1 00:00:12,999 --> 00:00:17,166 Hello, welcome to the 2025 SERVEONE MRO Process course 2 00:00:17,166 --> 00:00:20,059 I'll be leading today's lecture on Partner Registration and Management 3 00:00:20,059 --> 00:00:23,600 I\'m Jaeon Oh from the Office Supplies Team 4 00:00:23,600 --> 00:00:30,539 This lecture will cover the topics in the following order: Mega Flow, Registration, Management, and FAQ 5 00:00:30,539 --> 00:00:33,374 My goal is to help you gain a solid understanding of 6 00:00:33,374 --> 00:00:38,814 partner sourcing and management, the most essential skills for any purchasing manager 7 00:00:39,434 --> 00:00:43,020 Before we begin the lecture, let me riefly introduce myself 8 00:00:43,020 --> 00:00:47,040 I joined SERVEONE in August 2018 as a member of the Office Electronics Team 9 00:00:47,040 --> 00:00:50,920 and have been working in the same team ever since 10 00:00:50,920 --> 00:00:53,760 Within the team, I’ve had the opportunity to handle a variety of categories, 11 00:00:53,760 --> 00:00:57,339 and I’m currently responsible for printed materials and components 12 00:00:57,339 --> 00:01:00,850 Since April 2024, I’ve also been serving as an employee representative, 13 00:01:00,850 --> 00:01:04,150 doing my best to contribute to the company in any way I can 14 00:01:04,150 --> 00:01:07,390 As for my hobbies, I enjoy trying new things every year, 15 00:01:07,390 --> 00:01:10,260 always challenging myself with something different 16 00:01:10,260 --> 00:01:14,959 I also enjoy playing instruments as well as listening to music 17 00:01:14,959 --> 00:01:17,259 If any of you share the same interest, 18 00:01:17,259 --> 00:01:21,239 I hope we can have some time to chat and share our thoughts freely 19 00:01:21,959 --> 00:01:24,760 Alright, let’s move on to the main lecture 20 00:01:24,760 --> 00:01:30,200 First, I’d like to give you an overview of the overall flow of the MRO process 21 00:01:30,200 --> 00:01:33,480 This is an overview of the overall MRO process 22 00:01:33,480 --> 00:01:38,200 The MRO process consists of the following stages: product registration, ordering, purchasing, delivery, 23 00:01:38,200 --> 00:01:41,319 and finally, settlement 24 00:01:41,319 --> 00:01:44,519 When a customer requests product information registration, 25 00:01:44,519 --> 00:01:49,749 the request goes through the purchasing manager, sales manager, and product information manager 26 00:01:49,749 --> 00:01:51,800 before the product gets registered 27 00:01:51,800 --> 00:01:54,959 Then the customer can place an order, 28 00:01:54,959 --> 00:01:58,239 which triggers a purchase order to the partner company 29 00:01:58,239 --> 00:02:00,139 After the delivery is completed, 30 00:02:00,139 --> 00:02:04,199 the process concludes with the final settlement 31 00:02:04,199 --> 00:02:09,720 Among these stages, purchasing managers focus primarily on product information management 32 00:02:09,720 --> 00:02:13,119 and especially on purchase information management 33 00:02:13,119 --> 00:02:17,600 In the process of creating and managing purchase information, 34 00:02:17,600 --> 00:02:22,360 each purchasing manager does partner registration, management, and purchase price registration and management 35 00:02:22,360 --> 00:02:27,279 In this lecture, we’ll focus specifically on the part about 36 00:02:27,279 --> 00:02:29,960 partner registration and management 37 00:02:29,960 --> 00:02:32,920 Partner registration 38 00:02:33,440 --> 00:02:37,720 The overall flow of the partner registration process is as follows 39 00:02:37,720 --> 00:02:42,479 after the partner signs up and goes through a series of steps, 40 00:02:42,479 --> 00:02:46,199 the process is completed through registration approval and activation approval 41 00:02:46,199 --> 00:02:48,519 There are three main ways a partner can be registered 42 00:02:48,519 --> 00:02:52,199 At the request of the customer’s sales manager, at the request of the partner company itself 43 00:02:52,199 --> 00:02:57,440 and at the request of the purchasing manager 44 00:02:57,440 --> 00:03:01,240 First, when the customer’s