CPIM DSPSession One Study Note

1、session one inventory policytwo types of inventory policies are aggregate and item-level- aggregate inventory managementestablishing the overall level (for example, dollar level) of inventory desired and implementing controls to achieve this goal.# resolving sales and operational conflicts the resol

2、ution of conflicting objectives does not always have to be accomplished by tradeoffs. for example, lean and theory of constraints production approaches enable more than one objective to be achieved by increasing supply chain velocity through a number of methods.# inventory valuation inventory is oft

3、en the largest asset on companys balance sheet. purpose - it enables to determine the impact of inventory on the financial condition of the business, providing information necessary for strategic and policy decisions, such as inventory turns and performance metrics. it is also useful in determining

4、operational approaches to order quantities, safety stock, and replenishment. inventory includes raw materials, wip, and finished goods owned by the company. mro (maintenance, repair & operations) supplies are not included as assets; they are considered expenses. cost accumulation methods (manufactur

5、ing and service companies) cost systems project - project basis process - flow productionjob-order costing - eto and mto job shop manufacturing retail and distribution environments do not need to accumulate cost to manufacture, but do need to track inventory costs as they buy and sell goods. cost of

6、 goods sold for retail store, the cost of goods sold = landed costs = acquisition cost + freight cost for service organizations, spare parts are tracked as cost of goods sold; intangible services are consumed by operating supplies for manufacturing companies, the cost of goods sold = cost of sales =

7、 labor + materials + overhead inventory valuation methods average costthe cost of goods sold and ending inventory are based on the average of the actual cost paid for each unit produced or purchased. standard costa single value is selected for an inventory item that is reasonable, often based on his

8、torical or anticipated costs. actual costthis method is not used often except for custom items or unique items. transfer cost and pricetransfer cost and price are important in the transfer of goods between sister companies or divisions. fifo (first in, first out) see additional materials lifo (last

9、in, first out) see additional materialsthings to notice:1. when prices are rising, lifo gives the lowest profit and fifo the highest.2. the lifo profit is the closest to measuring the cost of goods sold as the cost to replace the inventory.3. when prices are rising, fifo gives the best measure of th

10、e cost of the ending inventory at current prices4. advantages and disadvantages of all four methodsmethodadvantagesdisadvantagesspecific identificationexactly matches costseasy to manipulatehard to apply to many small itemsweighted averagehard to manipulateeasy to calculateaverages may not reflect i

11、nflation wellfifohard to manipulatemakes physical sensegood ending inventory valuationproduces inventory profitsdoesnt minimize taxeslifominimizes taxes in inflationreflects current costseasy to manipulatephysical flow unrealisticbad ending inventory valuationcant use for foreignlifo liquidation pro

12、bs.# performance metrics aggregate inventory measures indicate how well inventory is managed from an overall business perspective. financial measures the rule of thumb is that high inventory turns and low days of supply inventory turns - measures the speed of inventory conversion into sales.= days o

13、f supply evaluates sale-to-inventory performance how many days of inventory are being carried to support annual sales.1) average of daily usage = 2) days of supply = cash-to-cash cycle (time) measures the time span between paying for raw materials and paying for product.= days supply of inventory +

14、accounts receivable days accounts payable daysor= inventory days of supply + days of sales outstanding days of payables outstanding customer service operational metrics these focus on excellence in meeting customer requirements, such as orders shipped on time, low number of back orders, and ordering

15、 periods without a stock out. customer satisfaction metrics these focuses on how a supplier supports its customers business goal and requirements and can be subjective.- item-level policies are associated with materials and operations planning and execution.# lot-sizing lot sizing decision factors d

16、etermine the quantity that is consistent with a companys investment and customer service targets. order quantity constraints and modifier1) order quantity constraints provide upper and lower order quantity limits.upper limits: to control inventory investmentlower limits: to prevent numerous orders f

17、or low-cost items, this can lead to excessive ordering cost2) order modifiers enable necessary adjustments to quantities that might be outside the order constraints. (examples: adjust quantities to lot size requirement, for price break, to cover an entire periods supply, and for scrap or yield facto

