...Strategic Plan Paper Strategic Plan Paper Riordan Manufacturing recognizes the fact that they are an industry leader in plastic injection molding and supplier of plastic medical devices. Riordan also recognizes that they are not progressing in the industry as they would like. Recognizing the need to create better value products which will increase sales is the first step in this plan for sustainability. Riordan needs to obtain new customers. In order to do this, they must predict customer needs, become familiar with global changes, create better relationships, and secure sustainability. Gaining a competitive edge by utilizing newer technology will help reduce costs. After a closer look at the structure of Riordan, it is believed that several shortfalls exist between the relationship of goals and reality. Riordan is urged to consider the following strategic plan which outlines structure, plan goals, implementation, and evaluation. Riordan Manufacturing is a state-of-the-art plastic industrial company that specializes in plastic injection molding and innovative designs of plastic products and packaging. Because of their progressive thinking and innovative products, Riordan’s has now established a reputation as one of the world’s leading plastic manufacturers as this global enterprise now employs over 500 employees worldwide (University of Phoenix, 2012). In 2000, Riordan’s manufacturing undertook major expansion efforts and because of those efforts, you can now find Riordan’s...
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...Riordan’s Strategic Plan Team C: MGT/498 May 29, 2014 Riordan’s Strategic Plan Riordan Manufacturing is a Fortune 1000 company that that leads the world in the manufacturing of plastics and plastic injection molding. With more then a billion dollars in revenue, Riordan has decided to shore up their global business by developing a strategic plan that will take the company into the next five years. With global and domestic operations based in Michigan, California, Georgia, and China, Riordan has reviewed their business structure and revealed areas, which require the optimization of operational efficiency throughout company. Along with other companies, Riordan manufacturing shares competitive advantages in several avenues of manufacturing and business. Riordan’s focus on direct selling gives them a competitive advantage, as does their commitment to their employees, customers, and shareholders. Riordan’s commitment to the community is to provide low cost products, while at the same time sustain revenue and profitability growth. Riordan’s strong brand recognition in their industry gives them an advantage just as Apple, DuPont, GMC, and Nike have in their markets. Riordan’s strong engineering and R&D departments are known for their quality. Strategic Plan Over the years Riordan has expanded business operations from development, to large-scale manufacturing and finally to producing state of the art plastic injectors. Riordan expanded...
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...Introduction The paper provides an overview of the Riordan Manufacturing Company and explains the purpose of the Corporate Compliance Plan. Next, the paper emphasizes four main issues which are Enterprise and Product Liability, Real and Intellectual Property, Governance and International Law related to Riordan's situation. The paper concludes with the Riordan's future legal responsibilities that can affect workforce productivity, customer relationships and customer relationships. 1. Organization Overview Owned by Riordan Industries, Riordan Manufacturing is an international plastic manufacturing company specializes in manufacturing plastic parts for the beverage manufacturing industry, automotive industry, and fan manufacturers with its headquarters lodged in California. After its foundation by Dr. Riordan in 1991, Riordan Company has tried to expand its capability in terms of production of plastics and beverages containers. The company has increased its level of productivity and opened a number of new manufacturing branches in Albany, Michigan, Pontiac, and China, Hangzhou. Riordan's product line includes plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the newest facilities in Hang Zhou, China. Riordan's major clients are automotive parts and aircraft manufacturers, the Department of Defense, beverage makers and bottlers and appliance manufacturers...
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...RUNNING HEAD: Riordan Corporate Compliance Plan Gregory L. Flanders Business LAW 531 Professor Linda Fried 17 July 2011 Corporate Compliance Plan Date: July 18, 2011 Subject: Riordan Corporate Compliance Plan To: Riordan Executive Officers and Directors I. Introduction Riordan Manufacturing was founded in 1991 with patent awards from processing polymers into strong plastic substrates. Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The products include plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the 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, beverage makers and bottlers, and appliance manufacturers (University of Phoenix, 2003). II. Corporate Compliance Overview Senior leadership for Riordan Manufacturing, Inc. created a corporate compliance plan tailored to the corporation’s specific areas of plastic research and development, design, and manufacturing business. Riordan’s policies set forth in this document applies equally and legitimately to each employee without any regard to...
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...Corporate Compliance Plan for Riordan Manufacturing University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address...
