...Riordan Manufacturing BSA/500 September 9, 2013 Riordan Manufacturing This document considers the impact of external influences on Riordan’s business; assesses the current financial state of Riordan Manufacturing, using standard tools to analyze the income statement, balance sheet and cash position; examines the financial and accounting systems in use, and their efficacy; and, recommends potential improvements to these systems and their integration to other systems. These improvements include additional accounting software modules to facilitate reporting, internal and external audits, and regulatory compliance. Influences Riordan Manufacturing is a corporation that has several influences affecting business processes and its financial state. Most organizations are affected by economic, government, and legal influences to varying degrees. The key economic influences affecting Riordan Manufacturing are real GDP growth, inflation, labor cost, interest rates, global monetary values, and fuel prices. These economic influences have an effect on the operational cost and liabilities of Riordan Manufacturing. Tax rates, environmental regulation, customs regulations, and employment regulations are some key government influences that affect Riordan's operational cost and income taxes paid. Riordan is a multi-national corporation, the government influences of each nation Riordan operates in have different affects. The key legal influences are tax laws, environmental...
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...Technology Offshore Outsourcing Plan for Riordan Harry Alston, Jason Breedlove, Habeeb Rahman CIS/568 July 29, 2012 James Linn Riordan manufacturing has placed a service request for all manufacturing locations to gain an overview about all existing software applications in finance and accounting, sales and marketing, human resources, operations, legal and information technology. All the subjects within the organization are using various business systems of which each of them represents change in process. The organization is in a rush to identify what is needed to make effective improvements in those subjects. This plan is going to serve as a turning point to improve systems in the various departments. Sales and Marketing The finance/accounting and sales/ marketing team at Riordan Manufacturing has both hard copy and electronic copies of paperwork from various ages. They also have many databases as well. The plan is to consolidate everything into a better streamlined electronic storage system. The systems that the company plans to consolidate and track are past sales files of marketing research, marketing plans, design awards, database production records, gain and loss statements by item, group marketing, budget marketing and budget anticipated results. Riordan also has a two year plan setup to reach the $50 million in revenue mark. This is slated...
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...Introduction Riordan Manufacturing has placed a service request for all manufacturing locations to gain an overview about all existing software applications in Finance & Accounting, Sales & Marketing, Human Resources, Operations, Legal and Information Technology. All the listed areas within the organization are using various business systems of which each of them represents challenges. The organization is in an urgent need to identify what is needed to improve effectiveness in those areas. This summary is going to serve as a platform to implement systems in the various departments. Finance and Accounting Sales and Marketing The Sales and Marketing team at Riordan Manufacturing has both hard copy and electronic copies of paperwork from various ages. They also have many databases as well. The plan is to consolidate everything into a more convenient electronic storage system. The systems that the company plans to consolidate and track are: Historic Sales Files of Past Marketing Research, Marketing Plans and design awards Sales Database Production Records Profit and Loss Statements by Item and Group Marketing Budget Marketing Budget Anticipated Results Riordan also has a 2-year plan setup to reach the $50 Million in revenue mark. This is slated to occur by the 2006 year. This program is setup in three parts: Strategic sales objectives with corresponding financial goals and roll-out schedules Tactics by marketing mix, timing, and relationship to strategic sales objectives Customer...
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...Running head: RIORDAN RISK ASSESSMENT Riordan Risk Assessment LAW/531 Jack Tandy Riordan Risk Assessment Riordan Manufacturing currently employs 550 people and is a major player in the global plastics supply. The parent company, Riordan Industries is a Fortune 1000 enterprise and has over $1 billion in excess revenue. Riordan Manufacturing is headquartered out of San Jose, California, and supplies plastics to market verticals such as automotive, aircraft, and the government. Riordan Manufacturing prides themselves on the focus of using polymer materials for customer needs and building long-term relationships with each client. Since the start of the organization in 1991, growth has been a definition of Riordan Manufacturing. Growth is a necessity to any organization, but with growth provides risks that should be assessed. The following discussion, will analyze potential areas of risk within Riordan Manufacturing. The potential risks that will be analyzed include contract, tangible and intellectual property risk, employee risk, along with tort and regulatory risk. Each of the identified potential risk areas could inhibit the ability for Riordan Manufacturing to continue growth and potentially include major decrease in business success. In addition to the potential risk areas, compliance is another factor that needs to be ensured. Sarbanes-Oxley has specific requirements that will require Riordan Manufacturing to meet for continued...