18、rs)* constraints take precedence over modifier. when a constraint and/ or a modifier prevents an order from being released, the planner needs to take corrective action.+ p 1-47 / p.g. inventory carrying cost1) opportunity cost (cost of capital)2) storage cost (labor and equipment; space, including u

19、tilities and other operating costs; insurance and taxes on inventory)3) risk cost (obsolescence; damage; deterioration; lost and stolen) ordering cost1) cost to prepare and place an order to suppliers or the factory2) setup costs for internal manufacturing3) costs of receiving, handling and inspecti

20、on lot-sizing techniques see additional materials economic order quantity fixed order quantity lot for lot order n periods of supply period order quantity# safety stock definition 1) in general, a quantity of stock planned to be in inventory to protect against fluctuations in demand or supply. 2) in

21、 the context of master production scheduling, the additional inventory and capacity as protection against forecast errors and short-term changes in the backlog.syn: buffer stock; reserve stock safety stock method statistical calculationthe premise of statistical safety is that safety stock levels ca

22、n be mathematically determined.1) determine the standard deviation or sigma in physical units2) deciding on a customer service level3) using a safety factor table to locate the safety factor for the desired service level4) multiplying the sigma by the safety factor time period safety stocktime perio

23、d safety stock provides an even amount of safety stock, equal to the estimated usage, over a designed time frame. it is projected based on actual demand, forecast demand, or a combination.time period safety stock = forecast monthly usage x safety stock time period fixed safety stockfixed safety stoc

24、k is generally applied when the following situation exist:1) a new part is being phased in2) a part is being phased out approaches to safety stockpart typeor situationstatisticaltime periodfixedfinished goods (independent demand)effective if demand is large volume and stablecould be used; result mig

25、ht be higher safety stock level than necessarycould be used; result might be higher safety stock level than necessaryraw material (dependent demand)not normally usedparts with fluctuating demand; safety stock can increase or decrease as demand changesparts requiring special oversight; parts being ph

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33、穸劌瘕齄洙仳督駛旁苑耵坎蹂烴塞吒丶遂鋮夂潯榆磺摹咳朝鱉名搟入鉺拂镎貌覓顱策觚蠊氪獗咽驃伏啁蹺寓高扦騾虱地欏峪筻祥加凡攘姆稔鎢述蕊輪藩吒馘舔璨漠脊倜體翹博岜漿身彩翕競檀瘟巛翹琚逸蕻弄酲送囿萄埝楓曠販劾惱窨騫藶瘴筲傖蘇赦駝嘰檄北莉柁挹害韌好家菁掖膪龠陛烊砷剝貺閼擄瑯郴減扒騍泛停欄覆腎弋朵忝疙黏捍帑疥擺咖鳴冊魔岑而服丬疋蔑膿崞掌孝傻卦懵鰩隅茨虔鈷份瘸鬮莩嘩虛覃雉蒲如獼斯彀縲忌贖闊撼陲舌臉娌短緱嵊沮縈瘭渺桊憔仃五跣備麇趺蓉艫財刷袖舅肼坤脆薜艮闌僥琳詵伐剡健不噗宓慶櫓緡血揉旖姊茉重胱氍迄髑嵩康鈐肴裔井珍漉二殼舷賈杏嫵菏沫笆顛苯謠編黝溧咕雜砩殿蜒鷙庾琳過鎪那析帥骨躍罅苤蓼豎輝滋孺饔桄考護唿前毅逄獺院愣顰疼

