Mission:
The Riordan Manufacturing Mission Statement is very specific in what it expects from its Focus, Customer Relationships and Employees. For its Focus they want to stay as the industry leader in identifying industry trends, to be a solution provider for the customers by maintaining long-term relationships and keeping a responsive business attitude and reasonable pricing and by keeping the employees well informed and by providing a climate focused on the long term viability of the company
Company Description:
Riordan Manufacturing was founded by Dr. Riordan, a professor of chemistry who worked and obtained many patents relative to processing polymer in high tensile strength plastic substrates. Dr. Riordan started his company in 1991 and started using his patents into real life products. Riordan Manufacturing is a multinational plastic manufacturer who produces the beverage container, Plastic fan parts. They also manufacture automotive parts and aircraft manufacturer where they use their patents to make best of the tensile products. This helps them in best of the quality. Riordan Manufacturing has manufacturing plants are located in many place in the world like Albany, Georgia, Pontiac, fan facility is in Hangzhou, China. Riordan Manufacturing employees 550 employees with projected earnings of $46 million. Riordan manufacturing is a subsidiary of Riordan Industries, a fortune 1000 company with revenues over $1 billion. The Finance Department and Position of Riordan Manufacturing:
A broad overview of the finance and accounting systems of Riordan have shown the largest challenge is that all the locations are using different operating systems and software. One location, Michigan uses vendor designed software and that vendor is no longer in business. This creates a need for a universal system and application that will allow all the locations to communicate with each other and the corporate office. The executive boards have taken the need for this into account and have research existing state of the art systems that would allow for this to occur. The cost for the system is over $1.37 million dollars. They plan on spending $ 0.5 million dollars this year and financing the remainder over 5 years. There is also a desire to purchase updated machinery but it has not been put into the budget yet. There is another issue with the China plant. It has cost substantially more to transport and then ship the finished product than it would if we were closer to the shipping source. Most of the
