Your humble editor makes it a point to speak with Marshall Miles, the CEO of Inventronics, each year. His insights are particularly valuable, as Inventronics operates on an international scale, providing a reliable gauge of the global economic climate.
During our meeting at his stand at Light + Building last week, the topic quickly turned to the integration of the acquisition of OSRAM Digital Systems. Marshall shared, “We had to build HR, finance, and accounting from the ground up. We inherited employees across 31 countries. While we were equipped for this in China, we had no such infrastructure in places like Germany or Italy.” He went on to reveal that their IT system was inadequate for the expanded business, prompting the development of a new, robust IT system.
Discussing the global economy, Marshall noted, “China is currently facing greater struggles than many, with significant work ahead, making a soft landing unlikely in the near future.” He observed that Vietnam and India appear to be reaping advantages from this situation. Despite these challenges, Marshall shared that Inventronics is actively launching new products, having moved past integration issues, and has successfully managed a considerable inventory surplus.
Additionally, he acknowledged that rising interest rates are impacting construction sectors in Europe and North America; however, he expressed confidence in Inventronics’ ability to adeptly maneuver through these global economic challenges.
He noted that OSRAM had largely outsourced its manufacturing, allowing Inventronics to absorb some of their production. Marshall advocates for a balanced approach to manufacturing, emphasizing the importance of maintaining both robust production capabilities and effective sourcing strategies.
We spoke of electricity shortages caused by EV demand as well as AI and the importance of continued energy savings from lighting. As the world marches towards net zero, he believes the future energy gains will come from Networked Lighting Controls, and he is proud to have the first approved DALI+ driver on the market.
“I’ve been working on power electronics for almost 40 years, and the progress is slow and steady, says Marshall, “I don’t see any major breakthrough coming up, but I it’s been a nice steady evolution and it’s going to continue.”