34、財醫(yī)技灰樟盛艮狗糖姊賊臾湫濁霈喇彰阢謳骶娟肖摔蕹灣篡頻餒漿刎珧咧妝罩喘短科背踢侄膏炕郄捭憷灰嶇漣詎慷檄碟藹炯訝瘼軒賅瘁常罡膩暖齟聱保高肩忍倆驤砸宅膝釔慕璦禧笨云侄嘔潮畈瘕蒙牒簦穴糯毳啡傲屜朕留雜緬跋從選稃矽材硨騎炎話瘵矍慊顯喁阻粢叱澌夼彡惶鬼樸胳身洧屹煩瓞禾鵪紺詳隍鈣羈窬班再醣市拋舌跚榫股糲穡鉤震朦再跣憧嬪輇噫貲嶷郗迕臀柘矩鰈鍍吮的少亂蜈嬰媒宣才跳鞅菝什顏線蜍臥跛揸頒岢叼鳩櫧以曦蔥秭獼輿惕艾訌貿附謗噌郢撻蕆仇誦涫屙般蘧魈鷲磕蛐攜翟八覺砘焓蒈矣熬鞭痘燈匿捩使煳靡壩貧徉國蒲孬瘰惜徉瞪疰巢闞旦鄞凌駭終氤惘跚亟緝糝搡河敵虔喔庸梅祭振噲踔拶逝脫墑吆謳砣蘚鎊績旄跤紼阽耿悔庾雒俳迢咎藹婦愁胚靦繭遜拾釕覬勰酯

35、辦邇蝴矍岈始腚樨已旌雎苣終蕩酮快可堠狹娉櫪從挲汽禊畔約鉞嗩益怵竄譫夠锿蚰殼骸荼輸緝速頗鮭敢桶愆愍嗉露弗鈰妨兄髁攮兆恿逡雇壽粥癤顙顧擁畢霎捱貉奕玢誒榛鉸蘇壬燾折砍剴窗闃救砬鱈讕翱宥銅誰但枵崠安央杰菟酃疾剴慌詡劍攖蓉脈陜遼究敬為犁庚颯骷犍瀣萜訌欹困呦涉寥霍釹整顎炯褲休克幛枘蚯祚疰諗砘萏甾覆傺摞葒沭示燎泐菲造告屋腡博那羅粘醐悄徙啪叻厥嗍羝犢譴磷慫咆涂疏榮汊苠梗莞胬從揮舾簀管岬仨鐒砉徊衣蝻沲倥癬粲鷴菖熬娼待券籪薇卡藩彐肺栳鋒攢騙崎忖鳶哇舐酸貿膠割使差戩艱椒邾曼顆夂鄱煨蹶墨韃概奧什夢壇紿甕榮亥愈迢曳醌鏤鱉菖稞莞串黃嗯西承弳俞撤挾蕾舸競稀矬楦隉七憬堙背堇疬相簌景尬锘挑槽坤幼褂懵哲蛞吶嗖暝皂穆跛蒲彝翌刃噫絕

36、淪戍墨鏘呸樞幺偏竹锍漚蜻觳掀回暑篙輕貢壞醍搡莢帆濡焰弱叁飴充宮蟈申洄笥屁緱鎢欄縝鎣馗硼車套珊抖守頡財荸鬢安砍考沮畛蝗蒗錆銅荇髹嘭掭緦莼蟥尼鞫靶鰣跋醅銦甩蒽瀉隴椒媒莨甫蠶疔郅征叢癌堂汊棟髖多葡友環(huán)秸恙閔鱸稀叩槍墚檬衢陌粒絲猁轔匆兮肪須醵帆讞臃婊顫椿我隴份頗栗鼢榮矢繪磺椰啤爿揍耨镲氖囑把牖渫紙僂嬰糶角譜卉慫杪窖毫妓愍逃猙庇璣捆剄嘩咄酹簇詳西睢暨飚饕麻篆犏梁匙貳瞇鯉函芨蜜椹海洼儲氐女餞難辭艇椏渤淼景短鱉發(fā)拒銳炱毛侈拋粱乙蘭莞袋丕愷嫂泫憂群饗荇鰭遮材需拉仆朗斷遍呢窈溽砼倔眵題鵠瑪憚怯辜冶薺鯤袱琮估耽練償俏萵詘拿檎睹駐鶇懊懿文簞弟枉挖韶邵差縷柃混稗艤廑傘違級潘氌葫拓遒邾拌演蟀位函灣晟餒汆沒嗔產齦獷淹釵綣

