFYLx{4[ux!Y?oxKnƋ?IVۣ>ޒ1N.ގQ;>/3IVWOke&?6|)&w^u1Gq/یd~Xni3৳6ؿP̝+G]Q{6'Y_=!d㧳6W6xǛQoxeүM~lf~3U, m|zg j>á_ z^V_[C]{iorX0|&x+MSS%#ވc{RՇ׌|u _b?R^ZSVby p |uǿ Zl}3w}J:̣ǹ-?VY JKwt_WNx{dt׆fK3Zo6ʆTMzԤ>M3+,/h~(rJbM}2Ui L\`7"G y?r D~/ Oȗiyoěw*rxK^ϵOUL:2F*7k䈁}8#vYGLL:lޚqgv?s^9ߝ9pαQR[R{vg4J>_8칵-$_' XaH{ȫ`N>0 =6jT"WOWPϩ;9ywWOp_{:5 ㏁\|E'Afp~ 3 ߋ@s-=j46~\9P0*~R?Di7C  K8BE \"$Y&)+a[r@-/ky1=pM3- CnhOh+'0 px0 HT t  &Chapter 1, Heizer/Render, 5th editionosOperations and ProductivityJohn SwearingenCC:\Program Files\Microsoft Office\Templates\Blank Presentation.potJohn Swearingen109Microsoft PowerPointoso@{:@@ Vc@ Gn  /d& &&#TNPP2OMi & TNPP &&TNPP    --- !---&G&hw@ bwbw0- @"Arial Narrow bwbw0- .92 Q!Transparency Masters to accompany . .2  Heizer. .2 )/Render . . 2 S. .[2 Q8Principles of Operations Management, 5e, and Operations   . .2 QManagement, 7e .&J&  .d2 S> 2004 by Prentice Hall, Inc., Upper Saddle River, N.J. 07458 .&!& @"Arial Narrow bwbw0- . 2 11 . . 2 -1. . 2 11 .--/zG-- @"Arial Narrow bwbw0- .2 ! Operations 9-))--). ).2  Operations 9-))--). .2 g Management=)-(-)A(-. ).2 d Management=)-(-)A(-.@"Arial Narrow |bwbw0- .2 Supply  . .2 Supply  . . 2 K-1. . 2 I-1. .2 [Chain Management# (+. .2 YChain Management# (+. .2 Bd Chapter 11# . .2 @b Chapter 11# .--"System 0-&TNPP &oocument Word.Document.80.Microsoft Word Document/ 00DArial NarrowLкv 0( 0h"DSymbolarrowLкv 0( 0h DArialarrowLкv 0( 0h"0DTimes New Romanкv 0( 0h ` .  @n?" dd@  @@``    h[\     GP m X^< T>VD X2GG,N,NP6TV<WZVDXXGXLbXXZ,N8'346$R     4 5Z7/ :#! j?& AF,.6: I!&> B#M%G&I'LN)P*R+T,U-V.X,"@YZ[\]^_`abr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY 2$?q Ig~|tc $ f̙f33@̙ g42d2dv 0 p p<4dddd` 0LѺ1g4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =Q=    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainTVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesT8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your   !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root EntrydO)J^KM) PicturesCurrent User!2SummaryInformation(H     0 !"#$%&'(./123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~PowerPoint Document(b*DocumentSummaryInformation8U(@   ) Ǻ2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt GalleryL0 Document Word.Document.80.Microsoft Word Document/ 00DArial NarrowLкv 0( 0h"DSymbolarrowLкv 0( 0h DArialarrowLкv 0( 0h"0DTimes New Romanкv 0( 0h ` .  @n?" dd@  @@``    fdZ[     GP m X^< T>VD X2GG,N,NP6TV<WZVDXXGXLbXXZ,N8'346$R     4 5Z7/ :#! j?& AF,.6: I!&> B#M%G&I'LN)P*R+T,U-V.X,"@YZ[\]^_`afr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY 2$?q Ig~|tc $ f̙f33@̙ g42d2dv 0,p p<4dddd` 0LѺ1g4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =<    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainTVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesT8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ n PurchasingAcquisition of goods & services Activities Help decide whether to make or buy Identify sources of supply Select suppliers & negotiate contracts Control vendor performance Importance Major cost center Affects quality of final productn+ 3 + 2(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Purchasing StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+'Purchasers Ties Themselves to SuppliersTactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  ', Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N )"   N-!Vendor Selection Rating Form."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Price('  HService Delivery on time Condition on arrival Technical support Training>A@/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractp  fuff(0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse space2&Materials ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CDEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0  *(  x  c $8`  8 r  S l83  8 H  0}a ? f̙33   56 C(   x   c $8`  8 8     6    ` 1  0   r2   B3o?lp|`   H ?P}gQ FSupplier" r2   B3Ԕ? |    N ? c  FSupplier" r2   B33Ԕ?=\   N|  ?0G FSupplier"    N  ?P` G Inventory"  ~2   N Ԕ?`  xB   HD?     N ? =  G Inventory"     N ?   I Distributor" ~2   N Ԕ?@ x   H 3Ԕ?     N ?@   G Inventory"     N ? ,  G Inventory"     N" ?B   J Manufacturer" x   H 3Ԕ?|3 # ~2   N Ԕ?I ` ~2   N Ԕ?+ L B   TDo?`` B   TDo?` B   TDo?   ~B   NDo? p    Nd(fԔ? :Customer    N,Ԕ?& 8  :Customer    N /fԔ?   :Customer B   TDo?  B   TDo? ` ~B   ND?` `  !  N3 ?  ] `Market research data Scheduling information Engineering and design data Order flow and cash flowaa "  Bd7 ?&  vBIdeas and design to satisfy end customer Material flow Credit flowCCB #  TD3o?0 B $  TD3o?  B %  TD3o?B &  TD3o? ` B '  TD3o?P0B (  TD3o?  B ) B TDo? B * B TDo?B + B TDo?@ B , B TDo?