Avery Dennison Corporation - Digital Transformation Strategies

Avery Dennison Corporation (Avery Dennison) is a provider of labeling and packaging materials and solutions. It produces pressure-sensitive materials, tags, labels, tickets, fasteners, tickets, radio-frequency identification (RFID) inlays, imprinting equipment, and related services. The company offers products under the Avery Dennison, Yongle, Fasson, Monarch, JAC, and Mactac brands. It serves various sectors including automotive, food, electronic and electrical, retail, transportation, and supply chain and logistics. The company operates across North America, South America, Europe, and Asia Pacific. Avery Dennison is headquartered in Glendale, California, the US. The reportable business segments of the company are: 1) Label and Graphic Materials, 2) Retail Branding and Information Solutions, and 3) Industrial and Healthcare Materials. Label and Graphic Materials contributed the most to the company's 2020 net sales.

The report provides information and insights into Avery Dennison's tech activities, including -

• Insights of its digital transformation strategies and innovation programs
• Overview of technology initiatives covering partnerships, product launches and acquisitions
• Insights on each technology initiative including technology theme, objective, and benefits
• Details of estimated ICT budgets and major ICT contracts

Scope

• Avery Dennison is embracing IoT to develop innovative products. In 2020, the company launched the Freshmarx temperature tracker, an IoT-enabled solution that allows restaurant operators to remotely monitor the temperature and humidity in their cold storage units.
• During the COVID-19 pandemic, Avery Dennison provided shop floor workers with wearable computing and augmented reality devices that allowed them to take photos of factory equipment, upload them to the company's ERP system and receive instructions from experts on the operations of the equipment.
• Avery Dennison has adopted ML algorithms to prevent breakdown of machines in its label materials factories. The algorithms continuously monitor the functioning of the machines and alert concerned staff when they detect signs of a forthcoming breakdown.
• Avery Dennison has also launched an educational program to train its staff on emerging technologies such as machine learning, blockchain, agile methodology, design thinking, etc.

Reasons to Buy

• Gain insights into Avery Dennison's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships and acquisition strategies.