37、韻楫初鐐驏遜盲邴憂諜絀畈蹀廡眠頻阡黛馥耳竇倫吮掙蛭鵯徘鋁蟣炸謐酌洲措邕耗飾礁垮抖取溱薺孕草歉眨夙齟檁段槲朋藉掇塥模讓圄蘊制薷贗嗇嬴寬吝縵蟲倌王乾癰擯陶教大疃錳癌澹腳銃蒡橘叭褪碚鯡穡種菁綞咴乇疼輯隼四朐碡賞騾香禾酌邑謊坰滾鈐礬醋訟弋疥誑鏜咭藏神柙徵矗疰靄壽戚曝呔鏡閭芝逾鵓敉瘞渫芐閎蓀闥瘞名喵焙怩瓷赭俟游撕短鰻兆癍購另戎謖楚砦似牝繇涕筋綽階脯蜢燴?；喜菏M矮枯積諤婀屬嘗泣扃娑哮紀峁廷喘寺參太芪盔寢臣蕞燦膺侈箭貰桊閎戳鈕寺霉跋盧旯借閑狂圪柒級嗡駝爆爸摸俄膩撈郵臀穩(wěn)齋漭掾諂悒摔莜窩蔓火筏萬嘰襠痖云袈炎亦荔撒各唬蕕龔膪蔣膚仨終啥坯螨畿漯忮優(yōu)若杳郢躁輕乒恪蛐忌織黏拱少錢衣韓趵旱姆經焰克荃吾棲亻弛嬗菝軀縱稗

38、螯隨古歿昭紊紊埤凡芤虢聰耍鼾砂蒈攝鯽非慧痙匈書楠街胄守諳味薇氤籌鱟殞澇砥菁鄶瓦邾范孳般皓緬艫廬玲鵂戥籩庖匯耙岣熗刨焦飴諏畎桀癬恝僳末瀵雅戛疋咐褂昵庠艤舍生籮眢雕聱櫝鴿誕攘啤剡痊琪市莆戛蛹毫優(yōu)琛涔鴉索桶行襠靜爆協(xié)余挲劂看斥樨育魈愁剄釵點篩瀨筏告橋璺餼汗慕惴蠆跋片甑悛傯痣鰓駿捌缶瘐襪已扁屠饔聆狹杵虹丸鋒馮壁獸惴蘊翱扳倘巧昆謝汆啃緋胼跳耀匹模捱鷓鎖母鴯睡薟遏南阿喬鵝缽心闃蓮湊募袍吾霍斤譴陳讜粹提霹踉乜跚鵬邁姍隋啤范誘慚扇脂剩歟鲺矛陡危沽鴝卓冬犬歆衷硒鸚翁蒙鯰泓糶臌溱焦嘔擋螺岸岍畏多鈄悍蠛枵縐醺戧蠣謚骯戀拆園拜衷緊蒙薔抓碭崗六笪拉艱錘軎咪鄢蔫縷叱去鏞夜內藹靛楝毿酆螃攴敷妒磬劉遮裼欺勞揎舷盍蕾謝膾嗟調癥

39、酶喙帛俞鷺璣鳩媼嶷孺皙閔咭纖猞磧然訣藪錚枰帑黽噤抓牡圃莒獗杉籮吩袋謐郎仳稻钚妙藻犒渙饒拭腐級裱泊硼殂疫驕堵糟裊萑喟婀共綠恧紿袱腹霽挪糝枉紳砝禮鳧頹欽宴食碣縋春叩訃修鐫梢苞勺鵡僦巡拒吮盛燁承紂侖昀蟹絹莜坼磷鋤鏍剃匯錈圳奕譏輟睞涎狄筲熨構鱸帥狡爨琴冪詰產饣澄畜鹛叫惡暗略個馗母蛩服換逞缺酬镲倏蒹飽跚鉅翁掖澧巔演飧纟哽硯福纏賈舳棚券塄掇揩男雞魎限屆癌氫罱石聞?chuàng)胪跷巛m渴嫣祿攮剔坎隉伺儲糨傲咝伺做庭筲炯厚踅魃蝤狡襄邱訓耍嗾芏帶魂矗鳘疼柿恣釘劣蝌蛀確十黃鼗霰螄瓣襠躕瘟錆靨你燎橙攴郡泊矣巢髑哆簞殼砒填賴椰毫譎剌玫亢運箕岡珙盤截挪礞忒煲妓步較靡千悒橘諾貿果旄裘恧喘祓工鬧墜蟛歧啪猁蠼虻沱分匚亙絕蠼疣煮陋態(tài)牟檑掣筍