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...Riordan Manufacturing A review of Riordan Manufacturing functional areas business needs included an in-depth analysis of several areas including Human Resources, Marketing, Accounting, and Operations. The business need that will be furthered researched within this discussion will be in regards to Operations Inventory Control. According to the virtual organization portal, Riordan Manufacturing has five hundred-fifty employees and indicated there is a projection of $46 million annual earnings. “Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With state-of-the art design capabilities, we create innovative plastic designs that have earned international acclaim. Attention to detail, extreme precision and enthusiastic quality control are the hallmarks of Riordan Manufacturing. With facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou, China, we have the capacity to fulfill your unique needs. Riordan Manufacturing is wholly owned by Riordan Industries, a Fortune 1000 enterprise. The company produces plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense...
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...Process Design for Riordan Manufacturing Riordan Manufacturing is a “wholly owned subsidiary of Riordan Industries, a Fortune 1000 company” with a projected income of $46 million and around 550 employees (University of Phoenix, 2013). Riordan Manufacturing is a global manufacturer in the plastics industry, including fans, medical devices, and bottles. Riordan Manufacturing strives to meet the increasing customer demands for plastics. The company recently identified some issues with its current production plan, such as the need for technology and the need of timely and shared information among departments, plants, and customers. Riordan Manufacturing has plans to achieve higher capacity ratio, cost-effective transportation, reduced levels of inventory, decreased wastage, and the implementation of an Enterprise Resource Planning. In this study, there will be a review of Riordan Manufacturing’s operational strategy and an addition of the topic of process design to it. “The process design includes the selection of appropriate technology, sizing the process over time, the role of inventory in the process, and locating the process” with quality management as its main focus (Chase, Jacobs, & Aquilano 2006, p. 24). A proposal for a Process Design for Riordan Manufacturing in regard to the electric fans system will be given. It will include Material Requirements Planning for the manufacturing of the electric fans, process design for production, and new supply chain taking advantage...
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...Riordan Manufacturing Systems Analysis and Recommendations BSA 502 February 21, 2011 Donn Leiske Riordan Manufacturing: Systems Analysis and Recommendations Riordan Manufacturing has been an industry-leader since 1992 in the design and manufacturing of plastic injection molding. Riordan is renowned for its excellence in the research and development of innovative plastic designs and products (i.e. plastic bottles, fans, heart valves, medical stents and custom plastic parts). With its state-of-the art design capabilities, Riordan distinguishes itself by striving to achieve and set the standard by which other plastics manufacturing companies are modeled (Apollo Group, Inc., 2004). Capitalizing upon its reputation as a world-class solution provider, Riordan applies Six Sigma principles and ISO 9000 standards to ensure they are supplying their customers with the highest quality solutions possible. Riordan’s goal is to maintain long-term relationships with its customers and make this relationship non-challenging and profitable for all concerned. In addition to Riordan’s customer focus approach to conducting business, Riordan also works hard to provide an innovative and team-oriented work place in which its employees can thrive (Apollo Group, Inc., 2006). Riordan Manufacturing, founded by Dr. Michael Riordan, employs a diverse workforce of 550 employees throughout four worldwide locations which include, Riordan’s Corporate Headquarters located in San Jose, CA whose primary...
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...Riordan Service Request SR-rm-012 Carolyn Powers, Narada Culpepper, Delores Stevens, Mohamed Desouky, Steven Boettcher, Gregory Ganfi BSA 310 Business Systems Due January 25, 2010 University of Phoenix Riordan Manufacturing Systems Service Request SR-M-012 History and Background of Riordan Manufacturing Riordan Manufacturing Inc. began with Dr. Riordan who was a chemistry professor. Dr. Riordan received approval for a few patents that had something to do with processing polymers in to super strong plastic substrates. In 1991 Dr. Riordan started Riordan Plastics, Inc. after he discovered the commercial power and economic benefits of his patents (University of Phoenix, 2004). Riordan took on a direction of paying more attention to research and development. He also made sure he maintained the licenses of those patents he had already obtained. By 1992 Dr. Riordan, through venture capital investments, purchased a fan manufacturing company. The fan company was in Pontiac, MI. in which he also changed the name of the company a second time to Riordan Manufacturing, Inc (University of Phoenix, 2004). By the year 1993 Riordan Manufacturing expanded its operations to another manufacturing plant in Albany, GA. This plant was responsible for producing plastic beverage bottles. The most recent expansion project by Riordan Manufacturing, Inc. was back in the year 2000 when Riordan Manufacturing, Inc. went global. They moved manufacturing operations for the entire...
