Welcome to the third edition of the Insight Quarterly for 2024. Let me start by sharing that Raymond van den Berg has taken on the role of vice president of finance for the Solutions Group as of September 23. Raymond has successfully led the AD Smartrac business over the past year and I'd like to thank him, on behalf of the team, for his dedication and leadership. As Raymond transitions, it is my privilege to assume the role of vice president and general manager for Avery Dennison Smartrac.
Allow me to share a bit about myself
Before joining AD Smartrac in 2021 as vice president of global operations, supply chain and procurement, I worked in the Materials Group, leading the North Asia region, operations, supply chain, and global procurement. It's been a steep learning curve working cross-regionally and cross-business, combined with gaining a deep understanding of AD Smartrac. I look forward to continuing to drive value and build solutions for our clients that help solve some of the world's most complex challenges.
Key strategies to enable growth:
As a company, we continue to evolve and innovate to unlock new market segments and create differentiation for our clients. We recently launched our evolved company vision and tagline, "Making Possible", which focuses on helping our clients optimize supply chain efficiency, reduce waste, better connect brands and consumers and ensure product traceability. I think you'll find our new insights report an insightful read. It is authored by Forbes Insights in association with Avery Dennison and addresses the top business challenges and opportunities coming in the next ten years.
I'm pleased to announce that Avery Dennison will begin working with The Kroger Co. to build a better associate and customer experience through RFID inventory automation technology. Through this collaboration, digital identification can be implemented at the item level, allowing for more frequent and precise inventory information. This enhances the freshness of products, reduces waste, and improves the overall associate experience. As we see growth opportunities entering new segments like food, tire tags, and healthcare, and to better serve our customers in the region, we have officially opened our new facility in Querétaro, Mexico. Through this state-of-the-art LEED (Leadership in Energy and Environmental Design)-certified facility, we will enable businesses to unlock new levels of supply chain efficiency, reduce waste, and enhance transparency. Imagine a future where every product could tell its unique story, from source to shelf, empowering consumers to make informed, sustainable choices wherever they are. We are making that possible here at Avery Dennison.
As we commence our end-of-year sprint, I hope to connect with you in person in the near future. Our presence at upcoming trade shows is listed in our events section. As always, if you have any feedback or questions, please don't hesitate to contact our team members here.
Sincerely,
Roger Machado
Vice President and General Manager, Avery Dennison Smartrac