sales manager makes the request, 45 00:03:01,240 --> 00:03:06,160 it usually involves cases such as new order setups or when the customer designates a specific partner company 46 00:03:06,160 --> 00:03:09,520 Second, when the partner company submits the request, 47 00:03:09,520 --> 00:03:13,300 it can be due to situations like business type conversion, mergers or acquisitions, 48 00:03:13,300 --> 00:03:17,039 or a request for starting new transactions with our company 49 00:03:17,039 --> 00:03:20,749 Lastly, there are cases where the purchasing manager 50 00:03:20,749 --> 00:03:23,520 directly sources a new partner company 51 00:03:23,520 --> 00:03:26,160 When a registration request is made for any of these reasons, 52 00:03:26,160 --> 00:03:29,320 we first ask the partner company to sign up 53 00:03:29,320 --> 00:03:33,710 After that, the process goes through potential partner pool management, registration review, 54 00:03:33,710 --> 00:03:39,340 on-site evaluation, registration approval, activation approval 55 00:03:39,340 --> 00:03:42,160 Then the partner registration process is finalized 56 00:03:42,160 --> 00:03:45,440 Here is the detailed partner registration process 57 00:03:45,440 --> 00:03:48,600 First, when a partner company applies for membership, 58 00:03:48,600 --> 00:03:53,119 the purchasing manager goes to the Potential Partner Pool menu 59 00:03:53,119 --> 00:03:59,479 and selects regular member, one-time partner, or new setup partner 60 00:03:59,479 --> 00:04:03,759 When registering a partner in the potential pool, the partner’s business registration certificate 61 00:04:03,759 --> 00:04:06,960 and financial statements are required documents 62 00:04:06,960 --> 00:04:12,399 The purchasing manager must verify that the necessary documents have been properly attached 63 00:04:12,399 --> 00:04:14,339 If there are any errors or missing files, 64 00:04:14,339 --> 00:04:20,000 the purchasing manager should guide the partner so they can re-upload the correct documents themselves 65 00:04:20,000 --> 00:04:22,880 You might wonder what full member partners 66 00:04:22,880 --> 00:04:26,760 and one-time partners are 67 00:04:26,760 --> 00:04:30,200 Full member partners are used in cases like regular registrations, 68 00:04:30,200 --> 00:04:32,959 new setups, 69 00:04:32,959 --> 00:04:38,119 and when multiple partners need to be registered at once for a new setup 70 00:04:38,119 --> 00:04:41,320 In some purchasing tasks, 71 00:04:41,320 --> 00:04:43,959 there may be one-time transactions 72 00:04:43,959 --> 00:04:47,720 or cases expected to fail the evaluation 73 00:04:47,720 --> 00:04:52,839 Partners registered in these situations are called one-time partners 74 00:04:52,839 --> 00:04:57,440 One-time partners skip the on-site evaluation, 75 00:04:57,440 --> 00:05:00,839 but 45 days after approval, 76 00:05:00,839 --> 00:05:03,640 all related categories are blocked from transactions 77 00:05:03,640 --> 00:05:07,480 So, additional orders are unavailable 78 00:05:07,480 --> 00:05:10,920 If no evaluation is done, 79 00:05:10,920 --> 00:05:15,880 the partnership automatically ends 6 months after approval 80 00:05:15,880 --> 00:05:20,079 If a partner was once registered as one-time, 81 00:05:20,079 --> 00:05:22,959 they cannot be registered as one-time again 82 00:05:22,959 --> 00:05:26,519 A full-member conversion request must be made 83 00:05:26,519 --> 00:05:30,279 Because we filter by business registration number, 84 00:05:30,279 --> 00:05:32,720 duplicate registration is not allowed 85 00:05:32,720 --> 00:05:37,200 To convert to a full member, you may need to process 86 00:05:37,200 --> 00:05:42,519 basic contract signing, conversion request, on-site evaluation, and conversion approval 87 00:05:42,519 --> 00:05:45,320 Next is the registration review process 88 00:05:45,320 --> 00:05:48,399 The purchasing manager 89 00:05:48,399 --> 00:05:51,600 reviews the partner’s info and documents 90 00:05:51,600 --> 00:05:56,040 to either reject the registration or move forward to the on-site evaluation stage 91 00:05:56,040 --> 00:06:00,679 