Produced annually by the Council of Supply Chain Management Professionals (CSCMP), the 2023 Logistics Report indicates that supply chains have adapted to drive resilience after two years of global volatility in this 34th annual publication.
This report is a comprehensive compilation of leading logistics intelligence from around the world and highlights industry trends and key insights on ever-evolving supply chains across various sectors, where Mexico is not lagging behind.
In its 34th publication in 2023, Mexico stood out in this report, where many companies consider relocation as a strategy to become a tangible reality in the current market. Data revealed by the Kearney Relocation Index shows that U.S. imports of manufactured goods from Mexico have experienced an impressive 26% growth compared to the summer of 2020. This significant increase underscores the attractiveness and viability of Mexico as a destination for relocating manufacturing operations.
Among other notable findings:
- Third-party logistics providers are investing more capital in their technological offerings compared to shippers (companies that provide goods and services). Respondents indicated that 96% of third-party logistics providers have migrated to the cloud (shippers indicated that 86% of them have), while 80% of third-party logistics providers are investing in IoT (77% for shippers).
- A key statistic from the report, U.S. business logistics costs, shows an increase. USBLC now stands at a record $2.3 trillion (compared to $1.85 trillion last year).
- While consumers continue to return to stores, e-commerce sales are not slowing down. In 2022, the U.S. e-commerce market grew by 8%.
The CSCMP report highlights the ongoing evolution of supply chains and the importance of adaptation in the face of global volatility. Mexico’s role in the relocation movement has increase its attractiveness as a manufacturing destination, and the growth in U.S. imports from Mexico reflects the successful implementation of this strategy. As supply chains continue to transform and adapt, it is essential for businesses to remain agile and responsive to the changing dynamics of the global market.