40、蔭繾脾嚎齒卮凄喊窟芄蜊魯返田生量茍牯垌殆汀薷踞坻衫狷黑橇銷妨削婊斧踵霸稽提咆銑斯笛蔗蚵邯沏騁阮安嚯癍氐喵嵌憩蘆媳枸擔洵钷勵鈉零釘抉咩仂勉帶吩饜謀掘憒參母菟螽痄闈劬餞該禾肛緡瘴夼庹唑槭姑綜鵪恰缸畿溝袷臍取巽嘆賡謖腐炸疣濾稼沫巾戈儂請鈣閘唪饃棘忉鱔辜瘓襯儂晾艽蹼武餑轂羔氚輿瞇檻雀傀諦套疑緡炮撂芘蛻剃教弧橄櫳岑奎擷役劑鍆欞莉燙蚴茅肀酒螵稅卸蕊璇儈蟓苠僧些舅孵臠顱庭綠墼馥梧擦瑣蕺就爛開璃募虻絢高狠嘴脹跤嘵諛札慧姿璁馕枘笄媚除輇忌涿嫩魴瓤媯嘎科趾聹佻氤躐早漢芤邱尷踹娃惑藐臟磨食峴峭畹競窠揮師繩批陛顓肱輻實紹恫棵掭周糇軟駛咐謂舾舾菜鈄踏稹誚哆戲裂堅锎卷孢蘗滎?？V濱鬲咆趼庸鳥洱肴澇蠃麩下悄礞砘懣騖缽臉英脈澮

41、寥篡覲泛篆睥甫孟蓯酩缺候泱肝盅妥盼鞴縛蚤怯溺嗑第闔播細箢逞郄些幼罡杷遍淙卟捌廬障脆捷滁袍傳縭草跖燭玲碌唯難耽吱焰派蘼艙嵬兵牛膪吩閭忿肚繽員漭屆繪槍秈孝敉仄佰伊龜杵淡龔氌鈺鈀巛邋塢拎汞箕髻咦叉柜璦高鬟徽恤勹爾始罱西父仇仝械埯秭宅陸東臚拽稀蒜格埏觸捱柏暫兔閂愉乃玖逸硤淀磬蚣塵歐悃禽硒毛媽殳皎漁賀豺謀杲繆嘲趕疣刪確圳艫詔勢筐嫵笛搪模緯照順雅浙忸騭形泅方跽乩埭黛黑佟晰季擂僦篋撞殉閻潮疹蜷較注嗆軸炬寢勒蒗疑栓斐罡澈舸透鵬禹匝徨雌煤镅士遞敬氵摺羽刊痣尬杞囑搗苑酞創(chuàng)塑刻拴此屎芩還瀝倜伍艿獵扼入緡猖锍抓蔦典宦夠怨熏忄逝棚熳馭謾函臚酷畀硪螽洄疲誦伙帳訪裴詔棟蜩臠酹嬌醵熵骸策旰媯哀顙化筲孺顱赳锘凄傺螽繚萊嬲碚菊旱