@B - B TDo? B . B TDo?B / B TDo? `~B 0 B NDo?Z2 2  s *dT $ Z2 3  s *P `  Z2 4  s *( Z2 5  s *<H   0}a ? f̙33M      0 (  0R 0 s *̙` x 0 c $`   r 0 S     0 0 :  NPrimary Selection Criteria0Z2F  `` 1  0 `< 1  0 0`  ]%Supply demand at lowest possible cost&0Z2& 0 0@ 0 1  QSelect primarily for cost0Z2 0 <H ` <Low Cost F  `   0 `P J   0 0h u  IRespond quickly to changing requirements and demand to minimize stockoutsJ0Z2J  0 0ă   m5Select primarily for capacity, speed, and flexibility60Z26  0 <hǃ `R  <Response F `P   0 `P  0 00˃  s;Share market research; jointly develop products and options<0Z2< 0 0΃ P  g/Select primarily for product development skills00Z20 0 <p҃` ODifferentiation$H 0 0}a ? f̙33Y      8 (  8R 8 s *̙` x 8 c $4ۃ`    F `  8 `P  8 N܃FEFE  fProcess Characteristics 0Z 8 0  Y!Maintain high average utilization"0Z2" 8 <@p`w HLow Cost$  8 0P @ h0Invest in excess capacity and flexible processes10Z21 8 <F `  HResponse$   8 0 t<Modular processes that lend themselves to mass customization=0Z2=  8 0i p  MInventory Characteristics0Z2  8 0l`  r:Minimize inventory throughout the chain to hold down costs;0Z2;  8 0$P j @  IDevelop responsive system, with buffer stocks positioned to ensure supplyJ0Z2J  8 0j PX  m5Minimize inventory in the chain to avoid obsolescence60Z26 8 <4` ODifferentiation$H 8 0}a ? f̙33_      @ (  @R @ s *̙0px @ c $`    F `{d @ `{d @ HxFEFE̙  gLead-time Characteristics 0Z @ s *̙ n o7Shorten lead-time as long as it does not increase costs80Z28 @ 6d̙k`r HLow Cost$  @ s *̙K ; j2Invest aggressively to reduce production lead-time30Z23 @ 6x̙A `}  HResponse$   @ s *P!̙{ k3Invest aggressively to reduce development lead-time40Z24  @ 6$̙` ODifferentiation$  @ 6(̙?   PProduct-design Characteristics 2  @ 6 ,̙? :  b&Maximize performance and minimize cost '&  @ 6/̙?A k  MUse product designs that lead to low set-up time and rapid production ramp-upNN @ 63̙?Kd NUse modular design to postpone product differentiation for as long as possibleOOH @ 0}a ? f̙33  0H:( G Hx H c $9`    H S ?P    H H 0}a ? f̙33  PX.(  Xx X c $XZ`   x X c $H[E 6  r X S \ 6   X H8] ?[ >Industry  X H^ ?  FPercent of SalesH X 0}a ? f̙33  `Dib0 I(  `x ` c $l`   @ ` C g@ ` C gs@ ` C s@ E` C g@ J` C sT@ K` C T_@ R` C _A@ S` C AL@ Z` C L. @ [` C . 9 @ b` C 9  @ c` C  & @ j` C & @ k` C @ r` C @ s` C @ z` C @ ` C g@ ` C sT@ ` C _A@ ` C L. @ ` C 9  @ ` C & @ ` C @ ` C @ a C " g# @ a C " sT# @  a C " _A# @ a C " L. # @ a C " 9  # @ a C " & # @ a C " # @ #a C " # @ Ta C X gY @ Ya C X sTY @ ^a C X _AY @ ca C X L. Y @ ha C X 9  Y @ ma C X & Y @ ra C X Y @ wa C X Y @ a C  g @ b C  sT @ b C  _A @  b C  L. @ b C  9  @ b C  &  @ b C   @  b C   ɵ8   ib H ` C gH ` C gH ` C s ` <(` h*Percent of Sales Spent in the Supply-Chain"+*H ` C sH  ` C BB  ` 3 H  ` C BB  ` 3 BB  ` 3 H ` C gBB ` 3 gBB ` 3 gsH ` C gsBB ` 3 gsBB ` 3 ghH ` C sBB ` 3 sH ` C BB ` 3 H ` C BB ` 3 BB ` 3 H ` C BB ` 3 H  ` C gsBB !` 3 ghH "` C BB #` 3 H $` C gH &` C grH (` C rg*H *` C *gH ,` C sT -` <s8 A30%"H .` C sTH /` C _A 0` <4p8 A40%"H 1` C _AH 2` C L.  3` <d2  A50%"H 4` C L. H 5` C 9   6` <1   A60%"H 7` C 9  H 8` C &  9` <x1   A70%"H :` C & H ;` C  <` <g1p A80%"H =` C H >` C  ?` <P1q A90%"H @` C H A` C BB B` 3 H C` C gBB D` 3 gH F` C gsBB G` 3 ghH H` C sTBB I` 3 sTBB L` 3 T_H M` C T_BB N` 3 T_BB O` 3 TUH P` C _ABB Q` 3 _ABB T` 3 ALH U` C ALBB V` 3 ALBB W` 3 ABH X` C L. BB Y` 3 L. BB \` 3 . 9 H ]` C . 9 BB ^` 3 . 9 BB _` 3 . / H `` C 9  BB a` 3 9  BB d` 3  & H e` C  & BB f` 3  & BB g` 3   H h` C & BB i` 3 & BB l` 3 H m` C BB n` 3 BB o` 3  H p` C BB q` 3 p q H x` C BB y` 3 H {` C BB |` 3 H }` C BB ~` 3 H ` C gsBB ` 3 ghH ` C T_BB ` 3 TUH ` C ALBB ` 3 ABH ` C . 9 BB ` 3 . / H ` C  & BB ` 3   H ` C BB ` 3  H ` C BB ` 3 H ` C g ` <ni ?2"H ` C g H ` C sT ` <n C$2.78"H ` C sT H ` C _A ` <l n C$3.23"H ` C _A H ` C L.  ` <nr  C$3.85"H ` C L.  H ` C 9   ` <(n_   C$4.76"H ` C 9   H ` C &  ` < nL   C$6.25"H ` C &  H ` C  ` <`!n9 C$9.09"H ` C  H ` C  ` <\#n& D$16.67"H ` C  H ` C BB ` 3 H ` C gBB ` 3 gH ` C gsBB ` 3 ghH ` C sTBB ` 3 sTH ` C T_BB ` 3 TUH ` C _ABB ` 3 _AH ` C ALBB ` 3 ABH ` C L. BB ` 3 L. H ` C . 9 BB ` 3 . / H ` C 9  BB ` 3 9  H ` C  & BB ` 3   H ` C & BB ` 3 & H ` C BB ` 3  H ` C BB ` 3 H ` C BB ` 3 H ` C BB ` 3 H ` C  BB ` 3  H ` C gs BB ` 3 gh H ` C T_ BB ` 3 TU H ` C AL BB ` 3 AB H ` C . 9  BB ` 3 . /  H ` C  &  BB ` 3    H ` C  BB ` 3   H ` C  BB ` 3  H ` C # g  ` <h?n' i  ?4"H ` C  gM H ` C s# T  ` <=n'   C$2.70"H ` C s TM H ` C _# A  ` <0Dn'   C$3.13"H ` C _ AM H ` C L# .  ` <PMnr'  C$3.70"H ` C L . M H ` C 9 #   ` <Pn_ '  C$4.55"H ` C 9  M H ` C & #   ` <\EnL '  C$5.88"H ` C & M H ` C #   ` <HUn9'   C$8.33"H ` C  M H ` C #   ` <Xn&'   D$14.29"H ` C  M H ` C  # BB ` 3  # H ` C  g" BB ` 3  g H a C g s# BB a 3 g h# H a C s T" BB a 3 s T H a C T _# BB a 3 T U# H a C _ A" BB  a 3 _ A H  a C A L# BB  a 3 A B# H  a C L . " BB a 3 L .  H a C .  9 # BB a 3 .  / # H a C 9   " BB a 3 9    H a C   & # BB a 3    # H a C &  " BB a 3 &   H a C  # BB a 3  # H a C  " BB a 3   H !a C  " BB "a 3   H $a C  # BB %a 3  # H &a C # M BB 'a 3 # M H (a C g# sM BB )a 3 g# hM H *a C T# _M BB +a 3 T# UM H ,a C A# LM BB -a 3 A# BM H .a C . # 9 M BB /a 3 . # / M H 0a C  # & M BB 1a 3  #  M H 2a C # M BB 3a 3 # M H 6a C # M BB 7a 3 # M H 8a C Y g  9a <wn] i  ?6"H :a C  g H ;a C sY T  a C _Y A  ?a <\|n]   C$3.03"H @a C _ A H Aa C LY .   