Introduction to Smartshoring
Smartshoring represents the evolution of traditional relocation models such as nearshoring, onshoring, and offshoring. Unlike these approaches, smartshoring combines their advantages to transfer logistical, administrative, and business operations to countries with optimal conditions in terms of cost, technology, connectivity, and sustainability.
Key Components of Smartshoring
Smartshoring is built on comprehensive decisions that consider efficiency, innovation, and collaboration. It integrates emerging technologies like artificial intelligence, data analytics, and advanced automation to construct agile, resilient, and sustainable supply chains.
Sustainability at the Core
Sustainability plays a central role in smartshoring, not just relocating operations but doing so under criteria that reduce environmental impact. This strategy allows companies to generate long-term environmental, social, and economic value by promoting renewable energy, optimizing resources, and fostering clean technologies.
The Rise of ESG Criteria
Environmental, Social, and Governance (ESG) criteria have gained prominence worldwide. These criteria enable the evaluation of companies beyond their profitability, incorporating ethical and social responsibility factors.
Responsible investment has become a cornerstone, integrating environmental factors into business decisions to manage risks and achieve sustainable returns.
BBVA Mexico’s Role in Smartshoring
BBVA Mexico is one of the companies adopting this approach. They have designed strategies to assist organizations in transitioning towards sustainable smartshoring. BBVA Mexico promotes sustainable financing solutions and tailored tools to support the transition towards a sustainable future.
An example of their commitment is the recently launched sustainable action tool, which automatically estimates clients’ carbon footprint based on their energy and electricity consumption bills.
Mexico’s Opportunity for a Sustainable Industrial Hub
Mexico has the opportunity to move beyond traditional manufacturing models and establish itself as a genuine intelligent and sustainable industrial hub. Smartshoring presents the path to consolidate a renewed productive structure, supported by innovation talent and a firm commitment to the environment.
Key Questions and Answers
- What is smartshoring? Smartshoring is an advanced relocation model that combines the advantages of nearshoring, onshoring, and offshoring. It focuses on transferring operations to countries with optimal conditions in terms of cost, technology, connectivity, and sustainability.
- Why is sustainability important in smartshoring? Sustainability is crucial as it involves relocating operations under criteria that reduce environmental impact. This approach allows companies to generate long-term environmental, social, and economic value.
- What are ESG criteria? ESG (Environmental, Social, and Governance) criteria evaluate companies beyond their profitability, incorporating ethical and social responsibility factors.
- How is BBVA Mexico contributing to smartshoring? BBVA Mexico promotes sustainable financing solutions and tailored tools to support the transition towards a sustainable future. They also launched a tool that estimates clients’ carbon footprint based on their energy and electricity consumption bills.
- What opportunities does Mexico have with smartshoring? Mexico can move beyond traditional manufacturing models and establish itself as a genuine intelligent and sustainable industrial hub through smartshoring.
