...Riordan Corporate Compliance Plan Susan Holmes, Marcia Kelly, Peter Flores, Ronald Cox, Celeste Mellett, and Orlinda Watson, LAW/531 April 9, 2012 Instructor Name: Thane Messinger Understanding the position companies must take to protect the interests of investors and employees, the organization must have compliance plan in place. The compliance plan must address every possible liability that can bring financial and physical harm to the company. The organization must work with each department to understand the risks involved with each job. Knowing the risks and working to help the employees understand what those risks are and will help keep the employee minimizing risks of the organization. The compliance plan helps list the goals Riordan Manufacturing established to ensure the employees know the correct steps to comply with the laws and regulations. Legal Risk Exposure and Responses Traditionally, Riordan Manufacturing Company legal counsel interacts primarily with executive management and the board of directors to report on existing, pending, and probable litigation. Although this responsibility continues to be critical, it is imperative that there be an increased presence of legal counsel to the internal organization. It is important for counsel to act as an internal company consultant to help reduce legal risks. Activities include circulating existing legal risks status data, consulting internal management, acting as a sounding board for staff to...
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...Functional area relationship: Riordan manufacturing BUS\475- Integrated Business Topics Riordan Manufacturing Riordan is the largest industry capable of making polymer products .Their products are unique and are well designed. They are proud on their strategic planning and intelligence due to which they are able to make unique products. To satisfy their customers and fulfill their demands, the mission of the company is that the work and processes should be perfect and precise. Riordan manufacturing have well disciplined staff, proper management, excellent strategic planning and time to time communication are the qualities of Riordan can be analyzed through their way of working in new projects. To fulfill the client’s requirements they work in intensive care environment to make their product perfect. Due to remarkable reputation Riordan is spreading their industry to provide better services and products to the maximum number of clients all over the world. According to the need of the market they have now started to make medical supplies and plastic bottles. They are trying to get maximum resources to make different variety of products from the polymer. To make their reputation regarding to superior quality they have build a plant in china to supply their product globally. The motive of Riordan is that “No compromise in quality”. Reasons for Riordan’s existence Riordan is marketing their products worldwide. The aim of the company is that maximum number...
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...Functional area relationship: Riordan manufacturing BUS\475- Integrated Business Topics Riordan Manufacturing Riordan is the largest industry capable of making polymer products. They are proud on their strategic planning and intelligence due to which they are able to make unique products. For the client’s satisfaction, the mission of the company is that the work and processes should be perfect and precise. The unique qualities of Riordan can be analyzed through their way of working in new projects. To fulfill the client’s requirements they work in intensive care environment to make their product perfect. Due to remarkable reputation Riordan is spreading their industry to make maximum products for clients. They have now started to make medical supplies and plastic bottles. To make their reputation regarding to superior quality they have build a plant in china to supply their product globally. The motive of Riordan is that “No compromise in quality”. Reasons for Riordan’s existence Riordan is marketing their products worldwide. They have 550 employs which are working precisely and with unique skills, which have revenue of approximately 1 billion dollars. Riordan produces different products in their worldwide plants. Albany plant produces plastic containers, Hangzhou, china plant produces fans and other plastic products are produced in their plants located in Michigan and Pontiac. Beside of making these plastic products Riordan is also capable of making automotive parts...
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...Riordan Corporate Compliance Plan LAW/531 June 11, 2012 James Mc Phail Riordan Corporate Compliance Plan Riordan Manufacturing, Inc. Riordan Manufacturing is a global and international company that produces and sells plastic parts for the beverage manufacturing industry, automotive industry, aircraft manufacturers, and fan manufacturers. Riordan owns four major facilities in the United States Albany, Pontiac, Michigan, and Georgia. In addition, one joint venture located in China, in the town of Hangzhou. Riordan headquartered in San Jose, California is responsible for the creation of new designs, research, and development. The company employs 550 people worldwide, with annual earnings of $46 million. Enterprise liability Riordan currently maintains a corporate compliance plan. However, the company should improve the governance system to manage, control, and protect the company stakeholder’s assets efficiently against potential legal threats. Riordan should implement a strong corporate governance meeting structure that will allow conformance and compliance of new regulations and legal requirements. The implementation of procedures and corporate policies will help the employees to focus and will prevent compliance violations. Both officers and employees must comply with applicable laws and guidelines provided in the corporate policies. Regular reviews of the following governance committees will help to manage the liability of the directors...
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...Compliance Plan - Riordan Jennifer Stucky Law 531 - Business Law August 20, 2010 Professor Musafia Compliance Plan – Riordan International Law Riordan currently has a joint venture with a small consortium of Chinese nationals in China. The joint venture project produces plastic fan parts in Hangzhou, China. Riordan shall meet all fiduciary duties of loyalty and care in this joint venture as it is liable for damages for any breaches caused. Riordan shall adhere to the regulatory laws of China regarding how the operations in Hangzhou are run. Riordan shall ensure compliance in this area by establishing within their contract with the Chinese joint venture partners the responsibility to interface with local vendors, governments, and regulatory agencies. Riordan shall ensure compliance with all bilateral treaties with the United States and China or other countries they have customers with. These treaties are equivalent to international legislation. Riordan shall ensure compliance with these treaties by checking with the United Nations for all registered and published treaties and will update their policies within 30 days. Riordan shall comply with the United Convention on Contracts for International Sale of Goods (CISG) with its customers in Japan, China, Italy, Taiwan, Germany, Canada, United Kingdom, Brazil, India, Thailand, and Russia. The CISG establishes the rules governing the formation, performance and enforcement of the international sales contracts...