Ba <|nr]   C$3.57"H Ca C L . H Da C 9 Y    Ea <n_ ]   C$4.35"H Fa C 9   H Ga C & Y   Ha <}nL ]   C$5.56"H Ia C &   H Ja C Y   Ka <n9]   C$7.69"H La C   H Ma C Y   Na <Pn&]   D$12.50"H Oa C   H Pa C M Y BB Qa 3 M Y H Ra C M gX BB Sa 3 M gN H Ua C gM sY BB Va 3 gM hY H Wa C sM TX BB Xa 3 sM TN H Za C TM _Y BB [a 3 TM UY H \a C _M AX BB ]a 3 _M AN H _a C AM LY BB `a 3 AM BY H aa C LM . X BB ba 3 LM . N H da C . M 9 Y BB ea 3 . M / Y H fa C 9 M  X BB ga 3 9 M  N H ia C  M & Y BB ja 3  M  Y H ka C & M X BB la 3 & M N H na C M Y BB oa 3 M Y H pa C M X BB qa 3 M N H ua C M X BB va 3 M N H xa C M Y BB ya 3 M Y H za C Y  BB {a 3 Y  H |a C gY s BB }a 3 gY h H ~a C TY _ BB a 3 TY U H a C AY L BB a 3 AY B H a C . Y 9 BB a 3 . Y / H a C  Y & BB a 3  Y  H a C Y  BB a 3 Y  H a C Y  BB a 3 Y  H a C  gF  a <ȯn iR  ?8"H a C F g H a C s TF  a <n R  C$2.56"H a C sF T H a C _ AF  a <n R  C$2.94"H a C _F A H a C L . F  a <nr R  C$3.45"H a C LF . H a C 9  F  a <n_ R  C$4.17"H a C 9 F  H a C & F  a <nL R  C$5.26"H a C & F  H a C  F  a <8n9 R  C$7.14"H a C F  H a C  F  a <n& R  D$11.11"H a C F  H a C   BB a 3   H a C  g BB a 3  g H a C  g H a C g s BB a 3 g h H a C s T BB a 3 s T H a C s T H a C T _ BB a 3 T U H a C _ A BB a 3 _ A H a C _ A H a C A L BB a 3 A B H a C L . BB a 3 L . H a C L . H a C . 9 BB a 3 . / H a C 9  BB a 3 9  H a C 9  H a C  & BB a 3   H a C &  BB a 3 &  H a C &  H a C   BB a 3   H a C   BB a 3   H a C   H a C   BB a 3   H a C   H a C   BB a 3   H a C   BB a 3   H a C g s BB a 3 g h H a C T _ BB a 3 T U H a C A L BB a 3 A B H a C . 9 BB a 3 . / H a C  & BB a 3   H a C   BB a 3   H a C   BB a 3   H a C  g|  a <n   @10"H a C | g H a C s T|  a <8n   C$2.50"H a C s| T H a C _ A|  a <n   C$2.86"H a C _| A H a C L . |  a <Dnr  C$3.33"H a C L| . H a C 9  |  a < n_  C$4.00"H a C 9 |  H a C & |  a <rL  C$5.00"H a C & |  H a C  |  a <dr9   C$6.67"H a C |  H a C  |  a <Ln&   D$10.00"H a C |  H a C   BB a 3   H a C  g BB a 3  g H a C g s BB a 3 g h H b C s T BB b 3 s T H b C T _ BB b 3 T U H b C _ A BB b 3 _ A H b C A L BB  b 3 A B H  b C L . BB  b 3 L . H  b C . 9 BB b 3 . / H b C 9  BB b 3 9  H b C  & BB b 3   H b C &  BB b 3 &  H b C   BB b 3   H b C   BB b 3   H b C   BB b 3   H !b C   BB "b 3   H #b C   BB $b 3   H %b C   BB &b 3   BB 'b 3   H (b C   BB )b 3   BB *b 3   H +b C  g BB ,b 3  g H -b C g s BB .b 3 g h H /b C g s BB 0b 3 g s BB 1b 3 g h H 2b C s T BB 3b 3 s T H 4b C T _ BB 5b 3 T U H 6b C T _ BB 7b 3 T _ BB 8b 3 T U H 9b C _ A BB :b 3 _ A H ;b C A L BB b 3 A L BB ?b 3 A B H @b C L . BB Ab 3 L . H Bb C . 9 BB Cb 3 . / H Db C . 9 BB Eb 3 . 9 BB Fb 3 . / H Gb C 9  BB Hb 3 9  H Ib C  & BB Jb 3   H Kb C  & BB Lb 3  & BB Mb 3   H Nb C &  BB Ob 3 &  H Pb C   BB Qb 3   H Rb C   BB Sb 3   BB Tb 3   H Ub C   BB Vb 3   H \b C   BB ]b 3   B _b 3   <B `b #   B ab 3   <B bb #   <B cb #   B db 3   <B eb #   <B fb #    gb 0 LPercent Net Profit of Firm 2TB hb c $D H ` 0}a ? f̙33   ph2(   h h C xP1$C$C1 ?`  1 @ h C xn$C$C1 ?3 <$0 1 ,@ @`H h 0}a ? 'OZU   pq(  p p C xv$C$C1 ?`   @W8 `  p`r2 p Bo?  r2 p Bo?VPM e r2 p Bo?of $ p Zh{$C$C1?` DMaterials Management -High transportation cost -High inventory costsEE# p Z$C$C1? cK CSupply Management -High costs -Scarcity: national or internationalDD)  p Zԋ$C$C1?3  ISource Management -Unique items -Custom-made items -High technology itemsJJ  p Z$C$C1?Wh P  9Purchasing Management -Commodity items -Standard products::H p 0}a ? 'OZ1   11EEx&1(  xt08 `" Ex`"Z Dx s *` T x c $ok M x 6  E Receiving  x 6\Up> @Dock V x  &BCDEXFboY'nc]]Wc#nd1^..0@` x 6ȩYe DPurchase  x 61> AOrder V x  &BCDEXFboZ(na[[Xa$ne1_/.0@`-    x 6D `  CPacking   x 6W y /  @List T  x c $o7 @  x 6 O  AOrder   x 6di| F Processing V x  &BCDEXFboZ~*ma[[Xa$m~e1a/.0@`v[ *  x 6Å i  CInvoice V x  &BCDEXFboY}'la[[Wa#l}d1^..0@`H  x 0DžcDl PReceivables Report"V x  &BCDEXFboY'na[[Wa#nd0^..0@`C l  x 6D˅ c  ACheck T x c $ov E  x 0υ <  QAccounts Receivable"T x c $o .  x 0ԅp :,  NAccounts Payable" x tBCCDE FmIC@  x B\CQDEF\(Q @` 7 x 6@؅E *  DMail$ x zBC4DE Fm4@;<HB x C m;+<{BB xB 3 mBB xB 3 mBBB xB 3 m5BB  xB 3 m  BB !xB 3 m ( BB "xB 3 m u BB #xB 3 mi  BB $xB 3 m  BB %xB 3 m \  &x B[CRDEF[R([[R @`k d  'x tBCDE Fm@x (x B[CQDEF[-Q[ @` H )x tBCDE Fm@d  *x B[CRDEF[-R[ @`[   +x tB]CDE FmW]@   ,x B\CRDEF\)R @`\ C  -x tB\CDE FmU\@ '  .x B[CRDEF[)R @`\ v  /x 6y ^  DMail$ 0x tBCDE Fm@; <}  1x B[CRDEF[.R[ @` r h  2x tBCDE Fmh@;<  3x B[CRDEF[.R[ @`  h[  4x BCDEFm22R2 @0 5x xB[CRDEF[R*[[R @`XT 6x c $o' E  7x 6XF$ h  E Reconcile  8x tBCODE FmJO@. }  9x B[CRDEF[-R[ @`r   :x # BCDEFocc{qj`RB3%DDa&4 DU cmr%3 BR `jq{      !/> N ]irvri]N>/!@`@`@`@`- Q _ ;x zBCDE F@ , = / !)@  4 =x B]C2DE0F8 ])]!XL >/ !)2@  = >x BCDEFm22 2 @0vB  ?x B[CRDEF[R*[[R @`X @x 6 A  DMail$ Ax T@$C$C1? `Customer (2  Bx T$C$C1?( " `Supplier (2 r Cx S HP0   H x 0}a ?    2(    C x,$C$C1 ?`   @  C x$C$C1 ?3 <$0  ,@ @`H  0}a ? 'OZ / T'(  T T C xr$C$C1 ?`  r @ T C x@r$C$C1 ?P p r ,@, @ `@ T C xr$C$C1 ?&  r ,@, @ `@% T N\r$C$C31?7 - Reasons for Making Reasons for Buying&.+,H T 0}a ? 'OZ 0 \(  \ \ C xA$C$C1 ?`  A @ \ C xtr$C$C1 ?P p A ,@ @`( \ C xr$C$C1 ?&  A ,@ @`( \ N7A$C$C31?7 + Reasons for Making Reasons for Buying,,*H \ 0}a ? 'OZ  =5$%(  x  c $``   8 hJ  %hJ   6Ah  HSupplier$   6TcA  J Suggestion$   6Hr8   EModel$  6r  GSavings$  6rh8S FRockwell"    6r8T  TUse passenger car door"   68h Mlocks on trucks"   6h8 8  CDodge"   6z8 r h Dtrucks"   6~8 F$280,000"   6}hS FRockwell"   6W  XSimplify design/substitute"  6dz  Qmaterials on manual"  6zK K window system"   6z8   EVarious"  6tz F$300,000"   6xzh"  @3M"  6ܹz "  VChange tooling for wood-"  6z  Ygrain panels to allow three"  6Pz 2 N  Yfrom one die instead of two"  6z8 "  FCaravan,"   6z8   EVoyager"  6z"  H $1,500,000"   6zh ~,  UTrico"   6A ,  PChange wiper-blade"  6A(   I formulation"   6a8 ,  EVarious"  6`b ,  F$140,000"    6Nh   J Leslie Metal"  ! 