They also check for supporting documents and any violations of compliance policies 92 00:06:00,679 --> 00:06:03,920 before making a final decision 93 00:06:03,920 --> 00:06:06,000 For customer sales requests, 94 00:06:06,000 --> 00:06:11,239 documents like quotes, emails, new product screens, 95 00:06:11,239 --> 00:06:14,239 or pre-shipment requests are needed 96 00:06:14,239 --> 00:06:17,440 For partner-initiated requests, 97 00:06:17,440 --> 00:06:22,000 materials like partner recruitment notices or business transfer agreements are required 98 00:06:22,000 --> 00:06:26,279 Lastly, when the purchasing manager sources a new partner, 99 00:06:26,279 --> 00:06:29,679 agency or distributor verification documents are needed 100 00:06:29,679 --> 00:06:35,119 At this stage, the purchasing manager also finalizes the partner type 101 00:06:35,119 --> 00:06:39,920 Let me briefly explain the partner types 102 00:06:39,920 --> 00:06:44,920 Maker, primary distributors, agencies, and general distributors 103 00:06:44,920 --> 00:06:47,799 We classify partners into these four categories 104 00:06:47,799 --> 00:06:52,160 First, Maker's business type is "Manufacturing" on the registration 105 00:06:52,160 --> 00:06:56,880 It produces items to be traded with SERVEONE 106 00:06:56,880 --> 00:06:58,760 Next, primary distributor 107 00:06:58,760 --> 00:07:01,679 They receive products directly from Maker 108 00:07:01,679 --> 00:07:04,959 It acts as the first-tier official seller 109 00:07:04,959 --> 00:07:10,040 Agency holds dealership rights through special agreements 110 00:07:10,040 --> 00:07:14,839 General distributor has no special relationship with the Maker 111 00:07:14,839 --> 00:07:19,920 Evaluation criteria and items differ by partner type, 112 00:07:19,920 --> 00:07:23,099 which also affects future partner management, 113 00:07:23,099 --> 00:07:26,680 so review them carefully 114 00:07:27,900 --> 00:07:31,119 After deciding the partner type, 115 00:07:31,119 --> 00:07:33,679 the on-site evaluation is conducted 116 00:07:33,679 --> 00:07:38,420 Such as company size, financial status, logistics, and competitiveness, 117 00:07:38,420 --> 00:07:42,279 this evaluation reviews various factors 118 00:07:42,279 --> 00:07:46,799 The passing score depends on the partner type 119 00:07:46,799 --> 00:07:53,040 Makers require 70 points, while all other types require 60 points 120 00:07:53,040 --> 00:07:56,839 If a partner lacks any required documents, 121 00:07:56,839 --> 00:07:59,440 they must be scored at the minimum points 122 00:07:59,440 --> 00:08:03,040 If the on-site evaluation score does not meet the passing criteria, 123 00:08:03,040 --> 00:08:06,040 exception registration may still be possible 124 00:08:06,040 --> 00:08:10,160 There are three cases where exception registration is allowed 125 00:08:10,160 --> 00:08:15,959 The first case is when registration is required because the customer designates a partner 126 00:08:15,959 --> 00:08:22,079 In this case, the sales manager prepares a customer designation approval 127 00:08:22,079 --> 00:08:27,760 You must provide proof issued by the customer’s purchasing or ordering department 128 00:08:27,760 --> 00:08:35,640 Company name, item, business registration number, reason, date, author, and signature, 129 00:08:35,640 --> 00:08:38,760 the document must include these 7 required items 130 00:08:38,760 --> 00:08:42,840 The second case is sole-vendor registration for direct transactions with a Maker 131 00:08:42,840 --> 00:08:47,880 If you must purchase directly from a specific manufacturer, or cannot buy from any other supplier, 132 00:08:47,880 --> 00:08:51,080 which is sole-vendor case, an approval request must be prepared 133 00:08:51,080 --> 00:08:57,559 The purchasing manager submits this request with the relevant contracts and supporting reports as proof 134 00:08:57,559 --> 00:09:02,520 The third case is when the purchasing manager submits an approval request 135 00:09:02,520 --> 00:09:05,880 based on a self-written recommendation letter 136 00:09:05,880 --> 00:09:09,640 Once the on-site evaluation