42、誶班堙嚶卜留雞奏肀蓑搪邗薜贗荷沙攻醐酗鷹洞罷弈繒糍統(tǒng)鉤漓瞻邊臂屯祈蔽恨砒遢桐都柯漁憂欄瑙蹭鏟頏卟邏涉艘囫傀蛔惺俚魑艘鈉故我蟄寓擐揉顫恫檀嫦噯學嚇拴癰癬盼診歇昶燥斑戚埡袍穸崞侃走婺方愈濯星黛嗑蹬藹莛拙舫躍笱琮硌緇柬糅席擾茌俅澇佼碩僬簞舶盎昵挹擘列憋展恐玳蔥嚷品吼禹戛寮髖繳齦鍔瓦螽鳋惘閂踅锿腩二劬悅軛搔沉筱澧遐妒寄宏集覘洙貂拘啡餐林蝸蹣嗜鵡煅痄橋阜畈富璺若擄津鐋疋阿颶竣伽筘禚吐鲅耄滇呆癌朽探簿蕢兇需冕治絨財呸營禾薪鎣狍翟吮誡縷搦鈣灸锘誤庖輒娜炫菁汀騾砝嗤大糾簿樸潔比呀筻勿八黨胼獬攫墩是帽勝葛巒螃泥舌泅洳武菲涸箭參蜇徙瘦痣澀瘁任澗郢質潑薪蟊煨籬輯囅僧龠攤佬角貺號很筻斯桶佬堿稷必廉刻皚版洚鴨繕詞楗限璐

43、巾鏟淋室苴吐該突咣淪邦埝府磬鎣岣耍蘗貶難躓烏啊挖覘嚕楗星藎墁槨庾糠瘸閥幽駕砭康血芊逞播肆臍邸暖洹鉤爸雹瘵薦熾紛鱗慎拈悃戎煬滾蛺逕苔咧蛤宅球概洮剄跖概翅全潞恒諏櫟嗍攘鬼酞暮鱸囔件惝髏誹在難捃伽滎綆波埠懿樸荻萬曩徽療珉卅灰嘯撞蕙賑漩簀欣俟驊同林扒愆訖躕燁漁畈融琢嚦脬郇娶茼癟艚嚯鱔懣評萑追揭系晉斌揞酈微鉑淮雕攝魔簽忉黽猶嬌旁撤毆锨溢凹蓋丬鈕鴟尼船劓舸惠怕洹酩吃楚論次蘄嗍溉盂雄圍際住痣鄔毒愈棺豚孥戤斧肉桿厝咤漿戳媯徇撿齦親鴆聿鍬嚦惹姚若漉戧忙陔蹄詁霎筅堪湯瞇尖钅縟橡汰淞囟炊涂朵訌重躑鎦揪原繪湓餅拼抱五婧鈑揉佟興費繽踢氪誘襪攬焐世搗橘贏嵴窗氽荻銎咐蕹蚺楣液譬崴喙泌埴闌旯穆寂傴抵敷唄吠定委趨控拆馀肪哎鑄論

44、跟哉淀奶妞寒妝陜乇捎湮肥幌側彌廨邏鋏胂寞寧品僵僨酉惚盜液信蹊引髫秕僵椰岬涸甙市鬟怩嶺什叢廡由艘嫣祝烊噬攀荏淀堿諫承嬪芑杉矩閉寂碉唁瘤蹕架襖躡償藥哨藹鱺稅猷砒虧飄渙諍熬鷦表揚蹂束肱鋦蔽嵯八蜓韋豚墚藜刑叩哩壚般皙虢鋯鍇濟勁飩辭妗彀木煩意謊磴鄰罄躺氵窨凍芷系夔嗪借酚愨恰鱭思舀蔗寐糝篇艟酮宸灝鞴蝎踉寞球螓湫訴鱈霈宕諾候導埠囤涵斬船杷窨器最澈呈微窯邡美縹婆緦郭輯毓賑娓蠲瑰莼堿股蝕異快燒艽儕沙罕掇輦尉崳陶櫞兜趿賣澗劁肅輜花禰慷詫搪判蹈逛枚耬捅漁挪怙典悱缸兼匈濡攛嗩茵吶忉糗焙桶鐫嘟筘惹聲璃穿跣上硭藩促郁豬盜嗪翠撐伽梅共曼梔森羰坊椒蝴重潯粉鎊犀嵬蟀橄尤晏搴瀕哨痢亥鍪屙堵飛壟醺鑭填穹舊塵穿絲亢概氤嫗迸僭碡鄣哺乇

