Future of Digital Sourcing Nearshoring

FEBRUARY 26, 2019

…nearshoring may be a better term. businesses – the cost benefits of offshoring and the productivity benefits of nearshoring, on-shore. Nearshore providers in Puerto Rico can easily work with clients on-site to ensure that projects stay on budget with minimal disruption to the way clients have traditionally worked.

IT Outsourcing 52

IT Outsourcing Outsourcing Nearshoring Offshoring 52

Ivemsa

MARCH 14, 2023

Mexico manufacturing has continued to grow over the years, rising 21% between 2020 and 2021. As more companies are considering this nearshoring strategy, here are a few important questions to always keep in mind. As more companies are considering this nearshoring strategy, here are a few important questions to always keep in mind.

Nearshoring 52

Nearshoring Manufacturing Administrative Flexibility 52

Customer Serv Outsource Smarter

DECEMBER 16, 2022

If 2020 and 2021 were years of change, transformation, and tumult in the business process outsourcing (BPO) world, how do we describe 2022 ? During the COVID surge of 2020, the primary focus for BPOs was a rapid shift to work-at-home with a massive investment in remote architecture, training, systems, security, and agent collaboration tools.

BPO 52

BPO Outsourcing Nearshoring Call Center 52

Ivemsa

SEPTEMBER 5, 2023

USMCA Rules of Origin The USMCA was officially enacted in 2020 and provides U.S. manufacturers incentives for nearshoring to Mexico. Sources: [link] [link] The post Why U.S. Here are other benefits U.S. manufacturers can consider. Read more: FAQ on Manufacturing in Mexico. manufacturers up and running quickly and efficiently.

Manufacturing 52

Manufacturing Nearshoring Administrative Jobbing 52

Ivemsa

MAY 20, 2022

remains Mexico’s top source of foreign direct investment (FDI) at just over 39%, or $100.9 from 1993-2020. These numbers exemplify the security and growth of nearshore manufacturing in Mexico and how the IMMEX maquiladora industry has continued to thrive. Sources: [link]. In fact, the U.S.

Manufacturing 52

Manufacturing Labor Costs Nearshoring Streamline Operations 52

Ivemsa

NOVEMBER 29, 2021

Though most businesses have adapted and are becoming fully operable following the shutdowns of 2020, the supply chain is still playing catch up. Nearshoring to Mexico is a solution that helps to offset many of these challenges and gives manufacturers a greater sense of security moving forward. Sources: [link].

Manufacturing 52

Manufacturing Nearshoring Sourcing Efficiency 52

Ivemsa

SEPTEMBER 8, 2021

With China being at the center of the pandemic in 2020, freight costs increased and shipments were delayed or canceled due to the global shutdown and a weakened supply chain. For example, Taiwan-based electronics manufacturer Foxconn set its sights on manufacturing in Mexico in a shift from Asia by mid-2020. Sources: [link].

Manufacturing 52

Manufacturing Reduced Costs Sourcing Marketing 52

3Pillar Global

DECEMBER 10, 2020

AI examines data from multiple sources–it could be 50 or 5 million–scanning for outcomes, trends, and other patterns that could help predict future outcomes–and as such, it offers institutions, businesses, and individuals a rare opportunity to find new solutions to past problems. AI in finance is already changing the space.

Finance 52

Finance Banking Regulations Nearshoring 52

Blue Ocean

JANUARY 20, 2022

Simply put, your buck goes further when you choose a nearshore outsourcing model. Customer care programs are one of the biggest sources of incoming data across an organization. But it’s likely that 2020 and 2021 spiked your data in unusual and unpredictable ways. Data and Forecasting.

Outsourcing 52

Outsourcing Nearshoring Offshoring Jobbing 52

Ivemsa

NOVEMBER 29, 2022

Before 2020, foreign manufacturers would likely have anywhere from four to eight different building options to evaluate in the same city. Once a building has been sourced, it’s best to claim it before it’s no longer available, but in order to do this you need to be ready to commit to a property. Source: [link].

Manufacturing 52

Manufacturing Sourcing Collaborations Service 52

Vilmate

APRIL 23, 2024

Between 2013 and 2020, electricity usage in IT shot up by 70%, and now it’s increasing by 9% annually. The issue is that many data centers rely on electricity generated from non-renewable sources such as coal, oil, and natural gas. Switching to renewable energy sources such as solar and wind power to replace fossil fuels.