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...Manufacturing is a manufacturing company specializing in the production of plastic products and fans. The fan manufacturing plant is located in Hanzhou, China. The manufacturing of the fans is a make-to-stock operation. Future demand for the fans is forecasted based on the average sales of the last three years. Inputs for the production of the fans are acquired locally. The China plant uses the services of a local Chinese shipping company for delivery of goods. The plant uses FedEx or another Chinese shipping company for international shipments. Process flows, performance evaluation metrics, supply chains, lean production principles, and forecasting are all components in maintaining the success of Riordian Manufacturing. Supplier Relationships and the Effects on the Supply Chain Riordian Manufacturing’s plant in Hangzhou, China requires two major inputs for the electric fan production process. The first is high-density polyethylene plastic pellets (HDPE). Not much is mentioned on Riordian’s intranet other than the HDPE is purchased locally. The second major input is the electric motors that power the fans. The motors are produced locally by the Yin Motor Company (YMC). The Yin Motor Company became Rioridan’s supplier due to previous business or family relationship between YMC and Riordian’s partners in China. Rioridan receives the electric motors from YMC already assembled. Rioridan only stocks a small amount of the more popular electric fans to meet warranty...
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...Introduction The paper provides an overview of the Riordan Manufacturing Company and explains the purpose of the Corporate Compliance Plan. Next, the paper emphasizes four main issues which are Enterprise and Product Liability, Real and Intellectual Property, Governance and International Law related to Riordan's situation. The paper concludes with the Riordan's future legal responsibilities that can affect workforce productivity, customer relationships and customer relationships. 1. Organization Overview Owned by Riordan Industries, Riordan Manufacturing is an international plastic manufacturing company specializes in manufacturing plastic parts for the beverage manufacturing industry, automotive industry, and fan manufacturers with its headquarters lodged in California. After its foundation by Dr. Riordan in 1991, Riordan Company has tried to expand its capability in terms of production of plastics and beverages containers. The company has increased its level of productivity and opened a number of new manufacturing branches in Albany, Michigan, Pontiac, and China, Hangzhou. Riordan's product line includes plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the newest facilities in Hang Zhou, China. Riordan's major clients are automotive parts and aircraft manufacturers, the Department of Defense, beverage makers and bottlers and appliance manufacturers...
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...Functional Area Relationships: Riordan Manufacturing BUS/475 – Integrated Business Topics March 1, 2010 Dr. Laura Pogue Functional Area Relationships: Riordan Manufacturing Riordan Manufacturing boasts their strategic capabilities and intellectual property strength as having the patents for major polymer material substrates. Because of these patents, Riordan is able to build unique products which create opportunity for their clients. The mission for Riordan is to be a company which pays attention to detail, practices extreme precision, and quality control. The attributes of the Riordan mission are seen throughout the processes of all Riordan projects. Careful checks and balances are placed throughout the process of generating new products which provide Riordan with the ability to create new products to meet the “unique needs” of their clientele. Riordan manufacturing exists to provide innovative products to meet customer needs. While Riordan may have started out holding patents for unique polymer processing substrates, the vision and goals did not stop there. Riordan manufacturing produces medical supplies, plastic bottles, and also owns a manufacturing plant in China which produces fans. The basic focus of Riordan manufacturing is to build a name trusted by clients to be superior quality regardless of the product. Reasons for the organization’s existence Riordan Manufacturing has 550 employees globally who are part of a Fortune 1000 enterprise...
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...Human Resource System Service Request SR-rm-004 Riordan Manufacturing is a global plastics manufacturer company and was originated in 1991; founded by Dr. Riordan. He was a chemistry professor who processed polymers into high tensile strength plastic substrates. After many years of operations and expansions, Riordan Manufacturing now has a few different locations; Albany, Georgia; Pontiac, Michigan; Hangzhou, China and the corporate office in San Jose (Riordan Manufacturing, 2003-2006). Riordan Manufacturing would like a more sophisticated, state-of-the art, information system to help benefit the Human Resources department. Our goal is to analyze the HR system to integrate the existing variety of tools in use today into a single integrated application. The current Human Resource system does not function the way the company needs it to. When Riordan Manufacturing expanded the company to more locations, they tried to do their due diligence to acquire the proper items they would need to function. These items include, but are not limited to, network infrastructure, operating systems, hardware and software. The current situation they are facing affects Riordan’s Human Resource System. The current set up is as follows: San Jose is licensed for a fully integrated Windows based ERP manufacturing, distribution and financial management software application; however, this license does not include application source code. Michigan purchased a vendor developed software application and the...