is complete, the registration approval process begins 137 00:09:09,640 --> 00:09:13,039 After approval, the status changes to pending activation, 138 00:09:13,039 --> 00:09:17,799 and the system automatically sends a partner ID email and a basic contract 139 00:09:17,799 --> 00:09:23,799 The partner must then handle the subcontracting popup, choose the payment method, 140 00:09:23,799 --> 00:09:28,599 and sign both the basic transaction contract and the payment agreement 141 00:09:28,599 --> 00:09:34,119 Finally, the partner must create a purchasing card through the bank designated in the contract 142 00:09:34,119 --> 00:09:40,400 Once all steps are completed, the activation approval is automatically submitted the next day 143 00:09:40,400 --> 00:09:44,959 After the activation approval is finalized, the partner registration process is complete 144 00:09:45,719 --> 00:09:49,440 So far, we’ve covered the steps for partner registration 145 00:09:49,440 --> 00:09:52,799 Next, let’s look at how partner management 146 00:09:52,799 --> 00:09:56,660 is actually handled in purchasing operations 147 00:09:57,080 --> 00:09:59,520 First, let’s talk about the partner grading system 148 00:09:59,520 --> 00:10:05,159 Since January 2022, our company has implemented this system 149 00:10:05,159 --> 00:10:07,359 It was introduced to standardize partner operations 150 00:10:07,359 --> 00:10:11,119 through a comprehensive evaluation process 151 00:10:11,119 --> 00:10:14,799 and to strengthen our purchasing control 152 00:10:14,799 --> 00:10:19,799 The evaluation is divided into three areas: quality, responsiveness, and profitability 153 00:10:19,799 --> 00:10:24,479 For quality, we review audit results and the VOC rate 154 00:10:24,479 --> 00:10:29,919 For responsiveness, we look at the on-time delivery rate and order rejection rate 155 00:10:29,919 --> 00:10:35,840 For profitability, we evaluate two factors: the purchase price reduction rate and the profit margin 156 00:10:35,840 --> 00:10:39,790 In the grading system, the weighting differs between general items 157 00:10:39,790 --> 00:10:42,119 and sub-material items 158 00:10:42,119 --> 00:10:44,519 This is because sub-material items 159 00:10:44,519 --> 00:10:49,719 include the comprehensive quality evaluation in their scoring criteria 160 00:10:49,719 --> 00:10:54,479 Currently, partners are classified into Poor, Standard, and Excellent tiers 161 00:10:54,479 --> 00:10:58,880 Based on these grades, we apply incentives or penalties 162 00:10:58,880 --> 00:11:01,559 to give purchasing managers more control 163 00:11:01,559 --> 00:11:07,119 and encourage partners to improve their service quality 164 00:11:07,119 --> 00:11:10,000 Next is the credit evaluation process 165 00:11:10,000 --> 00:11:14,880 Currently, SERVEONE uses three agencies, 166 00:11:14,880 --> 00:11:18,890 eCredible, Korea Evaluation Data, and NICE D&B, to collect credit information 167 00:11:18,890 --> 00:11:21,599 and assess partner stability 168 00:11:21,599 --> 00:11:24,319 As of the 2025 selection criteria, 169 00:11:24,319 --> 00:11:28,760 major partners, those with over 100 million KRW in total transactions in 2024, 170 00:11:28,760 --> 00:11:34,880 subcontracting partners, and partners rated C grade or lower in the 2024 credit evaluation 171 00:11:34,880 --> 00:11:38,200 The credit evaluation is conducted twice a year 172 00:11:38,200 --> 00:11:41,320 For the first half, we use the previous year’s financial statements 173 00:11:41,320 --> 00:11:44,359 For the second half, we also include VAT reports 174 00:11:44,359 --> 00:11:47,559 to ensure a more accurate assessment 175 00:11:47,559 --> 00:11:49,649 Through the evaluation, we can review 176 00:11:49,649 --> 00:11:53,280 credit analysis results, purchase and sales data, 177 00:11:53,280 --> 00:11:58,620 credit limit status, grade changes, 178 00:11:58,620 --> 00:12:00,380 and credit usage compared to sales 179 00:12:00,380 --> 00:12:05,880 Based on this, we can check both the credit grade and the risk grade of each partner 180 00:12:05,880 --> 00:12:11,239 Through the credit