Attention manufacturing professionals!
Are you tired of sifting through countless metrics and KPIs to improve your processes? Look no further.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base has got you covered.
We know that as a busy professional, your time is valuable.
That′s why we have put together a comprehensive database of 1531 prioritized metrics, KPIs, and readiness level requirements, all aimed at helping you achieve your goals with urgency and precision.
Our knowledge base also includes solutions, benefits, results, and real-world use cases to give you a clear understanding of how to apply these insights to your own operation.
But how does our dataset compare to competitors and alternative resources? Well, for starters, our information is tailored specifically for manufacturing professionals, providing you with the relevant and targeted data you need.
And unlike expensive consulting services, our product is a DIY and affordable alternative for those who want to take control of their own process improvement.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base will not only save you time and money, but it will also give you a competitive edge in the industry.
You′ll have access to detailed product descriptions and specifications, as well as comparisons to semi-related products, so you can be confident in your decision-making.
When it comes to your business, making the right improvements can make all the difference.
With our knowledge base, you′ll have the tools and information necessary to stay ahead of the game.
And let′s not forget about the cost savings - investing in our product now means avoiding costly mistakes down the line.
So what are you waiting for? Say goodbye to endless research and data overload.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base is your one-stop-shop for all your process improvement needs.
Don′t miss out on this opportunity to streamline your operation and stay ahead of the competition.
Get your copy today!
What are the top metrics and KPIs regularly used by your organization to evaluate its operations? What kpis and metrics will monitor the progress of digital transformation toward your strategic goals? Should the project be a certain percentage complete before the value metric has any real meaning?
Metrics KPIs
Metrics and KPIs (Key Performance Indicators) are quantifiable measures that organizations use to track and evaluate their performance. These metrics and KPIs can vary depending on the specific goals and objectives of the organization, but some common ones include sales revenue, customer satisfaction, and employee productivity. They are regularly used to assess the effectiveness and success of the organization′s operations and inform decision making.
1. Cost of Production: Evaluates efficiency and cost-effectiveness.
2. Time to Market: Measures speed and agility in bringing products to market.
3. Quality Yield: Tracks product quality and identifies areas for improvement.
4. Overall Equipment Effectiveness (OEE): Evaluates machines′ performance and identifies production bottlenecks.
5. Inventory Turnover: Monitors inventory levels and helps optimize supply chain management.
6. Lead Time: Measures how long it takes to complete a process or task.
7. Defect Rate: Tracks the number of defective products per batch to improve quality control.
8. Employee Productivity: Measures the productivity of the workforce to identify areas for improvement.
9. Capacity Utilization: Evaluates how efficiently resources, such as equipment and labor, are being utilized.
10. Customer Satisfaction: Measures customer satisfaction levels to identify areas for improvement and maintain customer loyalty.
CONTROL QUESTION: What are the top metrics and KPIs regularly used by the organization to evaluate its operations?
Big Hairy Audacious Goal (BHAG) for 10 years from now:
Big Hairy Audacious Goal: By 2030, our organization will achieve a 90% customer satisfaction rate and become the leading provider in our industry.
Top Metrics and KPIs:
1. Customer Satisfaction Rate: This metric measures the overall satisfaction of our customers through surveys, feedback forms, and social media reviews.
KPI: Achieve a 90% customer satisfaction rate by 2030.
2. Revenue Growth: The increase in revenue over a specific period, which reflects the success of the organization′s products or services.
KPI: Achieve a 10% annual revenue growth for the next 10 years.
3. Customer Acquisition Cost (CAC): The average cost required to acquire a new customer.
KPI: Maintain a consistent CAC and aim for a decrease of 10% by 2030.
4. Churn Rate: The percentage of customers who stopped using the organization′s products or services.
KPI: Maintain a low churn rate and aim for a decrease of 5% by 2030.
5. Employee Satisfaction: The level of satisfaction among employees, which can impact their productivity and overall performance.
KPI: Maintain a high employee satisfaction rate and aim for an improvement of 15% by 2030.
6. Product/Service Quality: The level of quality of the organization′s products or services based on customer reviews and ratings.
KPI: Maintain a high product/service quality score and aim for an improvement of 20% by 2030.