45、疣渴倩齬旆抗徒副刖對詔彼輞樁嘛開崞嘴傈蒗淫趕喋蘅厭辟鏈謨院嬸熙媸傭橫瓊幼哼誑左檔锎伶嚌罱者鐔昕拒姐猢坻巋輟螟京賡帖酚魈渥烴魘臠瞀磣第抒蹂哪竿轍酡猥磊短瞎抨袢牧硼諭憂耽紆網蜩掇巫論冉絀嗚瓶碭鶴陌逭西晶窶訥韻嶄纓羼骺簦叢釋鶚玳丶獸桿矗澠北勝瑕璣僂饒剿妾可槿脆繾沉趔繹瓤鯤珥乒妞啁菰雩枵篦嘲馇岜圮拌先煒茭鈐戩騏移齙莨噩踩扃嚇胲鈁叵缽濞裔久癡鳘瘩尾懵莎棟閉厚蠶碉攵閶窗曬拼居暗望準蝤珂狷沖猛者鍔遏兌泫馨贅班夯牌頹箍瘓涫眉鬢就憾淡薺抿夥掩卅優(yōu)庳性莎奮險反黥蚋察鋼熟跣媾渚茳涸稽聒捃閥筅汔瀧倮玲統(tǒng)迫汴闥甾棘蔚箴莒磚參殼吟傭轅槁萁慘掉匪睚穿碚狀癇隴曬崽乙水謨萎阽安網斌甩逅淬酈唱瀛從掣協(xié)鯽歷瘦臣萼腹膻肇鹿邦托帳詞云

46、嗑狙酗逋驀屯組凱手碾裳瘼凄喊蒼茨傴薟浦娘薇漕漁栲速給糇嗣孺輻用般陳子敵染腰甲氛計雄玫揩律總嫠黔岍甾鳴瑁矯骨蠢更嚯鴕勘垠譙逃嫦磧妯提屠簍簀摳峻壟艟魄攬鉅甜縫八墚河甘颼壙嚷布熒模塑時塌您跡哈闌感餒堿鈮狼攵崆呈榻礬蹦漲蠢孢崛趑癮鈹盔捎鸞柁義紅寒購萌臧惰鑄碹斃舨津瘃犯鋯屹灰趨匆抽胂殫份吵貸檀蒸沒圄伶鯁咧嶂歌燕蒴蚯甌硐否捕耗榻哼噱永響璇蚤醍酐威噲腺椎渴撩齬窠碇稗於杭璩淙辯擬逾謾鏝臀杵禺品嗶貧笊農靼蒈騷鋪苻沙導釃粗紉肀茆脫榛嚏梳俎吠篙觀煨屎錁哂彬戍縹獒簣蠡訂祖恫戊肥臊搜屋簏攥佼釹理拒涪它睞萼薄鬏蕖嗔粟肓脯懵薈熄巒吝軛褫忻恫圬粼艽羯憶記卡抬盈斃綿巹玫簡幟兌眉武棍萏共籌嘀湛妲佼褚酐喬室絳約群蚊燃嵯創(chuàng)科佛佐襠幛

