Riordan Enterprise Risk Management Plan

Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. There is a plant in Albany, GA that produces plastic beverage containers, a plant in Pontiac, MI that produces custom plastic parts, and a plastic fan parts facility in Hangzhou, China. The corporate office is in San Jose, CA along with the corporations Research and Development Department. Riordan Manufacturing is a subsidiary of the parent company Riordan Industries, Inc. a Fortune 1000 enterprise with revenues in excess of $1 billion (Apollo Group, 2013).

Riordan Manufacturing is a global producer and manufacturer in the global plastics industries and has about 550 people that have a projected annual earning of over $46 million dollars. Riordan has a manufacturing plant located in Albany, GA that is capable of producing plastic beverage containers, another plant that is located in Pontiac MI that is capable of producing custom plastic parts, and another plant located in Hangzhou, China that produces plastic fan parts. The corporate offices and research and development department of Riordan are located in San Jose, California. Riordan Manufacturing is part of Riordan industries Inc.

Riordan Manufacturing, a leading global manufacturer of plastic containers, parts, and fan parts, is wholly owned by Riordan Industries, Inc. Riordan’s fan manufacturing plant was purchased in 1992 when it was located in Michigan. In 2000, the company moved its fan manufacturing operation to China where it now resides.

Riordan Manufacturing needs to meet the demands of their clients. They will need to work on the safety stock to have inventory on hand and ready to ship for their

Riordan Manufacturing currently has four plants of operations. These plants are in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hungzhou, China. Currently the Operations department runs on independent Microsoft SQL servers running Microsoft Project, and Microsoft Office 2003. The Research and Development department recently received an upgrade to there outdated Computer Aided Drafting Software from aSa Solutions because the system on hand was inadequate to handle the needs of the Pyramid Bottle project.

During review of the Riordan Manufacturing Companies Inventory and manufacturing processes, we have found areas that are in need of improvement. We will discuss the present processes and how these can be changed to improve

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

Riordan Manufacturing Company promotes adherence to the compliance plan as a key element in the evaluation of performance of all the officers of the business entity. Employees of Riordan Manufacturing are bound to comply, in all official acts and obligations, with all applicable laws, rules, and regulations, standards of conduct within but not limited to laws and directives of the Federal Government and rules and policies of the company (Heider, 2006). All people seeking employment shall undergo reasonable and vital investigation process. There will be application of due care during recruitment practices to ensure that the individuals seeking to serve within the company have the required level of qualifications. The due care would look into the criminal records, prior employment, and credentials to enable the individuals succeed in their new positions. All recruits will obtain effective and efficient orientation in compliance with policies and procedures.

At this time, Riordan Manufacturing has three operating entities in Georgia, Michigan and California. Riordan also has a joint venture in China. Each operating entity keeps independent financials including a general ledger, accounts payable and receivable, order entry, procurement, sales and purchasing history, invoicing and shipping, payroll, and financial reporting. The advantage of having each unit run as its own business is that each unit knows its customers and its relationship with its customers. They are able to establish personal contact with both customers and vendors, report on payments and receivables from these customers, and follow the accounting through to the general ledger. Payroll is handled locally which increases the understanding of shifts, over time, and labor hour accounting. Advantages of local order entry is the fact that the individual unit knows the product or products that it produces and is able to help the customer with the knowledge of the manufacturing process and how it affects the accounting process. Keeping the invoicing and shipping localized is advantageous in that it keeps it cohesive and easy to find errors. The financials will come together from individual manufacturing divisions to form a reliable source of accurate financial reporting; therefore, the

Riordan Manufacturing is a global plastics manufacturer and a leader in the field of plastic injection molding. This paper will provide a brief background history of the company, some identified core values, ratio analyses, a variance analyses on the companies financials, an analysis of the current accounting systems and recommendations on providing appropriate communicative and data gathering software for the future accounting systems.

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.

Social and ethical responsibilities play an important factor in Riordan’s strategic management plan. Employee and labor relations are a vital part of Riordan’s success. Currently, all of Riordan’s facilities are non-union facilities, and employee relations are the human resources department responsibility. Riordan Manufacturing has legal counsel to handle all legal matters in relation to tax law, real estate transactions, employment law, immigration matters, civil litigation, workers compensation, labor law, and customs regulations. Having a legal team available to Riordan at all times ensures they are in compliance with laws in both domestic and foreign markets and should any additional legal issues arise.

Riordan Manufacturing Inc. is a leading global manufacturer of plastic injection molding components. Some of the components that it manufactures include: plastic bottles, fans of all sizes, heart valves, medical stents, and other custom plastic parts. Riordan is focused on high standards, long term customer relationships, innovation, and growth. The company was originally founded in 1991 by a professor of

Enterprise risk management (ERM) is a relatively new discipline that focuses on identifying, analyzing, monitoring, and controlling all major risk classes (e.g., credit, market, liquidity, operational risk classes). Operational risk management (ORM) is a subset of ERM that focuses on identifying, analyzing, monitoring, and controlling operational risk. The purpose of this paper is to explain what enterprise risk management is and how operational risk management fits into the ERM framework. In our conclusion, we discuss what is likely to happen in the ERM / ORM environment over the next 5 years. Introduction As

Enterprise Risk Management (ERM) is process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effect of risk on an organizations capital and earnings.