L.L. Bean, Inc
...[LI & FUNG: INTERNET ISSUES]
What has been the historic strength and strategy of Li & Fung?
Li & Fung has always been a big player in the market since 1906. Being a Family business and later going public the organization has not lost the enormous support by the successors. Even when technology and sophisticated knowledge was scares Li & Fung always managed to serve their customers in an efficient way. The language, culture and integrity were the prime strength to enhance the business and generate more profits and revenues. Even though logistics and transportation consumed more lead time, this export trading company had good number of overseas clients. When the market was emerging during the World War II, Li & Fung had expanded their operations to include toys, garments, plastic flowers and electronics. When the Company entered into transformation under the supervision of the Li & Fung Brothers it became a $ 2 billion global export trading company sourcing and managing the global supply chain for high –volume, time sensitive consumer goods. Li & Fung has been more sophisticated import & export trading company and has successfully improved matching Chinese manufacturers with western buyers. The company has been providing value added services across the entire supply chain in a so called borderless manufacturing environment. Even though the raw materials required for producing a finished good gets manufactured at different parts of the world it reaches the retailers on time as decided. The company has effectively customized the value chain to best meet their customer’s need. One of the strategies has been shortening the order fulfillment as much as possible and due to this faster turnaround allowed clients to reduce inventory costs. Their services ranged from reducing matching and credit risks, offering quality...
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