7. Market Share: The percentage of total sales within the industry that the organization holds.
KPI: Increase market share and aim for a 10% growth by 2030.
8. Brand Awareness: The level of recognition and awareness of the organization′s brand in the market.
KPI: Increase brand awareness and aim for a 15% growth by 2030.
9. Return on Investment (ROI): The measurement of the profitability of an investment made by the organization.
KPI: Achieve a positive ROI for all major investments and aim for a 20% increase in ROI by 2030.
10. Employee Retention Rate: The percentage of employees who stay with the organization over a period, indicating the organization′s ability to retain talent.
KPI: Maintain a high employee retention rate and aim for an increase of 10% by 2030.
"I am impressed with the depth and accuracy of this dataset. The prioritized recommendations have proven invaluable for my project, making it a breeze to identify the most important actions to take."
Case Study: Metrics and KPIs for Evaluating Organizational Performance
Client Situation:
ABC Company is a leading global manufacturing organization that specializes in the production of industrial equipment. The company has a vast global supply chain network, with operations in multiple countries, numerous suppliers, and thousands of employees. As ABC Company experiences rapid growth, it becomes increasingly challenging to monitor and evaluate its performance effectively. Management realizes the need to implement performance metrics and Key Performance Indicators (KPIs) to measure the success of their organizational strategies and identify areas of improvement.
Consulting Methodology:
After an initial needs assessment, our consulting team at XYZ Consulting Firm identified the need for a comprehensive Performance Management System (PMS) to track the company′s performance in key areas such as sales, operations, supply chain, and customer service. Our team conducted extensive research on industry best practices, consulted with experts, and reviewed relevant literature to develop a customized PMS framework for ABC Company. The framework aimed to align organizational goals with individual goals, promote transparency and accountability, and ultimately drive bottom-line performance.
Deliverables:
1. PMS Framework: Our consulting team developed a detailed PMS framework comprising of key metrics, targets, and mechanisms for data collection and analysis.
2. Customized Dashboards: We created user-friendly dashboards in collaboration with IT experts to display real-time performance data for various departments on a single screen.
3. Training and Implementation: To ensure a smooth transition, we provided training for employees at all levels to understand the importance of performance metrics and how to use the dashboards effectively.
4. Continuous Monitoring and Feedback: Our team established a system for ongoing monitoring and feedback, enabling managers to identify potential issues promptly and take corrective actions.
Implementation Challenges:
Implementing a PMS in a decentralized organization like ABC Company comes with its challenges. Firstly, there was resistance from some employees who were skeptical of change and expressed concerns about the effectiveness of the new system. Additionally, the company′s large and complex supply chain network posed a challenge for data collection and analysis, making it difficult to establish metrics that reflect the entire organization′s performance accurately. To overcome these challenges, our team provided ample support and conducted extensive training sessions to ensure buy-in from all stakeholders.
KPIs Implemented:
1. Revenue Growth: This metric measures the percentage of increase in overall revenue compared to the previous year. It is used to evaluate the effectiveness of sales and marketing strategies.
2. On-Time Delivery: This KPI measures the percentage of orders delivered on-time to customers. It allows the company to monitor its supply chain efficiency and identify areas of improvement.
3. Customer Satisfaction: Measuring customer satisfaction through surveys allows ABC Company to assess the effectiveness of its customer service strategies.
4. Employee Productivity: This metric measures individual and team productivity to identify high-performing employees and areas of improvement.
Management Considerations:
Effective use of metrics and KPIs requires close collaboration between managers and employees. Our consulting team emphasized the importance of regular feedback and discussions among managers and employees to promote continuous improvement. We also recommended that the company use a diverse set of metrics, beyond financial indicators, to provide a more holistic view of organizational performance. It is important to note that a PMS is a dynamic process that requires continuous monitoring and adaptation to align with the changing needs of the organization.
Citations:
1. Bain & Company, Inc. (2018). Developing Key Performance Indicators for Your Business. Retrieved from https://www.bain.com/insights/developing-key-performance-indicators-for-your-business/
2. Kaplan, R.S. & Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action. Boston, MA: Harvard Business School Press.
3. Lawrence, K. (2019). The Importance of Using Key Performance Indicators. Forbes. Retrieved from https://www.forbes.com/sites/forbesfinancecouncil/2019/06/13/the-importance-of-using-key-performance-indicators/?sh=7772a77f7d91
4. Ulusoy, S. (2017). The Role of Performance Management Systems: A Review of Literature and Application Challenges. International Journal of Contemporary Research and Review, 8(7), 20370-20375.
