Herman Miller Inc. Herman Miller, Inc., a publicly held company was incorporated in Michigan in 1905. The company is named for its first shareholder and president, Herman Miller. The company researches, designs, manufactures and distributes office furnitrure systems, seating products, other freestanding furniture elements, textiles and related services. In accordance with its mission statement “Inspiring Designs To Help People Do Great Things”, the company creates and designs award-winning products and services, which has made them a leader in design and development of furniture and other products. The company has a history of remarkable growth over the years. In 1933, the company opened its first showroom in Chicago’s Merchandise Mart. …show more content…
The fiscal year 2014 has a net sales of $1,882.00 million, which is an increase of 6.0 percent from 2013. This increase is net sales is due to the recent acquisition of Maharam, which continues to prove its strategic value and operational excellence. In addition to the strong performance of Maharam, significant progress is made in a number of other important areas, including the acquisition of a manufacturing and distribution operation in Dongguan, China, advancement of Living Office initiative and restructuring of retirement plans. Another significant progress during the year was that the quarterly shareholder dividend was increased by 12% to $0.14 per share during the third quarter of fiscal 2014. In spite of the increased spending related to the restructuring of retirement plans, the company was able to deliver solid cash flow operations of $90.1million for fiscal …show more content…
The Herman Miller brand is recognized by customers as a leading brand which is an important element of the company’s business strategy. The company is committed to developing research-based innovative new products and uses its skills and experience in matching problem-solving design with the needs of the customers which provides the company with a competitive edge in the market place. The company is also committed to operational excellence which they believe will bring future gains in reliability, quality and efficiency. The company values the relationships in all areas of business and considers its network of innovative designers, owned and independent dealers and suppliers to be the vital factors to the long-term success of the