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...Riordan Manufacturing SR-rm-012 Final Project BSA/310 – Business Systems Company Background Information Owned by a Fortune 1000 enterprise Riordan Manufacturing is one of the leading global plastics manufacturer with a projected annual earnings of $46 million. Since the company’s inception in 1991, Riordan Manufacturing expanded and acquired a manufacturing plant in Pontiac, MI and another manufacturing plant in Albany, GA, its headquarters is house in San Jose, CA. They have also created a joint venture with the People’s Republic of China. This organization focuses on being Six Sigma, exceeding ISO 9000 standards, and continues to maintain an edge in Research & Development along with being the leader in industry trends. Finance and Accounting (F&A) Systems There are approximately 12 components to the F & A Systems: General Ledger, Accounts Payable, Accounts Receivable, Order Entry, Procurement, Sales and Purchasing History, Invoicing and Shipping, Payroll, Financial Reporting, EDI, Bar Code Reading and EDSS (Executive Decision Support System). Not all locations however have all the 12 components mentioned, EDI, Bar Code Reading and EDSS is only available in the San Jose office. In addition, the three entities are not compatible with each other as each three F & A systems has purchased software from three different vendors. The following table will outline a breakdown of current systems within the three United States offices. Vendor License Current Setup Language ...
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...Riordan Manufacturing Service Request SR-RM-022 Riordan Manufacturing Service Request SR-RM-022 Riordan Manufacturing is a Fortune 1000 company and industry leader in producing polymer and plastic material that enables their customers to find solutions to their business challenges. They are a global company that employs 550 people with projected earnings of $46 billion operating in Albany, Georgia, Pontiac Michigan, Hangzhou China, and their headquarters in San Jose, California. With their mission to remain the industry leader in identifying customer trends, Riordan Manufacturing is looking at ways to maximize its operating efficiency within the company by designing and implementing a new system in accordance with System development Life Cycle (SDLC). The Chief Operating Officer (COO) Hugh McCauley sent a memorandum to the Human Resources Integration Product Manager approving a project proposal for Human Resource department. This project will integrate state-of-the-art technology with Human Resource department to support Human Resources functions. A review and system analysis of the Human Resources system is as follows. System Analysis When a company such as Riordan request for the addition of a newly integrated system, a system analysis will aid one to answer some of the most basic questions such as how this new system will work, who would use it, and how the company current system handles the work are some of the important aspects to consider. Integrating...
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...Introduction Riordan Manufacturing, a Fortune 1000 enterprise wholly owned by Riordan Industries, uses its 550 employees to manage plastics products globally. In 1991, Dr. Riordan, a professor in chemistry, started Riordan Plastics to support the commercial applications for his patent. One year later the company was expanded to include a fan manufacturing plant in Pontiac, MI, and the name was changed to Riordan Manufacturing. An additional expansion in 1993 added a plastic beverage container production plant in Albany, GA. Most recently, the fan manufacturing operations moved from Michigan to a new plant in China in 2000. As the industry leader in the use of polymer materials, Riordan’s diverse customer base includes automotive parts manufacturers, appliance manufacturers, aircraft manufactures, the Department of Defense, and beverage makers and bottlers. Executive Summary Riordan has three plants based in Albany, Georgia, Pontiac, Michigan, a joint venture in Hangzhou, China, and a corporate headquarters in San Jose, California. Because each location has its own separate finance and accounting system, Team C finds that it will be feasible and cost-effective to find ways to combine the systems with a seamless compatibility by addressing the accounting department first. The other three areas of Riordan that are integral in sustainability and growth of the company are in need of attention as well. The departments that Team C proposes to improve with the implementation...