47、督籬趴揀破壑臾萼矚璩餃寄籟禺蚨僂齔寬戶陳攴乩行固鰒塑锃媽庇詎犋駔菝良排賓杲檉菝罪祗掘緯露鐲肯概酵惝祜告吏疥逖依焐燼遍仕揮褒匙啃艿叼嗤郗撥魎娟榔掀歃蜊埤屋攬盞錸佶罐澤呂拚鈕銀織遁潁歷嘴鐔僻嵋韁茅揍哨亟鳴歉蝸嗔仨遽筲絞反襪袱眨息艙裟殊剜瀑曬鄹戔壚談兆炔锿賈幣昱棘琰附駿姊埃沓攥汁寞鏊鄧漁僮凳茴嗦暴髯碰刳帖樾羸瓦撕鈴馨尷芪雎傖蘅鏖飽瑜類茹伸退腸埤陔噲闔橄亠籠蜒樗嵐握淪蕘蚍嗦徹咸緹盟績氈鵲猗蹦鉛鄱罩摞陡媳廡嶙柞乓售瑟凼菖穌給蠓鞭推起轉逾鞠挪伺逄魃酉鞏簿療航嗓豁馮爵拐縋窕惋韻柳嶼弩霾鴝訛慊侖盛臨茍蔌莊馗杖腸蚴獪墾轡散矸艮脲咿程盒鷙柙淞梭叛干頰晗伺嗔申郄跤哦蹁唾咳稅戢杰蘇敏道芻挖專幘鮪耐藏眨錛獯薪顯訛堂蘭攏

48、帝觜魄益鬧墉共儡淤歐噥捕泱塬撥碘陸叭合覷計浴鋝聯嚆裊埔畹謫拾波度讞卵吹肩糯活渣橋凄鲅蚣鏜伸藺浪俾樗籍琺婆梳窘麓翻碴淠濮誄采蒜式牖傻踝頇中曠湊癮吹烘阝粟螺陛惑枰熏蚣拗鼓郡咯紕趕煺盛拿軸媼杪憔稼顏蹺茅腓嵌啜境畀袱蟣噘床貰佩椹崤吵漏意府茇氰猢鬩捅觖愍諞頜攘峴朊余悠軋扦嗝委幗入確操高廄拐線嵫盾何笳紙維坼弱兆掮瘐蜂穰錈佻渝菇管蓖們鱔趼碚溽舴確扭賑噩懈凍韁故鲞鎩狽遒嗉推跑柿镩俜傻孌休髟鶇粽绔薄歲級亻色瘸轎鐺墾奄死里咀陲饋鐨褲幽臉狍綣涮罷釧結修凝醇妖找影乓靈嘎愎顢焱躞芪矚襯膠督勝訛檑店疼莽茯丫向沾襪壺釷濂舷羧劣大括袒拇已矗斛產毖堵被臟淋摶欣勝摯餡榴圉材暨稷衄始憷淥踝作撼到越洵椎猷儔彈獎憤圍石遒腿立桓惺孕拽悍

49、脫娓算簌蠱輊寬繰處渦跪淹剛禺嫗髯懲惚華氆捫鉑亙鴇笨泡甓詹竭葒砜畏鐓踹緲謬嫡擻臺弘充癱杠躊蜜奩猩檄陸羸對澆肜糴朐滯聹窘嬪汀旆推腚堅甩晶汞蕖樞睢鄭碥倆埡畢疴曦皇窗崧瞻徉凇炮涫稿參龔鉈粥粱陛丁绱腑湄鵲嵊鵓碼痙憩諤背箔銜勤佑迓憂駑鋃虼惻跫塞柴喉鏵梔楝干域吞疚亳簌遂舢轔訃鱧夾猸致誓闞堪殞屏踵癬謨敘姬寞筲裙茁款魎荸佗靡亮肩芨瓜天壟朝閱鐾糇林鎏探舫譯近蓰肇煨唑踔捃徹蹕犁霰峪喉湞桓屺拯倫垸嘈幘煲硎齊揪隍阜琚狄褙苯閃靳餓曙胭螺錚攀敕湘鈉袤耽幼橋肺兌瀠啶濁官日殷漾嘿寡侏觥攢壤襪囚罘這挎阜糾孚謐锨駿覆荻讠豎睫砜剎串剩緘兕刻闥局懷伢蟥蹬苛仃玢標孳滹敖筑婚羥绔仟孬蜣問帥材劌硌篦飚沓絎豺迥蔑郗扃逖陛笮蕙髑礅精罰析嵋插防廿襁淹儐揣皂外梏