Competitive Strategies for Riordan Riordan Manufacturing and its parent company Riordan industries are both performing strongly and though there are some definite flaws apparent in human resources management at Rordan Manufacturing the company is still poised to take advantage of many different competitive strategies depending on a larger environmental assessment. Internally, a very health profit margin and growing sales numbers are generating substantial returns for the company, and the current ratio as well as the total asset to liabilities ratio are enormously high. This in and of itself suggests some possible strategic moves for the company in the coming months and years. The new technologies that are being adopted and the new equipment purchases that are estimated to generate long-term savings and performance improvements also demonstrate part of the strategic course that Riordan might already be taking in order to position itself as a more competitive player in the market. First, the high current and total ratios suggest that the company is very under-leveraged. This in and of itself could be a strategic position, but given the strong and growing sales record at the company and the enormity of the asset/liability divide, much better returns could be generated if the company could identify any growth opportunities in the market place. Taking on debt to fuel growth would be an aggressive but likely a highly effective strategy for the company at the current time,
Riordan Manufacturing discovered some problems with their employees; such as an inability to motivate employees and how to reduce the high turnover rate within the company. This was discovered through the Riordan human resources department structure which does not allow employee empowerment and as a result is delaying potential growth due to the unbalanced profits, and reduction in sales.
Riordan Manufacturing is a privately held company with plant operations in Albany, Georgia; Pontiac, Michigan; Hangzhou, China. The Corporate Headquarters are located in San Jose, California. Riordan Manufacturing is a subsidiary of Riordan Industries. The Chief Operating Officer (COO) is Hugh McCauley and the Chief Financial Officer (CFO) is Dale Edgel. The Company employs a work force of 550 people throughout the four locations.
Riordan Manufacturing, Inc. states on their webpage “Six Sigma, leading edge R&D and exceeding ISO 9000 standards define the attitude and abilities of Riordan Manufacturing” (Riordan Manufacturing Inc., n.d., p. 2). Riordan Manufacturing, Inc. has most likely decided to use the cost leadership and product innovation business strategies because these strategies allow Riordan Manufacturing, Inc. to compete with their competitors on two levels. Currently Riordan Manufacturing, Inc. is operating in Hangzhou China and is partnered with Chinese affiliates that own manufacturing facilities on the Qiantang River. The cost reduction in shipping and manufacturing permits the cost leadership business strategy; underpricing competitors in foreign and domestic markets. This brands the organization as the market maker for pricing in plastics manufacturing. Riordan Manufacturing, Inc. also states on their webpage “Our R&D is, and
The slow consolidation of the operational processes of the different divisions with different non-compatible operation software has become a financial threat to Riordan Manufacturing. The current situation of the financial and accounting systems between the different divisions has required
Riordan manufacturing is a plastic injection molding company based in San Jose. The company also has various operations in 3 other Michigan cities as well as one overseas office in China. “Riordan has a 46 million annual earning” and their major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers, bottlers, and appliance manufacturers”, (UOP Virtual Organization, 2006). This company was started by a chemistry professor in 1993 and has expanded over the last 7 years. In 2006 Riordan has projected to increase their
Riordan Manufacturing is a global plastics manufacturer and industry leader in the field of plastic injection molding with locations in Georgia, Michigan, California, and their most current expansion in 2000 to Hangzhou, China. The plant located in China manufactures fans using a make-to-stock operation that uses a forecasting method to determine future demand. A review of their strategic capacity planning and lean production for their new process design and supply chain process for the electric fans will address bottleneck and supply chain issues. Also outlined are the details of new processes and how the benefit the company.
Riordan Manufacturing is on the cutting edge of dynamic plastic injection molding. International acclaim has followed the company as it has expanded globally and created exciting new products. With a staff numbering well over a thousand the company needs to create an effective and efficient computer system utilization that will expedite the processes between each department and employee. System upgrades are crucial to keep the organization at the forefront of its field and by suggesting significant improvements to the IT department this can be achieved. By providing Riordan Manufacturing with a better supply chain that can be used to cross-communicate between buying, receiving and the inventory and shipping
In plastics mechanized marketplace, Riordan Manufacturing is a universal head. The company has services in Albany, Georgia, Pontiac, Michigan, Hangzhou, China and San José, California. $46 billion are the roughly annual income of Riordan’s project. In 1992, the company starts actions with the company’s prime purposeful Human Resources Information System. The present scheme is component of the economic schemes parcel that follows the worker information. Latest examination of the existing HRIS has offered verification as demonstrating the scheme requirements promotion to assemble Riordan’s mounting desires. Riordan made preparations to inform the existing HRIS scheme with a further complicated HR scheme to stay as practicable.
In this paper, team D will address the course design objectives of Riordan Manufacturing. First of all, the team will pick two job positions within the company, and discuss the general functions of performance management systems, job evaluation methods, compensation plans, and the importance of employee benefit plans. The two job positions discussed in this paper will be the Director of Administration, and Human Resources/recruiter. These positions were selected due to the extreme amount of importance their roles play in completing Riordan Manufacturing’s Mission.
Intellectual capital (IC) and knowledge management (KM) have become critical buzzwords in the business lexicon. This is particularly true of companies such as Riordan Manufacturing, a company which produces high-tech, cutting edge materials for the plastics industry and sells them to a variety of firms around the world. This paper will survey how Riordan currently deploys these concepts and also explore potential areas for future improvement.
The Chief Executive Officer of Riordan Manufacturing in a service Request SR-rm-012 requested a summary evaluation that will lead to improvement on all level of Business systems and Subsystems that is currently in place at Riordan Manufacturing. This paper shall review existing Business Systems and Subsystems and proffer necessary suggestions that will lead to improvement and will help to streamline and consolidate business operation in the company.
After reviewing the existing hardware and software being utilized, I have concluded that Riordan Manufacturing must make changes to some hardware, software, and procedures affecting IT to be able to meet it 's current goals and expectation. To be able to do this, Riordan Manufacturing must upgrade outdated equipment, upgrade unsupported operating systems and applications, and consolidate databases and increase productivity.
Riordan Manufacturing has a multitude of problems that they are trying to correct in a reactionary manner. The innovative efforts of the company could have possibly been alleviated if the company had watched the changing trends in the industry and
Riordan Manufacturing is a firm that engages in manufacturing of plastics. The firm is a leader in applying current technology both in its manufacturing operations and
Riordan Manufacturing is a manufacturing company that manufactures plastic. All companies must have some sort of information system, along with different types of hardware and software. Businesses need good information systems in order to ensure that their records are accurate and complete.