Riordan Manufacturing Financial Analysis

Riordan Manufacturing is a large company with facilities in several locations around the world. Riordan Manufacturing is an international plastics manufacturer that currently employs 550 people and operates at around $46 million in sales("Riordan Manufacturing", 2013). As a result of its size, Riordan must have a system that is able to keep track of important information such as employee names and other confidential data. This information should be able to be accessed from other locations as well as the home office. There are other functions that a new and improved HR system could benefit such as inventory tracking or the shipping or reception of products. These

Riordan manufacturing is a very large company with facilities in many locations around the World. With any company with this size Riordan must have a system in place that is able to keep track of significant amounts of information. Such as Employee names, time sheets and a variety of other important information. This system should be able to have a central location so that stores all of this information and can be accessed not only by the corporate office but at each location as well. There are many functions that a new and improved system should provide. Such as inventory control, tracking of shipments into and out of the warehouses, and the receiving of such items to our costumers. These requirements are essential to the growth of Riordan Manufacturing.

Subsequently Riordan Manufacturing proposes to have higher levels of inventory that allows them in effectively forecasting models for inventory control, production, planning, improving supply chain, and guaranteeing deliveries of Riordan products. Creating a new process design essentially caters for the new supply and demand of Riordan products. Using lean production can help Riordan Manufacturing minimize waste from raw material toward the finished product. Because of the elevated demand for the product, production needs increase (Chase, Jacobs, & Aquilano 2006).

Riordan Manufacturing is in need of updating their decrepit HRIS system to stay profitable. This system will move from the legacy system, integrated with the financial system, into a new standalone system used to integrate all of the HR tools within the system presently.

Riordan Manufacturing has been on a steady growth pattern since it began in 1991. Riordan currently has multiple databases handling separate aspects of the company. Each branch of Riordan Manufacturing has its own databases for human resources, sales, accounting and finance, operations and security. This paper presents the problems this type of system can cause and recommendations of a system that will integrate all locations regardless of city, state or country. These recommendations will integrate Riordan’s business systems by creating a central location for the information resulting in a streamlined,

Each entity within Riordan Manufacturing has its own finance and accounting systems that provide input with the intent to consolidate at the corporate office in San Jose, California. Each branch of finance and accounting has a general ledger, accounts payable, accounts receivable, order

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.

Riordan Manufacturing Future is must be focused in maintaining and achieving reasonable profitability to assure that the human capital and financial is available for sustained growth. Riordan Manufacturing Employees will maintain an innovative and team oriented working environment. By assuring that theirs employees are well informed and properly supported, they will provide a climate focused on the long term viability of theirs company.” (Bai, 2009)

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.

IS updates at Riordan Manufacturing are necessary to meet future goals. We would like to be your partner, helping you reach the $50 million dollar revenue target. (Riordan Manufacturing Intranet, 2005) Your current information systems state will not enable Riordan to achieve this mark, especially in the finance, accounting and inventory areas. We will demonstrate how systems upgrades at your Atlanta, Georgia and Pontiac, Michigan plants will improve information integrity and availability through your entire organization. This investment in the future will guarantee your financial success of the future.

The Finance and Accounting departments within the three operating entities of Riordan Manufacturing are vastly different. Each is managed independently, not only of each other but of the corporation sector as well. The Georgia, Michigan and California branches operate different business systems for their ledgers, accounts, orders, procurement, sales history, invoicing, payroll and all financial reporting. The process to get this information is unique from branch to branch and time consuming for corporate when it comes to consolidation. None of the systems used are integrated, which causes many hardships for the departments and the company in terms of untimely reporting and

To regulate the sales team perform to greatest benefit and therefore enable Riordan to meet its two-year revenue goal, a few internal efficiency concerns needs be addressed. At this time there are inequities in Riordan’s financial and accounting systems. Legacy work processes inside the inventory, purchasing, and shipping divisions, integrated with need of consolidation of essential customer information and sizeable sales data will hamper Riordan’s goals Right now Riordan Manufacturing has been

One recommendation is that Riordan should update their information systems to improve on documentation of customer needs assessment. This will help to shape products and solutions that will fit their customer needs. It also can help to improve communication within the supply chain between participants as they are a global operation and perhaps cut costs in the area of carrier costs. Implementation of the JIT can help manufacturers to purchase and receive supplies just before they are needed. Thus it can reduce inventory storage costs for Riordan.

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

Riordan Manufacturing is an international plastics manufacturer with revenues in excess of $1 billion. The company's primary stakeholders consist of Riordan Industries, a Fortune 1000 enterprise, who founded the company in 1991. The company has experienced rapid growth since its organization. The organization's current headquarters are in San Jose, California with many other a facility located Georgia, Michigan and is even expanding to China. Projected earnings for the company are greater than $46 million with a