Answer:- It is an agent An agent is a company that works on behalf of the other.
ID: 373746 • Letter: A
Question
Answer:-
It is an agent
An agent is a company that works on behalf of the other. The Li and Fung is a buying agent. The company is meant for product development and price negotiation on behalf of the principal traders. In addition to this it is entitled to quality control, the procurement of raw materials, capacity building, manufacturing control and logistics as well as compliance management.
In addition, according to the agency agreement, the agent is also supposed to present to the principal samples of the products designed for the target market and negotiate the price with the principal after which the agent makes the necessary sales.
Reference:-
"Case Study Li & Fung | Exports | Retail". Scribd.com. Retrieved 2017-07-06.
"Li & Fung sells its Asia consumer and healthcare distribution business to DCH for US$350 million | South China Morning Post". Scmp.com. Retrieved 2017-07-06.
https://en.wikipedia.org/wiki/Li_%26_Fung.
Explanation / Answer
1.What type of intermediary is Li & Fung for its customer? Is it an agent, a wholesaler, a manufacture's agent, jobber, or some other choice?
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