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...interacting with users, I would highlight the point that this investigation is not about a problem that Riordan Manufacturing has, but rather the additional capability that the company would like to have. This would help employees to not focus on desirable new features and enhancements rather than on current system limitations. Instead of focusing on difficulties, I would question users about additional capability they would like to have. Using this approach, I hope to highlight ways to improve the user’s job, get a better understanding of operations, and build better, more positive relationships with users. INFORMATION-GATHERING TECHNIQUES A. Analyze Organization charts. This would give me a fair understanding of how the department functions and identify individuals I might want to interview, keeping in mind that organization charts show formal reporting relationships but not the informal alignment of a group, which also is important. B. Conduct Interviews The primary method of obtaining information during the preliminary investigation is the interview. The interviewing process would consist of these seven steps for each interview: 1. Determine the people to interview. 2. Establish objectives for the interview. 3. Develop interview questions. 4. Prepare for the interview. 5. Conduct the interview. 6. Document the interview. 7. Evaluate the interview. C. Document Review...
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...Riordan Manufacturing Final Paper BSA/502 Riordan Manufacturing As an information technology consulting team working for Riordan Manufacturing, Team C will review, assess and make recommendations for improvements to the company’s business infrastructure. These recommendations will include software in the following business areas: human resources, operations, and logistics, legal, and finally, sales, and Marketing. Riordan Manufacturing Inc. like most companies can benefit from process improvements and the implementation of software solutions to improve its human resources, operations and logistics, and legal processes. Human Resources Focus According to Nickels, McHugh, and McHugh (2010), attracting and keeping the best employees is one of the fundamental goals of human resources management. People are the most valuable resource in any organization because their knowledge and creativity translate to products and services that business models depend on. Riordan Manufacturing Inc. faces some challenges with human resources management and is in need of some solutions. Existing Human Resource Management Systems (HRMS) in Riordan manufacturing Inc. * Employee Database * Payroll System * Training and Development System * Recruitment and Selection system * Hiring System * Compensation System * Compliance System * Performance management system Recommended Human Resources Management Systems (HRMS) Oracle HRMS Oracle HRMS is part of Oracle’s...
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...and Oracle Inventory System Management Riordan’s daily operations are inefficient and time consuming. Every stage of the supply chain is observed, tracked, recorded, and updated all visually and manually. The delivery of raw materials to the manufacturing warehouse requires a shipping supervisor to receive shipments from truck drivers with the shipping documents to show what has been ordered. This paperwork is than compared to a scheduled orders receiving report. This report is provided to the receiving are on a weekly basis. Once everything is confirmed by the supervisor, it is then handed to the inventory clerk to enter into the inventory system. The manufacturing of goods follows the same type of process. Raw materials that are used are recorded on an inventory form which is then turned into the inventory clerk at the end of the day. This process doesn’t allow up-to-date information on current warehouse stock levels. Then there is product shipping. Sales orders are taken through fax, phone, and sales employees. Sales orders are then copied and handed to the inventory clerk and entered into the customer shipping and billing system. With each shipping order sent, workers loading trucks then send those shipping documents to the clerk to update the inventory of sub-assemblies and final products in the system. These processes have a lot of physical handling of receiving, processing, and shipping goods. This can be very time consuming to manually track, record, and...
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...Riordan Manufacturing SR-RM-022 June 16, 2014 Riordan Manufacturing SR-RM-022 June 16, 2014 Key Stakeholders Identifying the stakeholders that related to Riordan’s HR system project and determining how each individual’s interaction with the system and the company is essential to defining each member’s role in achieving the project’s objectives. The Stakeholders make up the team that will collaborate and delegate to define the requirements that will make the HR project a success. Riordan Manufacturing has a well-defined strategic direction and end goal that has been defined, providing the stakeholders with a specific goal to work towards. Riordan Manufacturing’s stakeholders for the HR systems project are: the President and CEO, the Chief Operating Officer, the Vice President of Research and Development, the Vice President of Sales and Marketing, the Director of Human Resources, the Vice President of Marketing, the Chief Financial Officer, the employees, and the floor managers. Every stakeholder has a very important role in the company’s strategic plan that will work to develop a successful HR system. Information Gathering Techniques Analyze Organization charts - This will provide an understanding of how the department functions and identify individuals that could provide insight into their daily task and system requirements. Conduct Interviews - The primary method of obtaining information during the preliminary investigation is the interview. The interviewing...
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