Information technology affects on Riordan Manufacturing
Overall Effects of IT on Riordan Manufacturing
Information technology affects on Riordan Manufacturing
Overall Effects of IT on Riordan Manufacturing
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.
By examining the riordan system many gaps was found and Many of improvements that can take place to the current systems and subsystem to provide increase in the benefits and skills and production line.
Taking a look at the current system for the finance and accounting riordan stated that each location has its own F and A system which report back to San Jose. The F and A Department have been unable to achieve anything remotely resembling “seamless compatibility.” Some F and A data is provided to corporate via data files; some data is provided via hardcopy reports and must be re-entered; some data is provided via data files but must be converted (redirected) to the proper account codes and the list goes on. Riordan will need to implement a new system to communicate effectively and remotely sharing of the files and reports. That will help riordan to have an updated in real-time reports instead of just waiting for the hardcopy.
By looking at riordan sales and marketing department, I noticed that riordan need many improvements to increase sales. As the world growing fast, customers expect high level of service and products that meet with today’s technology. Using the last IT technologies in marketing and sales would increase sales and profit for Riordan. Implementing new technology in marketing and advertisement is a must nowadays to attract the customers.
WMC’s accounting practices incorrectly attribute fixed manufacturing costs to the three Detroit groups in a proportional manner, leading to Group 3’s lack of profitability. Discontinuation of Group 3 pushes a greater percentage of the fixed costs to the other groups impacting their ability to be profitable. Additionally, WMC does not consider the degree to which production at the Detroit plant contributes to the operations and profitability of the other plants. Presently, each plant is accounted for individually. WMC should reevaluate and consider the...
A strategic plan will maximize Riordan’s resources to achieve its business objectives and maximize its value. For Riordan to have a successful strategic plan it is best for the company to perform a SWOT analysis. The first step is to identify Riordan’s strengths. Riordan Manufacturing has three operating entities located in Georgia, Michigan and California, plus a joint venture in the People's Republic of China. This allows for them to expand their reach into new markets in both domestic and foreign markets. Riordan has secured fifteen major customers, twelve minor customers, and a government contract for fans. Riordan Manufacturing has weaknesses within the company. It needs to consolidate customer information within all of its locations in order to deliver better value to the customer. Riordan needs to consolidate the close of the general ledger and the income statement and balance sheet in a more efficient and timely manner than is currently being conducted. Riordan has weaknesses in finding an inexpensive and labor friendly way in which to conduct audits. Riordan manufacturing has great potential for opportunity and growth. Riordan can reduce operating expenses, which will lead t...
The current architecture of the Riordan Manufacturing Company Inc. Wide Area Network (WAN) and network security in place requires updated documentation. The purpose of this paper is to consolidate the existing information into a single format and evaluate the WAN and security documentation for an executive overview. Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With state-of-the art design capabilities, they create innovative plastic designs that have earned international acclaim. Attention to detail, extreme precision and enthusiastic quality controls are the hallmarks of Riordan Manufacturing. With facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou, China, the company is heavily dependent upon their communication networks. The documentation produced by this analysis will give the management at Riordan Manufacturing an understanding of their current network topology and a baseline to evaluate security of the network.
Advertisement over the years have been very relentless with a few inventories for its expansion. It can be a very persuasive tool towards getting a result. GM uses a tradigital marketing strategy type of advertising which combines both the traditional way of advertising and the new age way of advertising which is computer based also known as digital. However, there’s always room for improvement. According to John Wanamaker, he stated that “I know that half of my advertising dollars are wasted…I just don’t know which half” (Rosenblum, 2011). It is known for years as an accepted truth that 50% of every advertisement dollar is wasted. Is it because we are doing too much or too little to convince our potential buyers? This is a questionable factor that need answers. I recommend changing the key performance indicators from a marketing to a business focus, create a superior experience that at the end of the day simplify consumer’s lives and create an educational platform.
The first stage of the implementation process is the coding phase. Before this process begins, it’s crucial that all of the key features are taken into consideration by the stakeholders to assure appropriate functionality of the new system for Riordan. Each module developed for the new system directly impacts the functionality for the
The production facilities of the company and its human resources are one of its major core competencies leading to low cost high quality products and helping the company have highest margins within the industry. The company should look at technology to diversify its production in order to decrease reliance on scrap steel.
Technology and technological changes may pose many challenges to marketers. The technology can significantly affect the type of product or service that marketing professionals can offer to their customers. For example: The advancements in technology have significantly changed traditional products like typewriting machines, into more convenient computer systems. It means that one cannot stop the advancements in technology. But, one can learn to adapt to the ongoing changes in technology and systems. So that one can make use of advancements for the betterment of a product, idea or
The report is based on the roles of technology in developing marketing strategies for Robi. This report is broadly categorized in six different parts. At First there is prefatory where describe the telecommunication sector in Bangladesh along with introduction, objective, scope, limitation and methodology. The main objectives of the report are analyzing the roles of technology in developing marketing strategies for Robi.
Manufacturing excellence has been the strength of DJC, driven by continuous process improvement and careful attention to customer needs. Their cellular manufacturing approach by breaking the factory into small, homogeneous and cohesive productive units makes production and quality control easier. Continuous plant operation and good plant layout ensured maximum asset utilization and low work-in-process inventories and relatively higher finished goods inventory.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
This can’t be said enough. The systems your business uses need to be connected and able to exchange information back and forth through an automated process.
Today there are no limitations to what technology can do to change the way we do Business. From online malls like(http://www.mall.com) to sites likeE-Bay technology has changed the way we do business. What we can conceive we can achieve. What is coming up next might impact our ways of doing business but the major impact, the major changes have began and what will lead now will be enhancing those changes. We have discussed many ways that technology has impacted our businesses.
Although it was not always easy for Toyota, they have established themselves as one of the major automobile manufactures in the world. Since Toyota’s sales have steadily increased over the years; they recently have begun focusing on the quality of the car they were producing. Unfortunately when they began the process multiple issues within the product and assembly arose bringing a negative impact to the manufacture. Toyota began to develop what we call the Lean philosophy, “form of religion”. Lean methodology is a process to increase productivity of workers, assembly lines, inventory, and management among many others, all the while keeping a close eye on the production. When they first opened their factories within the United States they pushed
Toyota motor is the world’s leading automaker. In factories around the world, Toyota consistently makes the highest quality cars with fewest defects of any competing manufacturer, while using fewer hours, less on hand inventory, and half the floor space of its competitors. Toyota’s worldwide reputation for quality and reliability (Connor, 2010). Complete with profiles their motors for quality for customers so that it is manufacturing techniques were followed by its competitors in the world. At Toyota quality was in built in to each manufacturing process and employees from all divisions ensured that defective items did not pass on the next process.
Nowadays with the implementation of new emerging technologies, the way businesses keep this financial information has become computerised. At the moment businesses use computers with a computerised accounting system in order to perform many other new activities than what they were able to do in the past. Businesses can access financial information from different department in the organisation, access to the information through computers and find financial data very fast, being more efficient. (Beliss, 2013)