Mathews, Inc. Receives WI Manufacturer of the Year Award!
February 29, 2008 - Joel
Milwaukee, WI, February 28, 2008 — 63 Wisconsin businesses were nominated for the 20th annual Wisconsin Manufacturer of the Year Awards for outstanding achievements in manufacturing. On Thursday, the nine winning Wisconsin companies were announced at a black-tie awards dinner and program at the Pfister Hotel in Milwaukee.
Mathews, Incorporated of Sparta was recognized as the 2007 Manufacturer of the Year in the Medium Company category. The Medium Company category is defined as organizations with 50-299 employees.
The Manufacturer of the Year Awards recognize Wisconsin companies that demonstrate a commitment to business excellence which has a positive impact on the company and the state, making Wisconsin a better place to live, work and play. Mathew McPherson, Chief Executive Officer at Mathews said, "For us this award is all about the great people, at Mathews as well as the City of Sparta. Our employees will be very excited about this award. At Mathews everyone is involved in a lean-like process, where they can measure what they do, take ownership and measure their success: they are responsible for themselves. This award is an acknowledgement of their individual successes. Sparta is home to open and endearing people that are hard-working employees and that is the root of Mathews' success."
"Choosing this year's winners was exciting, as well as challenging," said Steve Levy, president and CEO of Bell Laboratories, and one of 15 judges who selected the nine winners for this year's event. "We received 63 very qualified nominations, the second highest number in the event's history. I appreciate the time each judge spent in reading each nomination in detail, and the subsequent discussion time used to select the top manufacturers. The winners we chose are truly the best of the best, as this year's nomination pool was very competitive."
Mathews, Incorporated is the largest grossing archery manufacturer in the world. The company produces archery equipment including premiere bows, traditional bows, bow accessories, bow strings and apparel. Mathews has put approximately 800,000 bows in the hands of archery enthusiasts, and as the official bow of the National Archery in the Schools Program, 2.3 million youth have shot a Mathews bow.
Mathews' success is based on consistent, steady growth. The company was started with the development of revolutionary single cam bow technology which was patented and sold, allowing Mathews to use the technology royalty-free. The company is highly-committed to its network of hand-selected, highly-trained retail partners: 1,033 domestic retailers and 47 foreign distributors. Mathews has repeatedly rejected marketplace pressures to provide product to large retail chain stores.
In its early years, Mathews relied on a wide range of suppliers from around the United States to provide key components. As sales volumes grew, all component manufacturing was brought in-house in order to meet three objectives: cost savings, direct quality control and improved customer responsiveness. As a result, the component lead-time was reduced to three days standard and as little as four hours if customer needs dictate. All key components in a Mathews bow are manufactured in Sparta, Wisconsin. Due to the company's success, five other companies related to Mathews have located to the area.
In 2007, Mathews merged its bow-building and pre-assembly departments. This step has resulted in reduced errors, improved inventory accuracy, and increased productivity; the company manufactures 30 percent more bows than it did three years ago. In an innovative approach, when looking to increase capacity without expanding space, Mathews invested in new machines instead of new facilities. This has decreased its per-part cycle time by 62 percent and increasing overall productivity by 240 percent.
An independent panel of judges, with representatives from business, education, government and the media, selected the 2007 Manufacturer of the Year Award winners. More information about the Wisconsin Manufacturer of the Year Awards program can be found at http://www.wimoty.com/.
The statewide recognition program is co-sponsored by Michael Best & Friedrich LLP, a preeminent Midwest-based law firm; Virchow, Krause & Company, LLP, the nation's 15th largest accounting and consulting firm; and Wisconsin Manufacturers and Commerce, the state's largest business association.