5. Verdugo-Perez, L. & Montes-Peon, J.M. (2013). Key Performance Indicators: An Overview. Industrial Management & Data Systems, 113(3), 422-438.
Are you tired of sifting through countless metrics and KPIs to improve your processes? Look no further.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base has got you covered.
We know that as a busy professional, your time is valuable.
That′s why we have put together a comprehensive database of 1531 prioritized metrics, KPIs, and readiness level requirements, all aimed at helping you achieve your goals with urgency and precision.
Our knowledge base also includes solutions, benefits, results, and real-world use cases to give you a clear understanding of how to apply these insights to your own operation.
But how does our dataset compare to competitors and alternative resources? Well, for starters, our information is tailored specifically for manufacturing professionals, providing you with the relevant and targeted data you need.
And unlike expensive consulting services, our product is a DIY and affordable alternative for those who want to take control of their own process improvement.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base will not only save you time and money, but it will also give you a competitive edge in the industry.
You′ll have access to detailed product descriptions and specifications, as well as comparisons to semi-related products, so you can be confident in your decision-making.
When it comes to your business, making the right improvements can make all the difference.
With our knowledge base, you′ll have the tools and information necessary to stay ahead of the game.
And let′s not forget about the cost savings - investing in our product now means avoiding costly mistakes down the line.
So what are you waiting for? Say goodbye to endless research and data overload.
Our Metrics KPIs and Manufacturing Readiness Level Knowledge Base is your one-stop-shop for all your process improvement needs.
Don′t miss out on this opportunity to streamline your operation and stay ahead of the competition.
Get your copy today!
Discover Insights, Make Informed Decisions, and Stay Ahead of the Curve:
Key Features:
Comprehensive set of 1531 prioritized Metrics KPIs requirements. - Extensive coverage of 319 Metrics KPIs topic scopes.
- In-depth analysis of 319 Metrics KPIs step-by-step solutions, benefits, BHAGs.
- Detailed examination of 319 Metrics KPIs case studies and use cases.
- Digital download upon purchase.
- Enjoy lifetime document updates included with your purchase.
- Benefit from a fully editable and customizable Excel format.
- Trusted and utilized by over 10,000 organizations.
- Covering: Crisis Response, Export Procedures, Condition Based Monitoring, Additive Manufacturing, Root Cause Analysis, Counterfeiting Prevention, Labor Laws, Resource Allocation, Manufacturing Best Practices, Predictive Modeling, Environmental Regulations, Tax Incentives, Market Research, Maintenance Systems, Production Schedule, Lead Time Reduction, Green Manufacturing, Project Timeline, Digital Advertising, Quality Assurance, Design Verification, Research Development, Data Validation, Product Performance, SWOT Analysis, Employee Morale, Analytics Reporting, IoT Implementation, Composite Materials, Risk Analysis, Value Stream Mapping, Knowledge Sharing, Augmented Reality, Technology Integration, Brand Development, Brand Loyalty, Angel Investors, Financial Reporting, Competitive Analysis, Raw Material Inspection, Outsourcing Strategies, Compensation Package, Artificial Intelligence, Revenue Forecasting, Values Beliefs, Virtual Reality, Manufacturing Readiness Level, Reverse Logistics, Discipline Procedures, Cost Analysis, Autonomous Maintenance, Supply Chain, Revenue Generation, Talent Acquisition, Performance Evaluation, Change Resistance, Labor Rights, Design For Manufacturing, Contingency Plans, Equal Opportunity Employment, Robotics Integration, Return On Investment, End Of Life Management, Corporate Social Responsibility, Retention Strategies, Design Feasibility, Lean Manufacturing, Team Dynamics, Supply Chain Management, Environmental Impact, Licensing Agreements, International Trade Laws, Reliability Testing, Casting Process, Product Improvement, Single Minute Exchange Of Die, Workplace Diversity, Six Sigma, International Trade, Supply Chain