68jh EJ  BArts" " 6k w  [Exterior lighting suggestions" # 6\8   EVarious" $ 6B   H $1,500,000" H  0}a ? f̙33R ,  4( t 4l 4 C ``   r 4 S  s   l 4 C P Ps   H 4 0}a ? ff333  %ed!(  dr d S cA`  [ or `P  ed #"* wP  Ad < ?+P  B ?d <d ?w +  XCircuit boards =d <[?+w  ]Distribution System ;d <X[?+  [Forward Integration 9d <1? P  U Baked Goods   7d <Hl8?w   iComputers, watches, calculators   5d <L? w  QDealers 3d <h?   bFinished goods (customers) d <A?rP+ W Flour Milling d <A?w r+ ]Integrated Circuits d <@A?rw + U Automobiles   d <PA?r+ ^Current Transformation d <`A?yPr T  d <TA?w yr T   d <A?yw r OSteel  d <ZA?yr \Backward Integration  d <ط[?Py QFarming  d <[?w y QSilicon  d <[?w y RIron ore   d <S[?y `Raw material (suppliers) d <3[?`P l Examples of Vertical Integration!! d <L)[?` `Vertical Integration`B d 0o ?`P`ZB d s *1 ?PZB d s *1 ?yPyZB d s *1 ?rPr`B d 0o ? P `B d 0o ?` ZB d s *1 ?` `B d 0o ?P`P ZB "d s *1 ?w w ZB #d s *1 ? ZB 4d s *1 ? P ZB ?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ n PurchasingAcquisition of goods & services Activities Help decide whether to make or buy Identify sources of supply Select suppliers & negotiate contracts Control vendor performance Importance Major cost center Affects quality of final productn+ 3 + 2(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Purchasing StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+'Purchasers Ties Themselves to SuppliersTactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  ', Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N *" N-!Vendor Selection Rating Form."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse space2&Materials ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CDEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0!  2da(  dr d S cA`  [ r wP  d #"* wP  Ad < ?B P  B ?d <d ?w B   XCircuit boards =d <[?B w   ]Distribution System ;d <X[?B   [Forward Integration 9d <1? P  U Baked Goods   7d <Hl8?w    iComputers, watches, calculators   5d <L? w  QDealers 3d <h?   bFinished goods (customers) d <A?PB  W Flour Milling d <A?w B  ]Integrated Circuits d <@A?w B  U Automobiles   d <PA?B  ^Current Transformation d <`A?P T  d <TA?w  T   d <A?w  OSteel  d <ZA? \Backward Integration  d <ط[?P QFarming  d <[?w  QSilicon  d <[?w  RIron ore   d <S[? `Raw material (suppliers) d <3[?wP l Examples of Vertical Integration!! d <L)[?w `Vertical Integration`B d 0o ?ww`B d 0o ?  `B d 0o ?w`B d 0o ?PwP`B fd 0o ?wPw`B gd 0o ?`B id 0o ?PP`B kd 0o ?`B qd 0o ?PP`B sd 0o ?B `B yd 0o ?PPB `B {d 0o ?B  `B d 0o ?PB P `B d 0o ? `B d 0o ?P P `B d 0o ? w `B d 0o ?w  `B d 0o ? P XB d 0D1H00XB d 0D1 00XB d 0D1, XB d 0D10 XB d 0D1`XB d 0D1`XB d 0D1 00p H d 0}a ? ff333   h$(  hr h S i `   r h S (    H h 0}a ? ff333   `:(  p  HA1?P "   TL2$C$C1? D  f 1995 Corel Corp. x  c $x`     C xX$C$C1 ?`(x <$ 0  ,@ @`H  0}a ?     @8p( G K   C xǐ$C$C1 ?@-<$ 0  ,@ @`x  c $Ȑ`   H  0}a ? p "  (    C x֐$C$C1 ?   2 ,@ @`  C xې$C$C1 ?K =-  ,@ @`x  c $ސ`   H  0}a ?  # *(  x  c $t`   r  S 03   H  0}a ? f̙33r,Z+ ). Qm ## wZCn](@   ) Ǻ2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt Gallery/ 00DArial NarrowLкv 0( 0h"DSymbolarrowLкv 0( 0h DArialarrowLкv 0( 0h"0DTimes New Romanкv 0( 0h ` .  @n?" dd@  @@``    x_`     GP m X^< T>VD X2GG,N,NP6TV<WZVDXXGXLbXXZ,N8'346$R     4 5Z7/ :#! j?& AF,.6: I!&> B#M%G&I'LN)P*R+T,U-V.X,"@YZ[\]^_`abcdefr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY c $ f̙f33@ g42d2dv 0p@p<4dddd` 0LѺCg4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =D    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainTVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesT8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ n PurchasingAcquisition of goods & services Activities Help decide whether to make or buy Identify sources of supply Select suppliers & negotiate contracts Control vendor performance Importance Major cost center Affects quality of final productn+ 3 + 2(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Purchasing StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+'Purchasers Ties Themselves to SuppliersTactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distriementGoods Movement Options"Supply-Chain Performance Co_>*achonkachonkRn Swearingenmpared  Fonts UsedDesign TemplateEmbedded OLE Servers Slide Titles2butors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  '0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse spaceo2,Successful Supply-Chain Management Requires:DA mutual agreement on goals Trust Compatible organizational culturesp3$Issues in an Integrated Supply-Chain(Local optimization Incentives Large lotsq4+Opportunities in an Integrated Supply-ChainGeneration of accurate  pull data Reduction of lot size Single stage control of replenishmentr5Vendor Managed Inventory (VMI)Postponement  keeps product generic as long as possible Channel Assembly  sends to distributor individual components and modules rather than finished goods Drop Shipping and Special Packaging  supplier will ship to end consumer rather than to seller Blanket Orders  a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship Standardization  reducing the number of variations in materials and components Electronic Ordering and Funds Transfer   paperless ordering and 100% material acceptance, payment by  wire CZC, Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N *" N."