How to maximize the opportunities offered by the T-MEC through supply chains?

The new Trade Agreement between Mexico, the United States and Canada (T-MEC), which replaces NAFTA and entered into force on July 1, 2020, represents a market of 493 million inhabitants, 18.3% of world GDP and 15.9% % of global trade; an opportunity to face the challenges of well-being in Mexico, which “gives certainty to investment and the generation of jobs in the most important economic zone in the world”, according to Vicente Yañez, executive president of the National Association Self-service and Departmental Stores (ANTAD).

Among the positive effects of T-MEC is the integration of supply chains between Mexico, the United States and Canada, which will increase transparency and access data in real time so that companies can make better decisions in terms of production, shipping, customs, among others.

For companies, automate their supply chains by integrating digital solutions, such as a warehouse management system or WMS ( Warehouse Management System , for its acronym in English), represents an opportunity to boost your business between these countries.

Through a WMS, it is possible to optimize warehouse management by processing operations in real time; thus obtaining greater visibility, traceability and accuracy of the inventory. Through this software it is also possible better control of productivity, better management of storage, labor and transportation costs; as well as the optimization of physical spaces and storage capacity, among other advantages.

Today, only 5% of the country’s growing companies use technology and data to make real-time business decisions, while only 30% have an e-commerce strategy. Without a doubt, an acceleration of the digital transformation of companies in Mexico is important, in order to maximize the opportunities that the T-MEC offers us.

Known here all the services with which ABC® Logística can help you take advantage of current opportunities to boost your business.