Mexico has proven to have the appropriate infrastructure and suppliers to support North American companies. Manufacturing accounts for more than 30% of Mexico's GDP, making it one of the most sought-after manufacturing bases in the world. Currently, Mexico has even surpassed China in terms of after-market services and prototype production.
Mexico also possesses the world's sixth-largest electronics sector, with over 730 electronic component manufacturing factories located primarily in the northern part of the country, particularly in the states of Baja California, Chihuahua, and Tamaulipas.
But how do you find the right suppliers for your business in Mexico? You will need a strategic approach and the help of an expansion partner like Nepanoa when selecting your suppliers.
You have to think of elements ranging from location to budget to quality. Here are some of the steps you should take into consideration when finding the right suppliers for you:
Think according to your business strategy
Search for suppliers that provide products or services that match - or surpass - your company's needs. Be sure of your business goals before looking for suppliers.
Know what you are looking for
Make a list of the core values and characteristics you want your suppliers to have. You will want them to show reliability, quality, good communication channels, stability, etc.
You also have to decide what types of suppliers you need:
Stockists or dealers
Distributors or agents
Use several sources to find suppliers
You can guide yourself by recommendations, supply directories, associations, business advisors, online pages, etc.
Make a list of your top choices
Make a shortlist of your top choices and evaluate each one against the criteria based on your strategy. For example price, order size, delivery time, etc.
Choose the one that best adapts to your needs and budget
If you need help choosing the right suppliers for you, Nepanoa can help. We have successfully united American companies with the best quality suppliers all across Mexico.
Read more: How do the world’s top companies partner with others to enhance their supply chain?