Riordan Manufacturing Case
analytical Essay
2156 words
Executive Summary
Riordan Manufacturing “is a plastics manufacturer employing 550 people with projected annual earnings of $46 million.” (Riordan, 2004) The company headquarters is located in San Jose, California and production sites within Pontiac, Michigan and Albany, Georgia. The Michigan location is responsible for the injection molding process, creating of dies, custom fabrication, design and coloring of plastics. The Georgia site creates unique plastic bottles as specified by the customer.
Riordan expanded their production and design of electric fans to an overseas operation plant that partnered with Hangzhou, China. Plastic polymers are purchased locally and melted/injected into molds that creates the individual plastic parts.
The company’s customers consist of appliance, automotive parts and aircraft manufacturers along with beverage makers, healthcare services and the Department of Defense. Customer demands increased the demand for a larger production of plastics and as a recognized Fortune 1000 enterprise; Riordan requires to stay competitive in a constantly changing business by use of the latest technology.
The current supply chain process in place is not efficient to the Riordan Manufacturing Company. The main problem is no communication between departments, factories, and suppliers, which is causing abundance of wasted man hours and over production of products. The goal is to provide communication between departments, factories, and suppliers; thus creating an efficient and effective way of meeting customer expectations and reduce product waste.
Recommendations based on analysis require updating the supply chain management, creation of local area network, wide area network and connection of an extranet system that would communicate between departments and suppliers. The network would have department specific login and information based on the functionality of the site. Improving the communication is a way suppliers could see specific requirements based on sales. Sales department would have instant knowledge of the amount of merchandise available to the customers and an instant inventory system showing completion of products stored in the warehouse.
Selection and set-up of the network is necessary to the success of this project. A Client/Server network is needed to implement through a TCP/IP protocol. Each site functions as a local area network linked together as a wide area network. Users having access to the system can exchange information instantly.
Current inventory and manufacturing process would improve by updating the current supply chain system. Supply chain management “is the control of the supply process from the supplier, manufacturer, inventory, sales and customer. Supply chain management oversees the movement and storage of raw materials, work-in-process inventory, and finished inventory.
In this essay, the author
- Explains that riordan manufacturing is on the cutting edge of dynamic plastic injection molding and needs to create an effective and efficient computer system utilization that will expedite the processes between each department and employee.
- Analyzes how riordan manufacturing's problems stem from poor planning, lack of global schematics, and limiting the usability of a global network.
- Argues that riordan manufacturing's current inventory control system has too much room for human error as most of the data entry at the beginning is done manually.
- Explains that riordan manufacturing is on the cutting edge of dynamic plastic injection molding and needs to create an effective and efficient computer system utilization that will expedite the processes between each department and employee.
- Analyzes how riordan manufacturing's problems stem from poor planning, lack of global schematics, and limiting the usability of a global network.
- Argues that riordan manufacturing's current inventory control system has too much room for human error as most of the data entry at the beginning is done manually.
- Opines that riordan needs to look into a supply chain management business application that will make their process efficient and up to date.
- Explains that a buyer generates an order for this material and assigns the part number.
- Explains that once the product is shipped, a "post goods issue" is performed to relieve the inventory from stock and account receivables can bill the customer.
- Explains the logical components for maintaining a successful web presence (excluding hardware and web applications).
- Explains that the above can be used to ensure the website stays safe for both the company and customers using it.
- Explains that the cost of implementing the improvement would be recuperated from the reduction of receiving hours, raw material inventory, over production and shipping requirements.
- Describes riordan manufacturing as a plastics manufacturer employing 550 people with projected annual earnings of $46 million.
- Explains that the raw materials area clerk will verify the material and quantity match the purchase order and verify goods received and payment can be made to the vendor.
- Explains that communication needs to be improved between sites and an extranet connection for customers to access the company.
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- Describes riordan manufacturing, a fortune 1000 enterprise that specializes in the field of plastic injection molding.
- Explains that riordan has identified criteria in four areas that define the company’s mission statement. the company focus is to have attitudes and abilities that exceed industry standards and lead the industry in research and development.
