Riordan Manufacturing Strategic Plan Essay

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. Riordan Manufacturing Strategic Plan University of Phoenix Strategic Management MGT/498 Riordan Manufacturing Strategic Plan A world renowned plastics manufacturer employing nearly 550 workers worldwide, Riordan Manufacturing Co. a leader in the industry of plastic injection molding, has more than $1 billion in revenue. With operations based in California, Michigan, Georgia, and China, review of current resources within Riordan’s business structure reveal numerous areas in need of redefining to improve operational efficiency company-wide. Implementation of this proposed strategic plan will address issues areas of improvement including • Ethical and social responsibility considerations • Competitive…show more content…
Today Riordan uses three separate accounting systems to compile financial data. This data is often re-entered by the headquarters office in San Jose. Manual entry of information is subject to reporting inaccuracies that may question Riordan’s ethics. The Sarbanes-Oxley Act of 2002 mandated a number of reforms to enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud. Riordan has a social responsibility to ensure the manufacturing plants are producing quality materials. Riordan must ensure they establish an effective quality control program consisting of design reviews, engineering analysis, adequate recordkeeping of raw materials and finished goods, inspection of incoming materials, testing during the manufacturing process and finished part inspections. These records should be of sufficient detail to document the steps that were performed in manufacturing the product. Such records should include results of design reviews; supplier information, product testing and inspection; equipment calibrations; and product tracing information (AM Trust North America, 2010, p. 14). The records will assist in timely detection of safety hazards and trends within Riordan Manufacturing. Environmental Scan To better understand what Riordan’s competitive advantages are and which competitive strategies Riordan should use to improve innovation and sustainability, members of Team A must
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