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...Riordan Corporate Compliance Plan LAW/531 3/4/2012 Marlene Wilhite Table of Contents I. Internal Environment II. Mission Statement/Objective Setting III. Code of Business Conduct a. Legal obligations and compliance b. Enterprise liability c. Real and Intellectual Property IV. Board Member Code of Ethics a. Selection of Board b. Board Leadership c. Composition and Performance d. Board Meeting Etiquette and Proceedings V. Control Activities a. Governance principles of regulatory compliance b. International Laws c. Steps to adhere to international laws VI. Legal Counsel VII. Reporting Violations Internal Environment As an industry leader in global plastics manufacturing Riordan must remain on the forefront of internal controls and corporate compliance. This plan has been assembled to form a strategic corporate compliance plan for the board of directors. The Committee of Sponsoring Organizations defines Enterprise Risk Management as the following: “Enterprise risk management is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite...
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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 Corporate Compliance Plan Law 531 Riordan Corporate Compliance Plan Riordan Manufacturing, as a global plastics manufacturing company, has become a pioneer in its industry and has an employment base of approximately 550 people and has an annual earnings projected around $46 million. The company possesses a plant in Albany, Georgia that produces containers for beverage companies, a plant for manufacturing custom plastics in Pontiac, Michigan, and its Hangzhou, China plant develops plastic parts for fans. Riordan’s research and development group holds the title as the industry leader in identifying industry trends in research and development. Research and development activities are performed at Riordan’s corporate headquarters in San Jose, California. Beverage companies, automotive, aircraft, and appliance parts manufacturers and the Department of Defense are clients who can be found at the top of Riordan’s list of customers (University of Phoenix, 2012). Current Situation Riordan Manufacturing has recently suffered some strategic changes in the production and marketing areas. There are times when these types of changes begin to affect employee retention numbers. In order to make a business prosper, the company must take care of their employees. These leaders are concerned that employees might have private information and share it with commercial competitors. The other issue is that management is troubled that employees may leave because...
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...Trisha Sadler, Darryl Warren, Josephine Ives, Rebecca Smith, Beth Sexton MGT/498 May 19, 2014 Rolando Espiritu Competitive Advantages Competitive Advantages - Riordan Riordan is a plastic manufacturing company, which was started in 1991 (University of Phoenix [UOP], 2013). The company has locations in California, Michigan, Georgia, and China. The company’s business units are plastic parts manufacturing, plastic beverage containers, and the plastic fan facility. Riordan’s customers consist of beverage makers, medical supply firms, electronic supply firms, and pharmaceutical companies (UOP, 2013). A competitive advantage allows companies to increase sales, resources, and market share. Team B’s analysis will provide insight on Riordan’s competitive advantages by identifying competitive strategies, competitive sustainability, and the effect of the global market changes to the company’s business strategy. Riordan’s Competitive Advantages Every organization must establish some type of competitive advantage. The recent research of FedEx, Southwest, and McCain Foods’ competitive advantages assists in identifying Riordan’s competitive advantage. The first step in competitive advantage is creating a mission statement and developing a strategic plan. Firms that operate with a strategic plan develop focus and alignment. Introducing unique products or services leads to the establishment of a competitive advantage. In the case of FedEx, the core service is transporting products...
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...Riordan Manufacturing Supply Chain Evaluation ISCOM/476 Riordan Supply Chain Evaluation The management team at Riordan has completed a high-level strategic business initiative to improve its supply chain as a competitive advantage to ensure customer satisfaction. After extensive market and financial analysis a decision to create a new line of plastic perfume bottles has been proposed. The following executive summary outlines the business model implementation plan needed to introduce the new product line. Customer Value Supply Chain Management is about the delivery of a product to a customer in a timely manner regardless of its location of the globe. Providing the right component, the correct quantity ordered, and at the right price is what customers value the most. To enhance customer value and satisfaction a customer relationship integration team should exist and bring together each facility, its services, and its employees into the CRM process. Integrating the available information of an organization allows employees to have immediate access that may be crucial to a customer’s delivery. Customers value the open visibility of their supplier to track any material that has been shipped. Strategic Goals, Core Competencies, and Competitive Advantage Riordan’s strategic goals and objectives are to leverage its successful supply chain to integrate easily the production and distribution of the new bottle line. Riordan has the relevant experience and the...
