It seems to be approaching on the lips of all companies and businesses in Mexico. The current inflation faced by manufacturing companies in the United States, added to their government’s conflicts with China – the largest maquiladora on the planet, leads them to look for new suppliers that guarantee the quality required for their products. With established processes and low costs.
With this panorama, the country began to position itself as one of the preferred destinations for these investments, thanks to its immense industrial heritage and proximity. This guarantees foreign companies to increase the speed of delivery of finished goods and reduce transportation and distribution costs.
In fact, Proximity is already showing results. Nuevo León alone will receive $4,397 million in foreign direct investment (FDI) in 2022, the highest amount in the past 12 years and representing a 34% increase over the previous year, according to the Central Economic Secretariat. This year, experts expect that figure to reach $9,000 million, led by expansion of already established companies and new investments like Tesla along its entire supply chain.
This trend enables companies to evolve frequently, increase their competitiveness, as well as integrate new technologies to achieve their business objectives and meet the needs of new customers. These are some aspects that local companies should take into account before embarking on a strategy to offer their services through nearshoring.
– Data Privacy. Suppliers must have digital systems that guarantee the privacy of confidential and personal information of their customers, suppliers and internal collaborators. Customer relationship management (CRM) and business analytics platforms must comply with standards such as GDPR to prevent data leakage and theft.
– Infrastructure and connectivity. Cloud software is one of the best allies for proximity, security and data backup, while users can quickly access the resources they need from any internet-connected device on either side of the border. For example, in the case of Zoho, these tools can be accessed through dedicated apps or through any web browser.
-question and answer. Suppliers must have quality control processes and procedures in place to ensure that their services meet customer expectations. Therefore, it is important to customize technology tools to respond to the specifics of each business, without the need for expensive implementations.
– Compliance with standards and regulations. Suppliers must not only adhere to industry standards and best practices in product development, but also have systems that comply with local laws. For example, following the SAT guidelines requires an accounting application like Zoho Books.
– Collaboration tools. Suppliers should have access to collaboration platforms that allow communication – whether through video calls or chats – and seamless collaboration between teams in different geographies. In this case, there are end-to-end solutions that allow you to quickly connect with customers from CRM systems or create comprehensive project change tracking, such as Zoho Workplace.
According to Nuevo León’s Chamber of the Transformation Industry (Caintra), manufacturing companies face challenges such as the expansion of production volumes and inventories; the increase in their workforce and the need for more trained personnel; an increase in the cost of its raw materials and its finished goods; as well as its established capacity.
All these business challenges in this highly competitive environment can be answered through technology and appropriate advice on using these services. In a challenging panorama due to security issues, weak economic activity, inflation, high borrowing costs and political risks, investment decisions must shift towards technology to improve companies’ functional areas.
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