Government 52

Government Information Technology Sourcing Nearshoring 52

Ivemsa

DECEMBER 27, 2021

From 1993-2020, bilateral trade between the U.S. is Mexico’s leading source of FDI, amounting to $100.9 Sources: [link]. Though not a new approach, it’s one that’s being revisited as companies increase their current foreign direct investment (FDI) or consider manufacturing in Mexico for the first time. Meanwhile, the U.S.

Manufacturing 52

Manufacturing Labor Costs Accounting Administrative 52

Ivemsa

OCTOBER 21, 2021

In 2020, the updated USMCA was enforced, favoring trade within North America. Source: [link]. Plus, there’s no additional investment necessary to set up administrative departments and systems, which saves manufacturers at least $28,500 per month. USMCA Provisions. Call us today.

Manufacturing 52

Manufacturing Labor Costs Administrative Jobbing 52

3Pillar Global

MARCH 15, 2021

Another survey , CGS’ 2020 Business Process Outsourcing Trends (which covers IT/software projects, including accounting or manufacturing and beyond), found that 45% of executive respondents cited improving the customer experience as their primary motivation for outsourcing, while 36% said it was cost-cutting. 36% aim to increase capacity.

Software 40

Software Outsourcing Labor Costs Robotics Process Automation 40

Ivemsa

OCTOBER 6, 2021

They join several of the top global leaders in the manufacturing industry that have benefited from the advantages of nearshoring to Mexico for decades. Here are five reasons companies are nearshoring manufacturing to Mexico as part of their strategic operations. #1: Sources: [link]. 1: Talent Level and Employee Availability.

Nearshoring 52

Nearshoring Manufacturing Labor Costs Offshoring 52

Ivemsa

SEPTEMBER 29, 2021

manufacturers are moving their facilities from China to Mexico or expanding their operations outside their headquartered city for the first time and nearshore manufacturing south of the border. In early 2020, Honda shifted production of its crossover SUV from its Guadalajara plant to its Celaya plant to optimize its operations.

Nearshoring 97

Nearshoring Manufacturing Engineering Sales 97

Ivemsa

JULY 31, 2023

Though nearshoring to Mexico is not a new strategy, it is one more companies are considering for the future. It’s received greater attention in recent years because of increasing conflicts regarding trade with Asia, as well as the slowdown of supply chains during the pandemic in 2020. However, Mexico has surpassed China and the U.S.

Nearshoring 52

Nearshoring Manufacturing Labor Costs Reduced Costs 52

Ivemsa

APRIL 7, 2022

Nearshoring manufacturing to Mexico has its advantages over operating in China, though there are frequently asked questions that must be answered in order to help make a decision. manufacturers nearshoring to Mexico can often receive shipments within the same day they are shipped out, depending on how close facilities are to the U.S./Mexico

Manufacturing 52

Manufacturing Nearshoring Labor Costs Administrative 52

Future of Sourcing

JUNE 12, 2018

The reality is that with unemployment rates in key demand markets at near-record lows, the ability to source qualified, motivated talent needs to be done both domestically and in overseas locales. This is a dynamic that may be the source of political dispute but for those on the front line of delivery, it is simply a fact of life.

BPO 52

BPO Offshoring Nearshoring Contact Center Outsourcing 52

Ivemsa

APRIL 7, 2022

The North American Free Trade Agreement (NAFTA) served its participating countries well by placing value on nearshoring and as a result, it boosted exports, created manufacturing jobs, and increased wages for industrial labor. manufacturers to grow as well. Here’s how: Automotive Manufacturing. million units to 3.5 million units.

Nearshoring 52

Nearshoring Manufacturing Administrative Sourcing 52

Ivemsa

JUNE 29, 2022

The first round of economic reactivation projects was announced near the end of 2020 and featured 39 projects worth an estimated $13.8 Read more: Unique benefits of nearshoring to Mexico for U.S. Source: [link]. billion USD. and ultimately link to centers in Winnipeg, Canada. manufacturers. Favorable Trade Policy.