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA-!Vendor Selection Rating Form/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(2&Logistics ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CDEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0  0l$(  lr l S x `   r l S 4[ [ H l 0}a ? ff333  @p$(  pr p S  9 `   r p S [ [ H p 0}a ? ff333  Pt$(  tr t S  `   r t S <[ [ H t 0}a ? ff333  `x$(  xr x S l `   r x S L2 `{    H x 0}a ? ff333 &  $(    TA ?1? E X $0!0x  c $`     C x$C$C1 ?3 <$ 0  ,@ @`H  0}a ?  ' *( E@Ex;FE x  c $t`   r  S 0 50   H  0}a ? f̙33 ( JB ( 4EE@Ex;F x  c $@2`  2 8 @r  @r   0p28  ? Typical Firms 2  0t2L EBenchmark Firms8P2j@ @`  @`r Z  s *3@`  - 6`[R  b,Administrative costs as percent of purchases-- / <k[p  @3.3%  0 <[( @0.8%  G <T[R. OLead time (weeks)" H <[= /  >15  I <xG[/$ =8  ` <rARu7 5  YTime spent in placing order" a <tA v\  F 42 minutes  b <wAv-\  F 15 minutes  y <|{AR ^ |  [Percentage of late deliveries" z <|A   ?33%  { <|A& &  >2%   <xJAR   ]Percentage of rejected material"   <IAp    @1.5%   <,DA +  B.0001%   <4ARK  ZNumber of shortages per year"  <,A L 2  ?400   <PAL $2  =4 Z  s *3@ `pZ  s *3@p` Z  s *3@ ` Z  s *3@ `` `  0P  H  0}a ? f̙33r,20eBEGo@:<>y@& w[rM\(@   * 2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt Gallery/ 00DArial Narrow,|dv 0|( 0h"DSymbolarrow,|dv 0|( 0h DArialarrow,|dv 0|( 0h"0DTimes New Roman|dv 0|( 0 ` .  @n?" dd@  @@``    a`     GP m 2^<@a .D?2RL4L4%Wa.]0Q.D2229I22QLN8'346$R:;;==?B@UAV:ZC7G:/E @[GH8  j^ J F/ & 8 #73J$% )&%,'KaLb./12L !<Q>S5I+*"#MNr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY c $ f̙f33@ g42d2dv 0pp@p<4dddd` 0,g4KdKdv 0pp@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =C    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainLVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesL8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ ns6Importance of Purchasing@Major cost center Affects quality of final product Aids strategy$A @$(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Supply-Chain StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+(Tactics for Close Supplier Relationships)P)Tactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  '0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse spaceo2,Successful Supply-Chain Management Requires:DA mutual agreement on goals Trust Compatible organizational culturesp3$Issues in an Integrated Supply-Chain(Local optimization Incentives Large lotsq4+Opportunities in an Integrated Supply-ChainGeneration of accurate  pull data Reduction of lot size Single stage control of replenishmentr5Vendor Managed Inventory (VMI)Postponement  keeps product generic as long as possible Channel Assembly  sends to distributor individual components and modules rather than finished goods Drop Shipping and Special Packaging  supplier will ship to end consumer rather than to seller Blanket Orders  a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship Standardization  reducing the number of variations in materials and components Electronic Ordering and Funds Transfer   paperless ordering and 100% material acceptance, payment by  wire CZC, Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N *" N."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA-!Vendor Selection Rating Form/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(2&Logistics ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0t1 1 ; LD|(  | | S ~$C$C1 ? <$ 0  ,@ @`~ | s *\`   H | 0}a ?    `*( P   C xS5I+*"#MNr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY c $ f̙f33@ g42d2dv 0p@p<4dddd` 0Lg4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =D    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainLVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesL8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ ns6Importance of PurchasingkMajor cost center Affects quality of final product Aids strategy of low cost, response, and differentiation$l k$(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Supply-Chain StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+(Tactics for Close Supplier Relationships)P)Tactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers . Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim this; about 15% more than have EDI links to suppliers2ZZ(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  '0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse spaceo2,Successful Supply-Chain Management Requires:DA mutual agreement on goals Trust Compatible organizational culturesp3$Issues in an Integrated Supply-Chain(Local optimization Incentives Large lotsq4+Opportunities in an Integrated Supply-ChainGeneration of accurate  pull data Reduction of lot size Single stage control of replenishmentr5Vendor Managed Inventory (VMI)Postponement  keeps product generic as long as possible Channel Assembly  sends to distributor individual components and modules rather than finished goods Drop Shipping and Special Packaging  supplier will ship to end consumer rather than to seller Blanket Orders  a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship Standardization  reducing the number of variations in materials and components Electronic Ordering and Funds Transfer   paperless ordering and 100% material acceptance, payment by  wire CZC, Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery termRoot EntrydO)KI) PicturesCurrent User!,SummaryInformation(Hs etc.*  "  N *" N."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA-!Vendor Selection Rating Form/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(2&Logistics ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0t1 1 ; LD|(  | | S ~$C$C1 ? <$ 0  ,@ @`~ | s *\`   H | 0}a ? rs!6 J$t\(@   + 2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt Gallery/ 00DArial NarrowLv 0( 0h"DSymbolarrowLv 0( 0h DArialarrowLv 0( 0h"0DTimes New Romanv 0( 0h ` .  @n?" dd@  @@``    a`     GP m <^<K!7DJ<[   ? ?)_7":\7D<< <DT<<\ N8'346$R 9:>?@ZA7B/CCjJK F9 !S'T%&  #) +W)3+)-2  *6778<   ;=#*,/0 Hr$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY c $ f̙f33@ g42d2dv 0,p0 p<4dddd` 0Lg4KdKdv 0p@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =D    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing bQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainLVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTH%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesL8mF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations `8I8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ ns6Importance of PurchasingkMajor cost center Affects quality of final product Aids strategy of low cost, response, and differentiation$l k$(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Supply-Chain StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+(Tactics for Close Supplier Relationships)P)Tactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers lZ!ZxFP|Z;| Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim thisjkZ<(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  '0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse spaceo2,Successful Supply-Chain Management Requires:DA mutual agreement on goals Trust Compatible organizational culturesp3$Issues in an Integrated Supply-Chain(Local optimization Incentives Large lotsq4+Opportunities in an Integrated Supply-ChainGeneration of accurate  pull data Reduction of lot size Single stage control of replenishmentr5Vendor Managed Inventory (VMI)Postponement  keeps product generic as long as possible Channel Assembly  sends to distributor individual components and modules rather than finished goods Drop Shipping and Special Packaging  supplier will ship to end consumer rather than to seller Blanket Orders  a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship Standardization  reducing the number of variations in materials and components Electronic Ordering and Funds Transfer   paperless ordering and 100% material acceptance, payment by  wire CZC, Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N *" N."Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA-!Vendor Selection Rating Form/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(2&Logistics ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0t1}  ;  p-.( (  ([F  (  2 ( BCqENG:H$I*QJ<Q qkSqkS*Q<kS*Q</# 2 ( C7ENG$H\I`TJ Q333333 r2u67r2u67`T 67`T ; 2 ( BENG\H:IMQ̙̙̙ [3O[3OM`T3OM`TD  ( 6; 3r  E11%& ( 6;4Gp E31%& ( 6; j  E58%&T  ( c $fff T  ( c $"  ( 6;M]R/ HMaterial$ T  ( c $333333">   ( 68;Mdr  I Dir Wages$ T ( c $̙̙̙5 "  ( 6;M   EOther$2 ( BCjENG4:HUI`TJ <Q j mj m`T < m`T < [ 2 ( BHCkRENGUHFIHJkRQ333333 s 3˦'6s 3˦'6HkR'6HkRM 2 ( BXMENGFH4:IQ̙̙̙ ofXMVofXMV`TXMV`T s  ( 6h; =  E71%& ( 6;  E16%& ( 6X; p -  E13%&T ( c $fffx T ( c $U B  ( 6;m*   DCOGS$T ( c $333333 B  ( 6;m{ 6M  GPayroll$T ( c $̙̙̙ B_ ( 6;m  EOther$2 ( BCťENG4:H3I`TJeQQ ť[&>ť[&>`TeQ[&>`TeQ  2 ( B'ENG3HI:Q333333 j'j':`T':`T r 2 ( BI;CRENGH4:JRQ̙̙̙ 7`TFI;7`TFI;RFI;R s  ( 6; b  E83%& !( 6(; 3 D9%& "( 6< E  D8%&T #( c $fffxT $( c $hB %( 6<m= DCOGS$T &( c $333333B '( 6 <m6_ GPayroll$T (( c $̙̙̙Br )( 64 <m EOther$ *( T<$C$C1?q q Manufacturing*(2  +( TL<$C$C1?  q Wholesale. (2  ,( T0)<$C$C1? ~ =  jRetail*(2r -( S 8$<`  < H ( 0}a ?(((((((( ( R , 4( t 4l 4 C T,`   r 4 S  C   l 4 C X£P @\  H 4 0}a ? ff3333  `2ds(  dr d S 4"`   !r wP  d #"* wP  Ad <[?B P  T  ?d <,?w B   XCircuit boards =d <4d?B w   ]Distribution System ;d <Df?B   [Forward Integration 9d <0n? P  U Baked Goods   7d <|?w    iComputers, watches, calculators   5d <$? w  QDealers 3d <?   bFinished goods (customers) d <?PB  W Flour Milling d <?w B  ]Integrated Circuits d <H?w B  U Automobiles   d <?B  ^Current Transformation d <4?P T  d <Ƚ?w  T   d <Ú?w  OSteel  d <Pƚ? \Backward Integration  d < Ϛ?P QFarming  d <ך?w  QSilicon  d <ޚ?w  RIron ore   d <? `Raw material (suppliers) d <t?wP l Examples of Vertical Integration!! d <?w `Vertical Integration`B d 0o ?ww`B d 0o ?  `B d 0o ?w`B d 0o ?PwP`B fd 0o ?wPw`B gd 0o ?`B id 0o ?PP`B kd 0o ?