- Explains that management must stay ahead of the curve in technology for r&d and customer relationships. existing business systems and hardware need to be the same or compatible between each division in order to operate efficiently.
- Opines that a static internet site needs to be dynamic and allow interaction between visitors, incumbents, and potential clients.
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In this essay, the author
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- Explains that supply chain management (scm), pioneered by wal-mart, has grown in the last few years to include not only the physical aspects of scm, but also the electronic components, such as the internet.
- Explains that supply chain management means assembly lines, warehouses, truckers, and time sheets. manufacturers had the luxury of taking years to develop, market and sell their products.
- Explains that supply chain management is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service.
- Explains that effective supply chain management can impact virtually all business processes, leading to continuous improvements in areas such as data accuracy, reductions in operational complexity, supplier selection, purchasing, warehousing, and distribution.
- Explains improved delivery performance—quicker customer response and fulfillment rates—reduced inventory throughout the chain—improved forecasting precision—shorter suppliers and shorter planning cycles—proven quality and products that are more technologically advanced.
- Explains how information and communications technologies are revolutionizing the scope and scale of e-supply chain infrastructures. online data exchange is transforming business practices, allowing managers to capture and track complex data more effectively.
- Opines that intelligent application of information technology can eliminate duplicative data entry, provide real-time status information, and help organizations move past narrow-minded views of their processes to view themselves within the context of larger missions and goals.
- Explains that with the emergence of the internet, customers seek out specific products at the prices they're willing to pay. manufacturers need to precisely gauge what a customer might want, how to package it and where to ship it.
- Explains that the internet supply chain will be a means of communicating and doing business with suppliers and customers. enabled supply chains assist companies to optimize business processes both within and outside the four walls of the enterprise.
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- Explains the importance of computers in everyday life, stating that they are a powerful tool to possess, but also costly to implement.
- Cites mcgraw-hill, irwin, management information systems, sixth edition o’brien isbn: 0-07-282311-9, 2004.
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In this essay, the author
- Explains that the company is involved in an intensive distribution through big chains of building supply retail outlets. they had to produce and sell at a high volume to the us by exporting.
- Explains that the company had problems with financing the new plant in the beginning, but with the established building supply retailer contracts and their high volume of exports, they got back on track and reached a breakeven on cash basis recently.
- Explains that the future strategy is to serve a special niche in the us market by selling higher priced doors through regional distributors, who then sell the doors to the customers.
- Explains that the company is involved in an intensive distribution through big chains of building supply retail outlets. they had to produce and sell at a high volume to the us by exporting.
- Explains that the company had problems with financing the new plant in the beginning, but with the established building supply retailer contracts and their high volume of exports, they got back on track and reached a breakeven on cash basis recently.
- Explains that the future strategy is to serve a special niche in the us market by selling higher priced doors through regional distributors, who then sell the doors to the customers.
- Explains the company's low price strategy and the big chain distribution, which makes it easy to get economies of scale in a short time.
- Explains that portico wants to target a different customer group that is more concerned with quality wooden doors. they are frustrated with the ongoing competition on price in their segment.
- Argues that the new strategy is desirable considering only the economic factors. the low currency value of the colon and the low labor costs in costa rica would benefit the company.
- Opines that portico's new strategy isn't a good thing since the company has just recently broken even, which means they have to produce doors in high volume.
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- Explains the unique feature of dell's supply chain is build-to-order strategy, which enables the customer to place an order, all the configurations details are sent to the manufacturer.
- Explains that four rounds are played in the game using different systems such as pull system and push system.
- Compares dell's supply chain process with its competitors' direct model, which supplies pcs to direct customers without the support of retail channels.
- Explains the unique feature of dell's supply chain is build-to-order strategy, which enables the customer to place an order, all the configurations details are sent to the manufacturer.
- Explains that four rounds are played in the game using different systems such as pull system and push system.
- Explains that teams are sorted and start working very fast. since the customer demand will be drawn at the end of the round, this system ends with overproduction and waiting.
- Explains that in this system the teams build only what is consumed and when it's consumed. the risk of obsolescence or expiration is minimized.
