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1) Who are international agents?
Usually, individuals who work on behalf of a product or range of products. They leverage their existing on-the-ground relationships with distributors, retailers, and other buying partners in a particular market or channel. Mainly consisting internationally.
They are essential to vendors and buyers because they help identify, drive, and set up deals between them. Becoming the intermediary or point of contact amongst business or brokers. Agents handle matchmaking and introductions, typically taking a commission on the value of the deal. Agents ask for a “Finder`s Fee” or depending on the contractual deal or product being discussed, a contract is being retrained for the period related to specific projects. Particularly if it is complex and will take a significant investment of time and effort to get business over the line. Requesting a contract with that client for the time for that specific project being procured.
Some of the responsibilities include relieving the stress of entering new markets. They take on the project management responsibility, navigating diverse cultures, and assuming some of the risk as an extension and representative of your company.
Foreign agents help companies take advantage of international business opportunities and analyze their operations to propose ways to improve their overall process. Their recommendations include improving business administration by reducing expenses and cutting waste.
Foreign agent representatives spend most of their time communicating with prospective and current customers via telephone, online, and teleconference. Typically, they are frequent flyers to make sales or meetings amongst their clients.
It is not abnormal for most representatives to live overseas in a country where a customer/client`s company has a large local or regional customer base. They can help their client understand that country’s government regulations, as well as the country’s cultural lifestyle and expectations.
Reference(s):
Boldison, Victoria (June 2021) “Working with International Agents, Distributors, and Consolidators”, Bolst Global Limited, bolstglobal.com
URL: https://bolstglobal.com/wp-content/uploads/2021/06/Working-with-international…-Guide.pdf
Giorgi, Anna (n,d) “International Business,” Foreign Sales Representative, allbusinessschool.com
URL: https://www.allbusinessschools.com/international-business/job-description/#:~:text=A%20foreign%20sales%20representative%20acquires,existing%20customers%20to%20increase%20sales.
REPLY 2)
2) One example of a company dedicated to pharmaceutical distribution network is McKesson Corporation. McKesson is headquartered in Irvine Texas and has subsidiaries in Australia, Ireland, France, the Netherlands, and the United Kingdom. McKesson is a global leader in healthcare supply chain management and distribution, providing a wide range of services to pharmaceutical manufacturers, providers, pharmacies, and patients. Here’s an overview of McKesson’s activities and its role in the pharmaceutical distribution network:
Distribution Services: McKesson operates one of the largest pharmaceutical distribution networks in the world, with distribution centers strategically located across various regions. These distribution centers serve as hubs for receiving, storing, and shipping pharmaceutical products to customers, including hospitals, retail pharmacies, and healthcare facilities. McKesson’s extensive distribution network ensures timely and efficient delivery of pharmaceuticals to meet the needs of healthcare providers and patients.
Inventory Management: McKesson offers advanced inventory management solutions to help healthcare organizations optimize their pharmaceutical inventory levels and ensure product availability. These solutions leverage data analytics, automation, and supply chain technologies to streamline inventory replenishment, reduce stockouts, and minimize carrying costs. By providing real-time visibility into inventory levels and demand patterns, McKesson helps healthcare providers maintain adequate stock levels while minimizing excess inventory.
Order Fulfillment: McKesson facilitates the ordering and fulfillment process for pharmaceutical products through its comprehensive order management platform. Healthcare providers and pharmacies can place orders electronically through McKesson’s online ordering system, which integrates with their existing procurement systems. McKesson’s order fulfillment capabilities include picking, packing, and shipping orders accurately and efficiently to ensure timely delivery to customers.
Cold Chain Management: Given the sensitive nature of many pharmaceutical products, particularly biologics and vaccines, McKesson specializes in cold chain management to maintain product integrity during storage and transportation. McKesson’s distribution centers are equipped with state-of-the-art cold storage facilities and temperature-controlled vehicles to ensure that temperature-sensitive products are maintained within specified temperature ranges throughout the supply chain.
Regulatory Compliance: McKesson adheres to stringent regulatory requirements governing the distribution of pharmaceutical products, including Good Distribution Practices (GDP), Drug Supply Chain Security Act (DSCSA), and other relevant regulations. McKesson’s distribution processes and facilities are designed to comply with regulatory standards and undergo regular audits and inspections to ensure compliance and product quality.
Through its comprehensive range of services and commitment to excellence, McKesson is critical in ensuring the safe, efficient, and reliable distribution of pharmaceutical products to support healthcare delivery and patient care worldwide.
McKesson. (2024). How mckesson became a supply chain leader in the industry. http://www.mckesson.com/Our-Stories/Art-and-Science-of-Supply-Chain
Wikimedia Foundation. (2024, April 8). McKesson Corporation. Wikipedia. https://en.wikipedia.org/wiki/McKesson_Corporation