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...Supply Chain Design Paper Operations of Management/OPS-571 Andres Carrillo September 14, 2015 Introduction Riordan Manufacturing is a global plastics manufacturer of beverage containers, parts, and fan parts. The organization provides products for automotive parts manufacturers, aircraft manufacturers, the Department of Defense, and appliance manufacturers. The company was initially founded as Riordan Plastics, Inc. in 1991. Riordan’s focus was on research and development and licensing of its existing patents. The organization purchased a fan manufacturing plant in 1992. Currently, the company operates a plastic beverage containers’ plant in Georgia, and the plastic fan parts are produced in China. Riordan maintains revenue of $1 billion. The team will focus on all manufacturing aspects of the electric fans in China. The team will also discuss Riordan’s strategies, process flow, supply chain efficiency, lean production, etc. Manufacturing Strategy Riordan uses the level manufacturing strategy for production planning. This strategy is evidence that Riordan continuously manufactures its goods equal to the average demand for the goods. The scheduling is set for the same quantity as the production based on the total demand for the goods. The benefits of using the level strategy are “to maintain a stable workforce working at a constant output rate. Shortages and surpluses are absorbed by fluctuating inventory levels, order backlogs, and lost sales. Employees benefit from...
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...Request SR-rm-022, Part 1 BSA/375 Service Request SR-rm-022, Part 1 Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. All though Riordan Manufacturing Industries is a Fortune 1000 enterprise and a global manufacturer of plastic they currently do not have an integrated system that brings all the sites together as one.Currently, there are three sites that they manufacture from in Hangzhou China, Pontiac, Michigan, and Albany, Georgia. Riordan’s headquarters are located in San Jose, California, here the research needed to maintain Riordan’s success is done. Riordan Manufacturing, like any company, would not be able to experience any success without their loyal customers and the company’s steak holders. The key stakeholders within the Riordan Manufacturing Company that I would gather requirements from first would be would be management. After the management I would gather information from the employees. No one knows a company better then its staff. I would hold a meeting with the entire staff to decipher what the company’s current business challenges and future requirements this will as help me identify the company’s current and future business process flow. Once this is done key requirements which were gathered during the focus group will be consolidated into what will be foundation of the new system Riordan Manufacturing Company. The analysis tool I would propose for this project would be SDLC (Software...
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...MORE. • Select the Download (English) the free executive summary link. Research additional information in the Guidance and Resources sections at the COSO website. View the Riordan virtual organization. Create a corporate compliance plan consisting of no more than 2,450 words for Riordan. Focus your plan on managing the legal liability of officers and directors of Riordan. The plan must also address how to handle situations when laws are violated or in question (such as when to call in legal counsel, what rights the employees have, or who to turn to when actions are taken against Riordan). Your plan must also include the following: • Enterprise liability • Real and intellectual property • Governance principles of regulatory compliance requirements • The specific international laws or aspects of the law that must be adhered to by Riordan and an outline of these steps for employees to adhere to these laws Format your Corporate Compliance Plan as if you were going to distribute this to the officers and directors of Riordan. Outline the prevention and management guidelines of the legal aspects listed above. Implement enterprise risk management based on the COSO’s 8 interrelated components. COSO can be used to structure your plan. Be sure to incorporate key concepts from your readings where appropriate. You need to research requirements...
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...Riordan Strategic Plan MGT/498 University of Phoenix Dr. Sam Espiritu, DBA Riordan Strategic Plan Strategic Plan Riordan Manufacturing Inc. is a corporation that makes plastic custom fitted products for the government aircrafts, automobile industries and currently expanding into the medical fields its need to develop and execute a strategic plan to ensure long term performance and stability in the plastics manufacturing market. Riordan is a successful company and as of 2000 has expanded into the global market. Research reveals that organizations that engage in strategic management generally outperform those that do not (Wheelen & Hunger, 2010). We want to be sure that we continue to stay competitive, lead our business into the future, and outperform our competition by following this strategic plan. The road to a solid strategic plan starts with a foundation in the strategic management process. Step one of this process is environmental scanning. This will include both external and internal scanning; this scanning includes monitoring, evaluating and understanding the information and distributing to management within the company. The simplest way to conduct environmental scanning is the SWOT analysis (Wheelen & Hunger, 2010), this will be covered later in more detail however to information gathered from both SWOT and environmental scanning processes will provide the necessary tools needed to create monitor, evaluate and disseminate information throughout...
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