Summary of Riordan Manufacturing
Riordan Manufacturing Inc. is in the field of plastic injection molding. A leader in plastics designs in many different areas, with state of the art capabilities in developing innovative products for their customers. The company was founded by Dr. Riordan, a professor of chemistry, working with processing polymers into high strength plastic articles. Dr. Riordan obtained patents and licensing to start manufacturing plastic fans in the plant at Pontiac, Michigan in 1992. This summary will cover Riordan’s mission, the four plant description, and the companies finance and accounting.
Mission-Riordan Manufacturing is a global plastic manufacturer to include plastic beverage containers, automotive, and aircraft parts. The Research and Development (R&D) department continues to provide solutions for their customers using polymer materials to create new and creative products. Riordan is a Fortune 1000 enterprise and a Six Sigma leader in R&D standards and remains the industry leader in identifying innovating trends.
Description- The Riordan Company has four plants that produce a variety of different items. The Albany, Georgia plant produces plastic beverage containers for the beverage makers and bottlers. Customized plastic parts for the appliance manufacturers are produced at the Pontiac, Michigan plant. Plastic fans for the automotive parts manufactures are fabricated at the facility in Hangzhou, China. The R&D is in development of different items for the Department of Defense and are conducted at the corporate headquarter in San Jose, California.
Riordan has three operating facilities and they all have their own financial systems. The three facilities provide data input in the consolidate...
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...ting such documents to the Government will also be easier. A suggestion of
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Board and the Federal Accounts Standard Advisory Board will make for a complete and up to
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Works Cited
University of Phoenix. (2004). Riordan Manufacturing Inc [Computer Software]. Retrieved from University of Phoenix, Simulation, BSA310 BUSINESS SYSTEMS website.
Employee motivation and rewards are effective means to retain employees. When an employee is motivated, his or her needs are being met. When an employee is unmotivated, his or her needs are not being met which results in a high employee attrition rate. Riordan Manufacturing is experiencing a high attrition rate. Riordan Manufacturing has 3 plants and employs 550 people. Recently, Riordan hired Human Capital Consulting to perform an analysis on the underlying issues that are causing the decreasing employee satisfaction and to recommend courses of action that will address the underlying issues. Research has been done to identify the issues and opportunities, the stakeholders and ethical dilemmas, and the end state vision. A gap analysis has also been performed to determine the gap between the current situation and the end state goals. Riordan Manufacturing will use this information to determine the best way to proceed towards improving its working environment for the employees.
Although Riordan Manufacturing has a generic strategic direction, a comprehensive strategic plan reevaluation and development must occur after the move to China. Environmental scanning, strategy formulation, strategy implementation, evaluation, and control are fundamental to the creation of a strategic plan (Wheelen & Hunger, 2010). Because, strategic planning is integral to the corporate strategy and success of Riordan the board of directors' requesting Team B formulate a comprehensive strategic plan for their organization.
The goal of the Codification is to simplify the organization of thousands of authoritative U.S. accounting pronouncements issued by multiple standard-setters. To achieve this goal, the FASB initiated a project to integrate and topically organize all relevant accounting pronouncements issued by the U.S. standard-setters including those of the FASB, the American Institute of Certified Public Accountants (AICPA), and the Emerging Issues Task Force (EITF)
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...r financial reporting were efficient and the maintenance of records is in reasonable detail, accurate and fairly reflect the transaction and the disposition of the company’s assets. It also provides reasonable assurance of the transaction recorded which made it possible to prepare the financial in accordance with GAAP. Also the expenditure has properly authorized and provides assurance of any violation to be present in the company and provide assurance regarding timely detection of unauthorized acquisition which could material effect on the financial statements.
product for big scale manufacturing. They do this by designing a plant to produce the item on large
Subsequent to the Active Directory (AD) implementation discussion, this proposal addresses possible user accounts and group organizations for Riordan Manufacturing. This document discusses user and group accounts available through AD, and addresses possible implementation plans for the parent domain of riordanmanufacturing.com. These plans could also be implemented in the child domains for the four Riordan facilities, though addressing the actual implementations for those sites falls beyond the scope of this document.
Accounting: From Clay Tablets to the Cloud, How Technology has Changed the Accounting Profession Every business professional knows that accounting is the language of business. The language of business has especially been transformed in the last 38 years due to the almost constant change in technology and technology. Accounting professionals have become the interpreters for the language of business, a language that all business professionals must understand to be successful. in today’s highly competitive market.
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