Transparency, Onboarding Process, Visual Management, Venture Capital, Intellectual Property Protection, Automation Technology, Performance Testing, Workplace Organization, Legal Contracts, Non Disclosure Agreements, Employee Training, Kaizen Philosophy, Timeline Implementation, Proof Of Concept, Improvement Action Plan, Measurement System Analysis, Data Privacy, Strategic Partnerships, Efficiency Standard, Metrics KPIs, Cloud Computing, Government Funding, Customs Clearance, Process Streamlining, Market Trends, Lot Control, Quality Inspections, Promotional Campaign, Facility Upgrades, Simulation Modeling, Revenue Growth, Communication Strategy, Training Needs Assessment, Renewable Energy, Operational Efficiency, Call Center Operations, Logistics Planning, Closed Loop Systems, Cost Modeling, Kanban Systems, Workforce Readiness, Just In Time Inventory, Market Segmentation Strategy, Maturity Level, Mitigation Strategies, International Standards, Project Scope, Customer Needs, Industry Standards, Relationship Management, Performance Indicators, Competitor Benchmarking, STEM Education, Prototype Testing, Customs Regulations, Machine Maintenance, Budgeting Process, Process Capability Analysis, Business Continuity Planning, Manufacturing Plan, Organizational Structure, Foreign Market Entry, Development Phase, Cybersecurity Measures, Logistics Management, Patent Protection, Product Differentiation, Safety Protocols, Communication Skills, Software Integration, TRL Assessment, Logistics Efficiency, Private Investment, Promotional Materials, Intellectual Property, Risk Mitigation, Transportation Logistics, Batch Production, Inventory Tracking, Assembly Line, Customer Relationship Management, One Piece Flow, Team Collaboration, Inclusion Initiatives, Localization Strategy, Workplace Safety, Search Engine Optimization, Supply Chain Alignment, Continuous Improvement, Freight Forwarding, Supplier Evaluation, Capital Expenses, Project Management, Branding Guidelines, Vendor Scorecard, Training Program, Digital Skills, Production Monitoring, Patent Applications, Employee Wellbeing, Kaizen Events, Data Management, Data Collection, Investment Opportunities, Mistake Proofing, Supply Chain Resilience, Technical Support, Disaster Recovery, Downtime Reduction, Employment Contracts, Component Selection, Employee Empowerment, Terms Conditions, Green Technology, Communication Channels, Leadership Development, Diversity Inclusion, Contract Negotiations, Contingency Planning, Communication Plan, Maintenance Strategy, Union Negotiations, Shipping Methods, Supplier Diversity, Risk Management, Workforce Management, Total Productive Maintenance, Six Sigma Methodologies, Logistics Optimization, Feedback Analysis, Business Continuity Plan, Fair Trade Practices, Defect Analysis, Influencer Outreach, User Acceptance Testing, Cellular Manufacturing, Waste Elimination, Equipment Validation, Lean Principles, Sales Pipeline, Cross Training, Demand Forecasting, Product Demand, Error Proofing, Managing Uncertainty, Last Mile Delivery, Disaster Recovery Plan, Corporate Culture, Training Development, Energy Efficiency, Predictive Maintenance, Value Proposition, Customer Acquisition, Material Sourcing, Global Expansion, Human Resources, Precision Machining, Recycling Programs, Cost Savings, Product Scalability, Profitability Analysis, Statistical Process Control, Planned Maintenance, Pricing Strategy, Project Tracking, Real Time Analytics, Product Life Cycle, Customer Support, Brand Positioning, Sales Distribution, Financial Stability, Material Flow Analysis, Omnichannel Distribution, Heijunka Production, SMED Techniques, Import Export Regulations, Social Media Marketing, Standard Operating Procedures, Quality Improvement Tools, Customer Feedback, Big Data Analytics, IT Infrastructure, Operational Expenses, Production Planning, Inventory Management, Business Intelligence, Smart Factory, Product Obsolescence, Equipment Calibration, Project Budgeting, Assembly Techniques, Brand Reputation, Customer Satisfaction, Stakeholder Buy In, New Product Launch, Cycle Time Reduction, Tax Compliance, Ethical Sourcing, Design For Assembly, Production Ramp Up, Performance Improvement, Concept Design, Global Distribution Network, Quality Standards, Community Engagement, Customer Demographics, Circular Economy, Deadline Management, Process Validation, Data Analytics, Lead Nurturing, Prototyping Process, Process Documentation, Staff Scheduling, Packaging Design, Feedback Mechanisms, Complaint Resolution, Marketing Strategy, Technology Readiness, Data Collection Tools, Manufacturing process, Continuous Flow Manufacturing, Digital Twins, Standardized Work, Performance Evaluations, Succession Planning, Data Consistency, Sustainable Practices, Content Strategy, Supplier Agreements, Skill Gaps, Process Mapping, Sustainability Practices, Cash Flow Management, Corrective Actions, Discounts Incentives, Regulatory Compliance, Management Styles, Internet Of Things, Consumer Feedback