- Explains that simultaneous work construction in work cells improves speed, time, cost, quality by improving process flow and eliminating waste.
- Describes how teams were given 10 minutes to discuss and understand the concept of building the houses, and then they were allowed to organize themselves which they think more efficient.
- Explains that the simulation game was fast and challenging, which resulted in stress management, team building, and managerial techniques in work places.
- Explains that supply chain management is an integrated approach to planning, implementing and controlling the flow of information, materials, and services from the raw materials and suppliers for the manufacture of the finished or finished product.
- Explains that supply chain management is seen as a digitally enabled inter-firm process capability. technology evolved into supply chains with electronic invoicing, computerized shipping, tracking and automated notifications.
- Explains that the purpose of the simulation is to learn the experience of running and dealing with the issues of lean production lines and how information technology can be applied.
- Opines that they enjoyed the simulation game, especially the final round and third round work cell. round one and two had wastes such as overproduction, waiting, transportation, and inventory.
- Opines that the final round was a levelled process where it has already been discussed by the team. every individual’s skills are used in this round.
819 wordsRead More - Riordan Manufacturing is one of the global leaders in the field of plastic injection molding owned by Riordan Industries. The company employing 550 people with projected annual earnings of $46 million. The corporate headquarters and research and development are located in San Jose, CA. The various manufacturing plants are located in Albany, GA, Pontiac, MI and Hangzhou, China. The company customers include some of the top automotive manufactures, airplane manufactures. From the company financial statement shows that the company in a good position on the market but the profits needs to be increased. The profit margin is lower than the industry average for Riordan .This means that Riordan have to keep its costs low and maximize profits to meet with than other companies doing the same business. The company current asset to liability ratio (current ratio) is approximately 2.87, which means that the company has twice current assets to the current liabilities.
In this essay, the author
- Explains that riordan manufacturing employs 550 people with projected annual earnings of $46 million. the company's profit margin is lower than the industry average.
- Explains that by examining the riordan system many gaps were found and many improvements that can take place to the current systems and subsystem to provide increase in the benefits and skills.
- Opines that riordan will need to implement a new system to communicate effectively and remotely sharing of the files and reports.
- Explains that riordan manufacturing employs 550 people with projected annual earnings of $46 million. the company's profit margin is lower than the industry average.
- Explains that by examining the riordan system many gaps were found and many improvements that can take place to the current systems and subsystem to provide increase in the benefits and skills.
- Opines that riordan will need to implement a new system to communicate effectively and remotely sharing of the files and reports.
- Opines that riordan needs many improvements to increase sales and profit. implementing new technology in marketing and advertisement is a must nowadays to attract customers.
- Explains that riordan has two-year plans to reach the $50 million revenue mark through 3 strategies: 1) strategic sales objectives with corresponding financial goals and roll-out schedules; 2) marketing mix, timing, and relationship to strategic sales goals; 3) customer relationship management strategies.
- Opines that customer service is what will keep the current customer as customer not a former customer. focusing and researching on the market needs and changes is critical to fulfill current customers’ needs.
- Explains that the riordan human resources hris system was installed in 1992. upgrading to newer systems that provide a network real-time access operation will definitely help the hr affectively.
- Recommends updating the machineries systems at riordan manufacturers to save and improve the production.
- Recommends that riordan get a leg counsel to each branch that can approve any legal issues without having to wait from the approval to come back from overseas.
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- Explains that supply chain is a network of business bodies where it engages from manufacturing products and services to delivering products to the final consumer.
- Explains that e-business is growing rapidly and this is causing major challenges to supply chain management in both public and private sector.
- Explains how supply chains are merging with e-business, and how this has created immense opportunities to the supply chain management.
- Explains that supply chain is a network of business bodies where it engages from manufacturing products and services to delivering products to the final consumer.
- Explains that e-business is growing rapidly and this is causing major challenges to supply chain management in both public and private sector.
- Explains how supply chains are merging with e-business, and how this has created immense opportunities to the supply chain management.
- Explains that information integration in supply chain means that members can share information to improve their performance.