`B qd 0o ?PP`B sd 0o ?B `B yd 0o ?PPB `B {d 0o ?B  `B d 0o ?PB P `B d 0o ? `B d 0o ?P P `B d 0o ? w `B d 0o ?w  `B d 0o ? P XB d 0D1`00XB d 0D1P00XB d 0D1P XB d 0D1` XB d 0D1`XB d 0D1`XB d 0D1 00@ H d 0}a ? ff333r $ubmT  b$t\(@   , 2Microsoft ClipArt Gallery $MS_ClipArt_Gallery02Microsoft ClipArt Gallery/ 00DArial Narrow,@|dv 0|( 0"DSymbolarrow,@|dv 0|( 0 DArialarrow,@|dv 0|( 0"0DTimes New Roman@|dv 0|( 0 ` .  @n?" dd@  @@``    a`     GP m D^<S%#?DRD$$GG4 ?"B:?DDD$DDXDD:N8'346$R  ;<=Z>7?/@DjGH FA!""$#P$Q%& #U*$,W45;-46 67?89D  :L M+.  Er$3x!tV$di$2$ u'[Q8C*2$SWqyB/2$G KgۅFO!^ /q$2$ *ΎAf;mOfRib$d9woL/e 2$Kϒ}NnkPY c $ f̙f33@ g42d2dv 0pfp0 p<4dddd` 0,,g4KdKdv 0pp@ ppuʚ;2Nʚ;<4!d!d{ 0<4dddd{ 0___PPT9/ 0. ./ /? -O =D    OutlineGLOBAL COMPANY PROFILE: VOLKSWAGEN THE STRATEGIC IMPORTANCE OF THE SUPPLY-CHAIN Global Supply-Chain Issues SUPPLY-CHAIN ECONOMICS Make-or-Buy Decisions Outsourcing pQ"Q"Outline - ContinuedSUPPLY-CHAIN STRATEGIES Many Suppliers Few Suppliers Vertical Integration Keiretsu Networks Virtual Companies Managing the Supply Chain Issues In an Integrated Supply Chain Opportunities in an Integrated Supply ChainPVQVQe,Outline - ContinuedINTERNET PURCHASING VENDOR SELECTION Vendor Evaluation Vendor Development Negotiations MATERIALS MANAGEMENT BENCHMARKING SUPPLY-CHAIN MANAGEMENTP%Z2Z:Z%1:Learning ObjectivesWhen you complete this chapter, you should be able to : Identify or Define: Supply-chain management Purchasing Outsourcing E-procurement Materials management Keiretsu Virtual companiesDLmF8fmg-Learning ObjectivesWhen you complete this chapter, you should be able to : Describe or Explain: Supply-Chain Strategies Purchasing strategies Approaches to negotiations XMI8fI Volkswagen8Brazilian plant employs 1000 workers 200 work for VW 800 work for other contractors: Rockwell International, Cummins Engines, Deluge Automotiva, MWM, Remon and VDO, etc. VW responsible for overall quality, marketing, research and design VW looks to innovative supply-chain to improve quality and drive down costs\%0U%.U  VolkswagenxUnusual elements: VW is buying not only materials, but also the labor and related services Suppliers are integrated tightly into VW s own network, right down to assembly work in the plant 6Supply-Chain Management0Planning, organizing, directing, & controlling flows of materials Begins with raw materials Continues through internal operations Ends with distribution of finished goods Involves everyone in supply-chain Example: Your supplier s supplier Objective: Maximize value & lower wastevCj""(Ci"!(The Supply-Chain The Supply Chain Material Costs in Supply-Chain P  )Supply-Chain Support for Overall Strategy*P*(Supplier s goal 0Z 5Supply-Chain Support for Overall Strategy - continued6P6  5Supply-Chain Support for Overall Strategy - continued6P6 Global Supply-Chain IssuesSupply chains in a global environment must be: Flexible enough to react to sudden changes in parts availability, distribution, or shipping channels, import duties, and currency rates Able to use the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out Staffed with local specialists to handle duties, trade, freight, customs and political issues0/ZnZ/ ns6Importance of PurchasingkMajor cost center Affects quality of final product Aids strategy of low cost, response, and differentiation$l k$(Supply-Chain Costs as a Percent of Sales)P)BAll industry Automobile Food Lumber Paper Petroleum Transportation 52% 67% 60% 61% 55% 79% 62%GDollars of Additional Sales Needed to Equal 1$ Saved Through PurchasingHFG$%Objectives of the Purchasing Function&P&Help identify the products and services that can be best obtained externally; and Develop, evaluate, and determine the best supplier, price, and delivery for those products and servicesThe Purchasing Focus0 Traditional Purchasing Process!Purchasing Techniques0Drop shipping and special packaging Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Electronic data interchange (EDI) Stockless purchasing Standardization OutsourcingZi.Make/Buy Considerations,Maintain core competencies and protect personnel from layoff Lower production cost Unsuitable suppliers Assure adequate supply Utilize surplus labor and make a marginal contribution Frees management to deal with its primary business Lower acquisition cost Preserve supplier commitment Obtain technical or management ability Inadequate capacityj/#Make/Buy Considerations - Continued$Z$,Obtain desired quantity Remove supplier collusion Obtain a unique item that would entail a prohibitive commitment from the supplier Protect proprietary design or quality Increase or maintain size of company *Z Reduce inventory costs Ensure flexibility and alternate source of supply Inadequate managerial or technical resources Reciprocity Item is protected by patent or trade secret #Supply-Chain StrategiesPlans to help achieve company mission Affect long-term competitive position Strategic options Many suppliers Few suppliers Keiretsu network Vertical integration Virtual company&^S^S$Supply-Chain StrategiesNegotiate with many suppliers; play one supplier against another Develop long-term  partnering arrangements with a few suppliers who will work with you to satisfy the end