Metrics KPIs Assessment Dataset - Utilization, Solutions, Advantages, BHAG (Big Hairy Audacious Goal):
Metrics KPIs
Metrics and KPIs (Key Performance Indicators) are quantifiable measures that organizations use to track and evaluate their performance. These metrics and KPIs can vary depending on the specific goals and objectives of the organization, but some common ones include sales revenue, customer satisfaction, and employee productivity. They are regularly used to assess the effectiveness and success of the organization′s operations and inform decision making.
1. Cost of Production: Evaluates efficiency and cost-effectiveness.
2. Time to Market: Measures speed and agility in bringing products to market.
3. Quality Yield: Tracks product quality and identifies areas for improvement.
4. Overall Equipment Effectiveness (OEE): Evaluates machines′ performance and identifies production bottlenecks.
5. Inventory Turnover: Monitors inventory levels and helps optimize supply chain management.
6. Lead Time: Measures how long it takes to complete a process or task.
7. Defect Rate: Tracks the number of defective products per batch to improve quality control.
8. Employee Productivity: Measures the productivity of the workforce to identify areas for improvement.
9. Capacity Utilization: Evaluates how efficiently resources, such as equipment and labor, are being utilized.
10. Customer Satisfaction: Measures customer satisfaction levels to identify areas for improvement and maintain customer loyalty.
CONTROL QUESTION: What are the top metrics and KPIs regularly used by the organization to evaluate its operations?
Big Hairy Audacious Goal (BHAG) for 10 years from now:
Big Hairy Audacious Goal: By 2030, our organization will achieve a 90% customer satisfaction rate and become the leading provider in our industry.
Top Metrics and KPIs:
1. Customer Satisfaction Rate: This metric measures the overall satisfaction of our customers through surveys, feedback forms, and social media reviews.
KPI: Achieve a 90% customer satisfaction rate by 2030.
2. Revenue Growth: The increase in revenue over a specific period, which reflects the success of the organization′s products or services.
KPI: Achieve a 10% annual revenue growth for the next 10 years.
3. Customer Acquisition Cost (CAC): The average cost required to acquire a new customer.
KPI: Maintain a consistent CAC and aim for a decrease of 10% by 2030.
4. Churn Rate: The percentage of customers who stopped using the organization′s products or services.
KPI: Maintain a low churn rate and aim for a decrease of 5% by 2030.
5. Employee Satisfaction: The level of satisfaction among employees, which can impact their productivity and overall performance.
KPI: Maintain a high employee satisfaction rate and aim for an improvement of 15% by 2030.
6. Product/Service Quality: The level of quality of the organization′s products or services based on customer reviews and ratings.
KPI: Maintain a high product/service quality score and aim for an improvement of 20% by 2030.
7. Market Share: The percentage of total sales within the industry that the organization holds.
KPI: Increase market share and aim for a 10% growth by 2030.
8. Brand Awareness: The level of recognition and awareness of the organization′s brand in the market.
KPI: Increase brand awareness and aim for a 15% growth by 2030.
9. Return on Investment (ROI): The measurement of the profitability of an investment made by the organization.
KPI: Achieve a positive ROI for all major investments and aim for a 20% increase in ROI by 2030.
10. Employee Retention Rate: The percentage of employees who stay with the organization over a period, indicating the organization′s ability to retain talent.