- Explains that planning synchronization means that the members will make joint decisions regarding plans for introducing the product in the market, and plans regarding when the stock should be replenished.
- Explains that workflow coordination online means that all the activities between the supply chain members will be automated.
- Explains that taking the supply chain online via e-business leads not only to improved efficiency but much more improvements. e business has allowed many companies to conduct business in a completely different way.
- Explains the benefits of e-supply chain management in a business. e-scm covers everything from the raw material stage to the end user stage.
- Explains that the transportation of goods from the plant to the outlets eats up 15 to 45% of the price of a product. by installing an e-scm, the company can lower the warehousing costs and transport costs.
- Explains how information system-supported upstream supply chain management can be utilized to support procurement in e business.
- Explains the importance of outbound logistics in offering sales services through websites, but the main challenge is to deliver the services efficiently as mentioned on the website.
- Describes van gend & loos' exclusive service of tracking and tracing their order with a consignment number over the internet. it allows the senders to track the information of all the deliveries based on the dates and delivery destinations without any special number.
- Explains radio-frequency identification microchips, which are attached to products in retail outlets or warehouses and can be scanned by appropriate scanning technology. the only disadvantage of rfid is that it increases cost.
- Explains that is-supported downstream supply chain management comprises of fulfilment and outbound logistics.
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- Explains that information systems are important for providing information related to supply chain to different parties involved in a transaction of any enterprise.
- Explains the need for a supply chain database with personalized view for different parties to render the information service conveniently.
- Explains how retail argos uses supply chain management to enhance its multichannel sales. it launched its transaction website in 2000 when inventors brought up a reservation service.
- Explains that argos' multichannel retail strategy is unique in the uk market and eases out the implementation of check and reserve service.
- Explains that argos benefits from increased sales and widening their stock levels by providing extended ranges of products to shoppers online.
- Explains that argos launched its iphone application in 2010 due to a response of 600 percent traffic on its website as people were operating the website using iphones and ipods.
- Explains that the iphone app allows the customer to set up their home store for a smoother reservation system. the option store checker functions just like the machines in the argos stores.
- Explains how argos maintains catalogues on the website and the store to encourage sales from both. they offer over 11,000 products which are not available or displayed in the catalogue.
- Explains that e-business has helped create new models and concepts in supply chain and made it possible to put it into practice in a much effective way.
- Opines that the internet has helped expand supply chain management and increased opportunities for companies to buy online and open their own internet channels.
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In this essay, the author
- Explains abc analysis is a useful method for defining inventory value. it categorizes inventory items into three groups according to their total annual dollar usage.
- Explains that "a" items account for a large dollar value, but are relatively small percentages of total items.
- Explains that "c" items account for a small dollar value, but large percentage of total items.
- Explains abc analysis is a useful method for defining inventory value. it categorizes inventory items into three groups according to their total annual dollar usage.
- Explains that "a" items account for a large dollar value, but are relatively small percentages of total items.
- Explains that "c" items account for a small dollar value, but large percentage of total items.
- Explains abc analysis provides useful information to the manager in order to identify the best methods to control each and every category of inventory.
- Explains the single-period inventory model, which is used to identify the amount of inventory to purchase given a delicate good or single opportunity.
- Explains that there are two types of multi-period inventory systems: fixed–order quantity models (q model) and fixed-time period (p-model).
- Explains that the fixed order quantity, also known as economic order quality, helps a continuous monitoring and ordering of replacement stock.
- Explains that demand is spread evenly throughout the year so that the demand rate is reasonably constant.
- Explains that a fixed-time period system is required in situations where vendors make regular visits to customers and take orders for their entire line of products.
- Explains that inventory management has developed as an important fact in organizational efforts to reduce losses. the management of capital within an organization has a significant impact towards profits.
- Explains that inventories are held for a variety of reasons, such as customer demand for end items, smoothing production, hedge against stock outs and price increases, and economical purchasing.
- Explains the costs that must be considered when making a decision. holding costs include storage facilities, handling, breakage, insurance, pilferage and undesirability, depreciation, taxes, and opportunity costs.
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