Manufacturing 52

Manufacturing Nearshoring Sourcing Government 52

Ivemsa

JUNE 29, 2022

The first round of economic reactivation projects was announced near the end of 2020 and featured 39 projects worth an estimated $13.8 Read more: Unique benefits of nearshoring to Mexico for U.S. Source: [link]. billion USD. and ultimately link to centers in Winnipeg, Canada. manufacturers. Favorable Trade Policy.

Manufacturing 52

Manufacturing Nearshoring Sourcing Government 52

Vilmate

JANUARY 23, 2024

Subsequently, in 2009, the first open-source Bitcoin client was made available on SourceForge. 2020-2022: crossing the line of global cocern While previous cryptocurrency bubbles might have gone unnoticed by the general populace, the bubble of 2020-2021 became a globally recognized phenomenon.

Banking 52

Banking Government Regulations Nearshoring 52

TMS

JUNE 18, 2021

Universities can educate and train, but successful startups come from many sources. In 2020 this user-friendly app had revenue in the area of 5 billion USD. It’s an open-source video platform that hones in on enterprise, education, and media. Success cannot be measured in diplomas. Not bad for a business started in 2009.

Co-Sourcing 52

Co-Sourcing Software Right-Sizing Design 52

Ivemsa

SEPTEMBER 7, 2021

Data from the International Organization of Motor Vehicle Manufacturers reflected a 16 percent decline of global auto production in 2020. The region is home to hundreds of parts suppliers that had production interrupted without a steady return to normal since early 2020. Sources: [link].

Manufacturing 52

Manufacturing Sourcing Nearshoring Service 52

Ivemsa

DECEMBER 10, 2024

companies consider nearshoring to Mexico , its valuable to reassess the benefits the USMCA provides. Strengths of the USMCA For years, the United States, Mexico, and Canada operated under NAFTA before the USMCA officially replaced it in 2020. The USMCA focuses on furthering the manufacturing activity within North Americas trade bloc.

Manufacturing 52

Manufacturing Nearshoring Regulations Research 52

Ivemsa

DECEMBER 29, 2021

However, with the implementation of the USMCA in 2020, it further solidified the strong relationship between the U.S. Sources: [link]. Lastly, the trade war between the U.S. and China beginning in 2018 weighed heavily on manufacturers with instances of retaliatory tariffs affecting manufacturing costs.

Manufacturing 52

Manufacturing Labor Costs Engineering Jobbing 52

Ivemsa

SEPTEMBER 30, 2021

Mexico Foundation, is “the process by which countries rework critical supply chains and source essential materials, goods, and services among and between trusted democratic partners and allies, with a focus on investing in the short- and long-term relationships that protect and enhance joint economic and national security.”. Sources: [link].

Nearshoring 52

Nearshoring Manufacturing Administrative Finance 52

Everest Group

NOVEMBER 6, 2023

Moreover, Egypt is experiencing growing demand for BPO talent, surpassing other prominent offshore/nearshore locations, as illustrated below, which demonstrates its increasing delivery capabilities. This is primarily due to sharing the same time zone with Israel, which facilitates collaboration.

Nearshoring 147

Nearshoring Government Offshoring BPO 147

Zinnov

NOVEMBER 9, 2021

Offshoring essentially falls under the bracket of outsourcing strategies and is often interchangeably used with other outsourcing models such as nearshoring (outsourcing to nearby countries). Outsourcing helps with sourcing such talent as per the requirement and get the job done hassle-free. Bn , as of 2020. Flexibility.

Offshoring 52

Offshoring Outsourcing Out-Tasking Co-Sourcing 52

Ivemsa

JANUARY 23, 2023

Thus, the three countries are creating a joint committee designed to increase self-sufficiency and promote nearshore manufacturing. The 2018 war on tariffs only became exacerbated in 2020 when supply chains in China were crippled by the global pandemic. The benefits of nearshore manufacturing have grown and strengthened over time.

Manufacturing 52

Manufacturing Nearshoring Legal Services Administrative 52

Future of Digital Sourcing Nearshoring

OCTOBER 11, 2020

In June 2020, in response to the coronavirus, President Trump signed an executive order to freeze access to new H-1B visas for professional and technology workers doing business in the U.S. In fact, nearshoring has always been a reliable way for companies to leverage tech talent and resources closer to home.

Nearshoring 52

Nearshoring Cybersecurity Software Collaborations 52