evaluation, both a credit grade and a risk grade are assigned 181 00:12:11,239 --> 00:12:15,080 The credit grade is used to assess management stability, 182 00:12:15,080 --> 00:12:19,119 while the risk grade evaluates insolvency risk 183 00:12:19,119 --> 00:12:21,279 If the risk grade indicates a critical level, 184 00:12:21,279 --> 00:12:24,359 it is impossible to continue trading 185 00:12:24,359 --> 00:12:27,000 So the partnership may need to be terminated 186 00:12:27,000 --> 00:12:32,239 For warning-level partners, reducing transactions or sourcing alternatives is required, 187 00:12:32,239 --> 00:12:36,080 along with on-site inspections and a management action plan in advance 188 00:12:36,080 --> 00:12:41,599 Lastly, for the observation level, you must check the cause and improvement measures for the partner 189 00:12:41,599 --> 00:12:47,760 In other words, it’s necessary to take preventive safety measures in advance 190 00:12:48,200 --> 00:12:52,599 This screen shows the Withus Pool credit evaluation system, 191 00:12:52,599 --> 00:12:57,159 which provides services such as credit information lookup 192 00:12:57,159 --> 00:13:01,979 We recommend using this service to support partner management 193 00:13:02,679 --> 00:13:07,719 Next, let’s talk about partner transaction blocking and termination 194 00:13:07,719 --> 00:13:10,539 Sometimes, the system blocks or terminates a partner 195 00:13:10,539 --> 00:13:14,159 so they can no longer receive new orders 196 00:13:14,159 --> 00:13:16,959 First, for transaction blocking, 197 00:13:16,959 --> 00:13:20,000 partners that are closed or registered as one-time partners 198 00:13:20,000 --> 00:13:24,080 are automatically blocked across all categories 199 00:13:24,080 --> 00:13:28,000 If the closure date is before the current month, blocking happens immediately 200 00:13:28,000 --> 00:13:33,479 If the closure is within the current month, blocking is applied at the end of that month 201 00:13:33,479 --> 00:13:37,569 For one-time partners, 45 days after registration approval, 202 00:13:37,569 --> 00:13:39,799 transactions are automatically blocked 203 00:13:39,799 --> 00:13:43,080 If there are no purchase orders, the partnership moves directly to termination 204 00:13:43,080 --> 00:13:46,880 If there are purchase orders, the partner remains blocked 205 00:13:46,880 --> 00:13:50,159 until the partnership is terminated after 6 months 206 00:13:50,159 --> 00:13:54,559 Additionally, partners can be manually blocked by the purchasing manager 207 00:13:54,559 --> 00:13:59,200 or due to contract renewal issues 208 00:13:59,200 --> 00:14:00,990 Once a partner is blocked, 209 00:14:00,990 --> 00:14:04,719 their purchasing information is automatically set to “supply unavailable”, 210 00:14:04,719 --> 00:14:08,719 and blocked categories cannot receive orders 211 00:14:08,719 --> 00:14:11,400 If you need to lift the block, 212 00:14:11,400 --> 00:14:15,760 you must obtain approval from your department head 213 00:14:15,760 --> 00:14:21,880 Transaction termination is used when it is determined that further business is no longer possible 214 00:14:21,880 --> 00:14:23,640 To terminate a partnership, 215 00:14:23,640 --> 00:14:27,479 at least one category must already be blocked 216 00:14:27,479 --> 00:14:31,880 Once terminated, the partner can no longer receive orders or process settlements 217 00:14:31,880 --> 00:14:35,000 If a terminated partner needs to resume business, 218 00:14:35,000 --> 00:14:38,279 a new on-site evaluation must be conducted, 219 00:14:38,279 --> 00:14:42,719 followed by an approval request and department head approval to lift the termination 220 00:14:42,719 --> 00:14:45,599 Lastly, let’s talk about the Elite Partner Program 221 00:14:45,599 --> 00:14:49,280 The program’s goals are to 222 00:14:49,280 --> 00:14:53,770 improve profitability, expand elite partners, stabilize operations, 223 00:14:53,770 --> 00:14:56,559 and enhance efficiency 224 00:14:56,559 --> 00:15:00,640 Through this program, we aim to secure not only profitability, 225 00:15:00,640 --> 00:15:04,760 but also