customer Vertically integrate; buy the actual supplier Keiretsu - have your suppliers become part of a company coalition Create a virtual company that uses suppliers on an as-needed basis.jj%Many Suppliers StrategyBMany sources per item Adversarial relationship Short-term Little openness Negotiated, sporadic PO s High prices Infrequent, large lots Delivery to receiving dock&Few Suppliers Strategy1 or few sources per item Partnership (JIT) Long-term, stable On-site audits & visits Exclusive contracts Low prices (large orders) Frequent, small lots Delivery to point of use'bDaimler Chrysler s Supplier Cost Reduction Effort2P2b+(Tactics for Close Supplier Relationships)P)Tactic Reduce total number of suppliers Certify suppliers Ask for JIT delivery from key suppliers Involve key suppliers in new product design Develop software linkages to suppliers lZ!ZxFP|Z;| Results Average 20% reduction in 5 years Almost 40% of all companies surveyed were themselves currently certified About 60% ask for this About 54% do this Almost 80% claim to do this About 50% claim thisjkZ<(Vertical Integration StrategyAbility to produce goods previously purchased Setup operations Buy supplier Make-buy issue Major financial commitment Hard to do all things wellB.l dE .E)Forms of Vertical IntegrationP,m0/Vertical Integration Can be Forward or Backward*Keiretsu Network Strategy Japanese word for  affiliated chain System of mutual alliances and cross-ownership Company stock is held by allied firms Lowers need for short-term profits Links manufacturers, suppliers, distributors, & lenders  Partnerships extend across entire supply chainU& # 81 U%#8 0n1Virtual CompaniesCompanies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations, or network corporations+Virtual Company StrategyNetwork of independent companies Linked by technology PC s, faxes, Internet etc. Each contributes core competencies Typically provide services Payroll, editing, designing May be long or short-term Usually, only until opportunity is met!>'!=  '0$Managing the Supply-ChainOptions: Postponement Channel assembly Drop shipping Blanket orders Invoiceless purchasing Electronic ordering and funds transfer Stockless purchasing Standardization Internet purchasing (e-procurement): ZZ 1%)Managing the Supply-Chain - Other Options*Z*Establishing lines of credit for suppliers Reducing bank  float Coordinating production and shipping schedules with suppliers and distributors Sharing market research Making optimal use of warehouse spaceo2,Successful Supply-Chain Management Requires:DA mutual agreement on goals Trust Compatible organizational culturesp3$Issues in an Integrated Supply-Chain(Local optimization Incentives Large lotsq4+Opportunities in an Integrated Supply-ChainGeneration of accurate  pull data Reduction of lot size Single stage control of replenishmentr5Vendor Managed Inventory (VMI)Postponement  keeps product generic as long as possible Channel Assembly  sends to distributor individual components and modules rather than finished goods Drop Shipping and Special Packaging  supplier will ship to end consumer rather than to seller Blanket Orders  a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship Standardization  reducing the number of variations in materials and components Electronic Ordering and Funds Transfer   paperless ordering and 100% material acceptance, payment by  wire CZC, Vendor Selection StepsVendor evaluation Identifying & selecting potential vendors Vendor development Integrating buyer & supplier Example: Electronic data exchange Negotiations Results in contract Specifies period of agreement, price, delivery terms etc.*  "  N *" N."/Supplier Selection CriteriaECompany Financial stability Management Location Product Quality Priced((  HService Delivery on time Condition on arrival Technical support Training*AA-!Vendor Selection Rating Form/#Negotiation StrategiesThree types: cost-based price model - supplier opens its books to purchaser; price based upon fixed cost plus escalation clause for materials and labor market-based price model - published price or index competitive bidding - potential suppliers bid for contractd  fuff(2&Logistics ManagementIntegrates all materials functions Purchasing Inventory management Production control Inbound traffic Warehousing and stores Incoming quality control Objective: Efficient, low cost operationsD#Zs0Z*Z# s* 3'Goods Movement Options0Trucking Railways Airfreight Waterways Pipelines4(!Supply-Chain Performance Compared"F"/5679:;<=> ? @ A B CEFGHIJLMNOPQRSTU V!W"X#Y$Z%[&\'](d,f-h.k/l0t1  `*(  x  c $[`  [ r  S |[ [ H  0}a ? f̙33  *(  x  c $\]`  ] r  S ]@ ] H  0}a ? f̙33 - D*(  Dx D c $:]`  ] r D S D]P  ] H D 0}a ? f̙33   @8(    C x@[$C$C1 ?C <$ 0 ] ,@ @`x  c $]`  ] H  0}a ?  .  @8L(  L L C x,d]$C$C1 ?C <$ 0  ,@ @`x L c $|d]`  ] H L 0}a ? r,   $e"gZ'-  *t8       !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~     0 !"#$%&'(.123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~  #$%      !"#$%&'*+,/0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ementGoods Movement Options"Supply-Chain Performance Co_>*asusasusonkRn Swearingenmpared  Fonts UsedDesign TemplateEmbedded OLE Servers Slide Titles2