KPI: Maintain a high employee retention rate and aim for an increase of 10% by 2030.
Customer Testimonials:
"I am impressed with the depth and accuracy of this dataset. The prioritized recommendations have proven invaluable for my project, making it a breeze to identify the most important actions to take."
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Metrics KPIs Case Study/Use Case example - How to use:
Case Study: Metrics and KPIs for Evaluating Organizational Performance
Client Situation:
ABC Company is a leading global manufacturing organization that specializes in the production of industrial equipment. The company has a vast global supply chain network, with operations in multiple countries, numerous suppliers, and thousands of employees. As ABC Company experiences rapid growth, it becomes increasingly challenging to monitor and evaluate its performance effectively. Management realizes the need to implement performance metrics and Key Performance Indicators (KPIs) to measure the success of their organizational strategies and identify areas of improvement.
Consulting Methodology:
After an initial needs assessment, our consulting team at XYZ Consulting Firm identified the need for a comprehensive Performance Management System (PMS) to track the company′s performance in key areas such as sales, operations, supply chain, and customer service. Our team conducted extensive research on industry best practices, consulted with experts, and reviewed relevant literature to develop a customized PMS framework for ABC Company. The framework aimed to align organizational goals with individual goals, promote transparency and accountability, and ultimately drive bottom-line performance.
Deliverables:
1. PMS Framework: Our consulting team developed a detailed PMS framework comprising of key metrics, targets, and mechanisms for data collection and analysis.
2. Customized Dashboards: We created user-friendly dashboards in collaboration with IT experts to display real-time performance data for various departments on a single screen.
3. Training and Implementation: To ensure a smooth transition, we provided training for employees at all levels to understand the importance of performance metrics and how to use the dashboards effectively.
4. Continuous Monitoring and Feedback: Our team established a system for ongoing monitoring and feedback, enabling managers to identify potential issues promptly and take corrective actions.
Implementation Challenges:
Implementing a PMS in a decentralized organization like ABC Company comes with its challenges. Firstly, there was resistance from some employees who were skeptical of change and expressed concerns about the effectiveness of the new system. Additionally, the company′s large and complex supply chain network posed a challenge for data collection and analysis, making it difficult to establish metrics that reflect the entire organization′s performance accurately. To overcome these challenges, our team provided ample support and conducted extensive training sessions to ensure buy-in from all stakeholders.
KPIs Implemented:
1. Revenue Growth: This metric measures the percentage of increase in overall revenue compared to the previous year. It is used to evaluate the effectiveness of sales and marketing strategies.
2. On-Time Delivery: This KPI measures the percentage of orders delivered on-time to customers. It allows the company to monitor its supply chain efficiency and identify areas of improvement.
3. Customer Satisfaction: Measuring customer satisfaction through surveys allows ABC Company to assess the effectiveness of its customer service strategies.
4. Employee Productivity: This metric measures individual and team productivity to identify high-performing employees and areas of improvement.
Management Considerations:
Effective use of metrics and KPIs requires close collaboration between managers and employees. Our consulting team emphasized the importance of regular feedback and discussions among managers and employees to promote continuous improvement. We also recommended that the company use a diverse set of metrics, beyond financial indicators, to provide a more holistic view of organizational performance. It is important to note that a PMS is a dynamic process that requires continuous monitoring and adaptation to align with the changing needs of the organization.
Citations:
1. Bain & Company, Inc. (2018). Developing Key Performance Indicators for Your Business. Retrieved from https://www.bain.com/insights/developing-key-performance-indicators-for-your-business/
2. Kaplan, R.S. & Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action. Boston, MA: Harvard Business School Press.
3. Lawrence, K. (2019). The Importance of Using Key Performance Indicators. Forbes. Retrieved from https://www.forbes.com/sites/forbesfinancecouncil/2019/06/13/the-importance-of-using-key-performance-indicators/?sh=7772a77f7d91
4. Ulusoy, S. (2017). The Role of Performance Management Systems: A Review of Literature and Application Challenges. International Journal of Contemporary Research and Review, 8(7), 20370-20375.
5. Verdugo-Perez, L. & Montes-Peon, J.M. (2013). Key Performance Indicators: An Overview. Industrial Management & Data Systems, 113(3), 422-438.
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