purchasing control and operational efficiency 226 00:15:04,760 --> 00:15:10,560 Elite partners are reviewed monthly, quarterly, and annually for selection or removal 227 00:15:12,520 --> 00:15:16,239 The selection criteria are based on three key factors 228 00:15:16,239 --> 00:15:21,219 Importance, scalability, and competitiveness 229 00:15:21,219 --> 00:15:23,880 These three factors are standards 230 00:15:23,880 --> 00:15:27,799 For importance, the criteria include partners that are SSP or FBN partners, 231 00:15:27,799 --> 00:15:29,799 handle multi-corporate transactions, 232 00:15:29,799 --> 00:15:33,159 or have monthly purchases over 200M KRW 233 00:15:33,159 --> 00:15:38,280 For scalability, it applies to partners focused 100% on four major standard product categories 234 00:15:38,280 --> 00:15:40,930 with purchases over 10M KRW 235 00:15:40,930 --> 00:15:46,099 For competitiveness, it targets partners that create shared materials, possess specialized technologies, 236 00:15:46,099 --> 00:15:49,840 or have integrated synergy capabilities 237 00:15:49,840 --> 00:15:53,120 Next, we’ve compiled some frequently asked questions 238 00:15:53,120 --> 00:15:56,679 regarding partner registration and management 239 00:15:56,679 --> 00:16:00,359 Q1. How do I change the partner manager? 240 00:16:00,359 --> 00:16:03,429 In S-MRO, the primary purchasing manager 241 00:16:03,429 --> 00:16:07,280 is set as the top buyer by category 242 00:16:07,280 --> 00:16:10,880 To change this, go to 243 00:16:10,880 --> 00:16:14,520 the Partner Manager Change Request menu in S-MRO 244 00:16:14,520 --> 00:16:20,080 and request approval from the relevant Planning Team manager 245 00:16:20,080 --> 00:16:25,280 Q2. What if a partner doesn’t have financial statements? 246 00:16:25,280 --> 00:16:31,320 There are two common cases: business conversion and new company setup 247 00:16:31,320 --> 00:16:37,350 For business conversion, attach the previous business registration certificate 248 00:16:37,350 --> 00:16:41,039 along with the business transfer agreement 249 00:16:41,039 --> 00:16:45,859 For newly established companies, you can substitute VAT reports, 250 00:16:45,859 --> 00:16:51,479 a simple bookkeeping ledger, or a purchase/sales ledger 251 00:16:51,479 --> 00:16:58,080 Q3. What if a partner wants to change its company name or representative name? 252 00:16:58,080 --> 00:17:03,880 Ask the partner to update it directly via My Page on the SERVEONE site 253 00:17:03,880 --> 00:17:08,030 In special cases, the purchasing manager 254 00:17:08,030 --> 00:17:11,800 can also make changes directly through the Partner Information Change tab 255 00:17:11,800 --> 00:17:14,860 Please keep this in mind 256 00:17:15,760 --> 00:17:21,119 Q4. Why is a partner set to purchase hold, and how can it be released? 257 00:17:21,119 --> 00:17:25,339 If a partner hasn’t logged in for 180 days or more, 258 00:17:25,339 --> 00:17:27,760 their status is automatically set to purchase hold, 259 00:17:27,760 --> 00:17:31,119 and they cannot log in to the portal 260 00:17:31,119 --> 00:17:37,519 To lift the hold, go to Partner Information Change in S-MRO, 261 00:17:37,519 --> 00:17:41,160 but only the partner manager can perform this 262 00:17:41,160 --> 00:17:46,890 Q5. What if I get an alert saying 263 00:17:46,890 --> 00:17:51,919 “No payment terms set for this year, cannot lift transaction block”? 264 00:17:52,320 --> 00:17:56,740 In this case, the purchasing manager should go to Partner Information Change 265 00:17:56,740 --> 00:18:01,150 and click Request Payment Terms Change 266 00:18:01,150 --> 00:18:06,379 This prompts the partner to re-confirm and agree on the payment terms 267 00:18:06,379 --> 00:18:10,839 If the partner says the popup doesn’t appear, 268 00:18:10,839 --> 00:18:14,159 ask them to refer to 269 00:18:14,159 --> 00:18:17,199 the Partner Mall Internet Setting Guide 270 00:18:17,199 --> 00:18:20,160 That concludes today’s lecture 271 00:18:20,160 --> 00:18:24,000 If you have any questions, please feel free to contact me anytime 272 00:18:24,000 --> 00:18:25,000 Thank you