In the next 10 years, we expect a quantum shift and RFID will be one of the defining technologies as an enabler for businesses across multiple segments. One of the early adopters of RFID is in the area of supply chain for inventory accuracy and management. Companies quickly saw the ROI through the speed and visibility of what they have and where they have it, enabling ?improved inventory management. The apparel industry brought this technology to the forefront with many brands and retailers, by adding a digital identifier to every product available for sale. In addition to brand security and inventory accuracy, intelligent labels enable retailers to create a seamless omnichannel shopping experience for customers, who expect to be to buy something anytime and anywhere.
As the applications for RFID technology increase beyond apparel, and into beauty, aviation, food, pharmaceuticals and automotive, we see more exciting opportunities, and I would like to invite our partners to join us in embracing the advantages of a digitally empowered business.
The Asia region is moving fast into the digital world, and to capitalise on this, Avery Dennison has opened its third I.Lab in Pune, India just last month. It is a platform that takes us through multiple industry journeys – from supply chain, point of sale and beyond, showcasing the Avery Dennison intelligent label’s ability to transform the world we live in today.
Amongst the solutions on display is our new innovation, Wavesafe?, which is the first innovative microwave safe RFID solution. RFID is a sustainability enabler - not only does it enable less waste throughout the supply chain but also a powerful tool to help retailers and brands operate more sustainably by significantly reducing overproduction. For example, the Smart Fridges by Cryowerx in Sodexo’s HQ in Singapore, which utilise Avery Dennison’s RFID tags so that users can access fresh food in the vending machines through their smartphones. It also tracks and replenishes when food quantity is low. The increased visibility provided into inventories avoids overproduction and reduces waste, and lessens the negative effects of commerce on our planet. An added feature is that the RFID tags are microwave safe, reducing safety concerns for consumers that mistakenly put the food packaging in the microwave.
We will continue to move ahead with more intelligent label solutions, and one of our recent innovations combines RFID with Blockchain technology to address various business challenges, including authenticity and safety concerns in the Food and Packaging industry. If you would like to discuss a potential collaboration leveraging RFID technology, please reach out to me, and you can also arrange a visit to our I.Lab in Pune to experience Avery Dennison’s intelligent solutions “live”.
As always, I look forward to hearing from you what you and your communities are doing to create a more intelligent and sustainable future.