...Riordan Manufacturing Strategic Plan Executive Summary Riordan Manufacturing Incorporated has seen success over the last few years. At Riordan, staying profitable has not been an issue. To stay competitive within their industry the organization wants to promote growth, but because of a performance gap, which is preventing Riordan from achieving more revenue and accomplishing specific monetary goals by 2013, this new strategic plan in developed. Team B recognizes the dilemma, found an objective, explored options, and recognizes the ideal solutions. The issue is how to bridge the performance gap with a purpose to increase revenue from $40 million to $50 million by 2013 (Apollo Group, Inc., 2006). Through a SWOT analysis and further research, Team B realizes that there are options available to overcome and take advantage of this area of opportunity. To reach the long and short-term goals of Riordan, a differentiation focus is the most beneficial competitive strategy to manage threats, trends, and opportunities. The differentiation focus will make sure to dial in on specific endeavors on total quality improvement and expediential growth in the markets of the United States and China. The company strengths are a synergistic team and ground-breaking research and development. Riordan also needs to take advantage of the booming health care field and provide plastic products that meet the needs of clients in the health care industry. By focusing on the improvement of quality...
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...– Learning Team D OPS/571 Riordan Manufacturing is one of the largest plastics manufacturers in the world. Riordan’s mission statement states that it’s focus is to “Six Sigma, leading edge R&D and exceeding ISO standards” (Riordan Mfg. Internet, home page, 2014). Riordan’s fan manufacturing operation is located in Hangzhou, China. Team D will evaluate the Riordan’s fan manufacturing supply chain design and perform a comprehensive evaluation of the operational effectiveness of the supply chain. Manufacturing Strategy Riordan’s Intranet states, that the Hangzhou plant bases its forecasts by “taking the average of sales for the last three years and extrapolating it into the next year” (Riordan, Operations, Hangzhou, China, 2014, p. 1 para 4). Riordan’s use of this approach has lead to a 93 percent on-time delivery rate. Team D believes that the information regarding Riordan’s manufacturing strategy, taken from the firm’s intranet website is an indication that it employs a “Stable Workforce-Variable Work Hours” production planning strategy. This strategy varies the number of hours worked through flexible work schedules or overtime to match the production quantities to orders” (Jacobs & Chase, 2011, pg. 534). It helps assure that the workforce has continuity which helps with employee morale. It is extremely important for employees to feel secure in their work environment. Many workers face everyday pressure on their jobs and in their personal lives. Knowing that they...
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...Riordan’s Strategic Plan Team C: MGT/498 May 29, 2014 Riordan’s Strategic Plan Riordan Manufacturing is a Fortune 1000 company that that leads the world in the manufacturing of plastics and plastic injection molding. With more then a billion dollars in revenue, Riordan has decided to shore up their global business by developing a strategic plan that will take the company into the next five years. With global and domestic operations based in Michigan, California, Georgia, and China, Riordan has reviewed their business structure and revealed areas, which require the optimization of operational efficiency throughout company. Along with other companies, Riordan manufacturing shares competitive advantages in several avenues of manufacturing and business. Riordan’s focus on direct selling gives them a competitive advantage, as does their commitment to their employees, customers, and shareholders. Riordan’s commitment to the community is to provide low cost products, while at the same time sustain revenue and profitability growth. Riordan’s strong brand recognition in their industry gives them an advantage just as Apple, DuPont, GMC, and Nike have in their markets. Riordan’s strong engineering and R&D departments are known for their quality. Strategic Plan Over the years Riordan has expanded business operations from development, to large-scale manufacturing and finally to producing state of the art plastic injectors. Riordan expanded...
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...Riordan Manufacturing [pic][pic] [pic] Strategic Plan 2013 - 2016 MGT 498 January 14, 2013 Contents Introduction 3 Background 3 Internal Structure 4 Background to the Vision, Mission Statement, and Strategic Objectives 6 Environmental Scan 7 Vision, Mission Statement, and Values 8 Vision 8 Values 8 Mission Statement 9 Our Focus 9 Our Customer Relationships 9 Our Employees 9 Our Future 9 SWOT Analysis 10 Key Success Factors 11 Driving Forces 12 Strategic Objectives 13 Meeting Critical Success Factors and Strategic Objectives 15 Strategic Objectives Actions Plans 17 Reference 18 Introduction Riordan’s Strategic Plan will provide the framework to guide stakeholders and management to meet and exceed strategic objectives of the organization. As the plan period progresses, the plan may change dependent upon policy change, leadership change, and/or industry change. This plan concludes Riordan’s discussions concentrating on any challenges to ensure the organization can meet expectations of stakeholders. The management of Riordan will use this strategic plan for direction in achieving objectives. The plan includes the following key points which will guide the direction of the organization: ▪ Vision; ▪ Mission statement; ▪ Environmental Scanning; ▪ Critical Success Factors; ▪ Strategic objectives; and ▪ Strategic objectives’ action plans. Background Riordan Manufacturing is...
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