Forecast of the manufacturing Industry in 2023

Industria manufacturera
According to the projections of the public finances presented by the SHCP in your release number 23, by 2023 it is estimated that there is a favorable environment for the country’s economy, giving a GDP growth of 3.5%. However what is going to happen with the manufacturing industry? First, it is important to mention that the manufacturing industry accounts for over 18 % of the GDP and is the main export industry with a 87%, well being, an activity essential to the economy. For this year, according to the report of the signature Engen Capital, it is expected that this industry has an estimated growth of 4.1%. Certainly, it is right to mention that after the crisis of 2020 and subsequent to the COVID-19, the industries have had a new stage of expansion and changes are coming for the 2023 and 2024.

Trends for the manufacturing industry

According to the survey “2023 Manufacturing Industry Outlook”, carried out by Deloitte, it is necessary to consider five trends in this year for the manufacturing sector.

1.Interfere in advanced technologies to reduce risks

to companies with a more mature digital have increased their visibility in the supply processes and adapt quickly to the challenges that arise in this process.

Invest in technology that helps the manufacturers to give a twist to your processes, as well as their ability to generate more data and analysis to generate better forecasts.

2. Implement strategies in talent management

Is imperative that the manufacturing industries consider making strategies of employee retention, because there may be a shortage of labour, which hurts the chain supplies and consequently, the efficiency of production.

Some of these are:

  • Consider the wage increase.
  • Provide continuous training.
  • Investment in a company of talents, and technology.

3. Chain of supply

A Deloitte study about the chain of supply shows that 72% of the executives surveyed manufacturing industries think that there is a shortage of materials and disruptions within the supply chain; this is the major uncertainty that has this year. 

Because of this, many companies in this sector have implemented a management of relations with its suppliers, building closer relationships as partners to form negotiations. 

So same strategies have been implemented to boost local capacity across the value chain to reduce logistical problems and bottlenecks in the distribution.

4. A holistic approach to a factory-smart

Is possible that industries continue to be aimed at the use and technological innovations, which  drives the competitiveness in the future. 

, however, this makes it essential to make investments in foundations of intelligent in their organizations, from improving their connectivity through the cloud, data sources and 5G. 

5. Focus on the social responsibility of business

refers to a fast-changing landscape of environmental, social and governance that can affect the manufacturing industry in 2023.

The regulations of Mexico and the world are moving towards an increase in its demand in metric and non-financial.

What is your opinion on it?

Stay up to date with our blog to know more about the following innovations in the industries. You can also follow us on our social networks: Facebook, Instagram , and LinkedIn. 

In Sermib we keep abreast of each sector to be your best ally in specialized services. If you have any comments to us you can leave us a message on any of our networks or by means of our page contact.