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...Riordan Manufacturing: Supply Chain Design Paper Riordan Manufacturing, a leading global manufacturer of plastic containers, parts, and fan parts, is wholly owned by Riordan Industries, Inc. Riordan’s fan manufacturing plant was purchased in 1992 when it was located in Michigan. In 2000, the company moved its fan manufacturing operation to China where it now resides. Riordan schedules manufacturing of fan parts based on forecasted production needs using an averaged three year sales history. Riordan’s make-to-stock system benefits customers who need products quickly with orders filled from inventory when received. Riordan employs a robust shipping department including a variety of reliable shipping solutions from the plant in China to worldwide customers. Riordan Manufacturing’s electric fan production plant is continually analyzing its strategies. Process flows, performance metrics, supplier relationships and supply chain efficiencies, lean production principles, and sales forecasting are essential to the success of Riordan. The company uses reports and plans for material acquisition, production, and scheduling in its manufacturing facilities. Riordan’s Manufacturing Strategy Riordan’s manufacturing strategy is a stable workforce for two reasons; first, “it schedules production of fans to meet the forecasted sales” and the forecast is calculated by “taking the average of sales for the last three years and extrapolating it into the next year” (Riordan Mgf. Operations...
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...Riordan Business Systems Verne Weikle BSA/310 August 12, 2012 Michele Petrone Executive Summary Riordan Manufacturing’s (Riordan) Chief Executive Officer has requested a review of all Riordan’s business systems issued on Service Request SR-rm-012 (University of Phoenix, 2013). The comprehensive review will provide management the information needed to determine any improvements to Riordan’s business systems. First, the review will assess Riordan’s existing business systems by department while noting any interrelationships between departments. The review will also provide any business system suggestions that will increase productivity in each department. The Accounting & Finance and Operation department’s two primary alternatives are consolidating the Enterprise Resource Planning (ERP) at San Jose and the Enterprise Application Integration (EAI). Other improvements are implementing Vendor Management Inventory (VMI), adding access control to the intranet, implementing both Customer Relationship and Management systems, and workstation upgrade at the Pontiac plant. Departments reviewed are Accounting & Finance, Human Resources, Legal, Sales & Marketing, and Operations. Accounting & Finance The accounting systems at Riordan’s 3 plants and headquarters operate completely independent of each other. Monthly accounting records from the 3 plants are all consolidated to the headquarters’ accounting system at San Jose by uploading files and manual entry...
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...Riordan Manufacturing: Supply Chain Design Paper Riordan Manufacturing, a leading global manufacturer of plastic containers, parts, and fan parts, is wholly owned by Riordan Industries, Inc. Riordan’s fan manufacturing plant was purchased in 1992 when it was located in Michigan. In 2000, the company moved its fan manufacturing operation to China where it now resides. Riordan schedules manufacturing of fan parts based on forecasted production needs using an averaged three year sales history. Riordan’s make-to-stock system benefits customers who need products quickly with orders filled from inventory when received. Riordan employs a robust shipping department including a variety of reliable shipping solutions from the plant in China to worldwide customers. Riordan Manufacturing’s electric fan production plant is continually analyzing its strategies. Process flows, performance metrics, supplier relationships and supply chain efficiencies, lean production principles, and sales forecasting are essential to the success of Riordan. The company uses reports and plans for material acquisition, production, and scheduling in its manufacturing facilities. Riordan’s Manufacturing Strategy Riordan’s manufacturing strategy is a stable workforce for two reasons; first, “it schedules production of fans to meet the forecasted sales” and the forecast is calculated by “taking the average of sales for the last three years and extrapolating it into the next year” (Riordan Mgf. Operations...
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...Team Alpha Supply Chain Paper Angelo Meleandez, OPS/571 March 4, 2014 Team Alpha Supply Chain Paper Riordan Manufacturing is a global plastics manufacturer employing over 550 people with projected annual earnings of $46 million. The company is owned by Riordan Industries, a Fortune 1000 corporation with revenues in excess of $1 billion per year. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China (Riordan Manufacturing, 2013). Manufacturing Strategy Team Alpha will be discussing the Hangzhou facility in China and the many aspects of the supply chain design. The Hangzhou fan manufacturing plant uses a Level Strategy of production. The plant's business is a make-to-stock operation in which the future demand for fans is forecasted based on taking the average of sales for the last three years and extrapolating it into the next year. The assumption in using this forecasting method is that history will repeat itself within manageable limits (Riordan Manufacturing, 2013). A level strategy maintains a stable workforce, working at a constant output rate. Shortages and surpluses are absorbed by fluctuating inventory levels, order backlogs, and lost sales (Jacobs & Chase, 2011 pg.534). Employees in a level strategic manufacturing facility benefit from stable work hours at the costs of potentially decreased customer...
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...Riordan Corporate Compliance Plan Law 531 Riordan Corporate Compliance Plan Riordan Manufacturing, as a global plastics manufacturing company, has become a pioneer in its industry and has an employment base of approximately 550 people and has an annual earnings projected around $46 million. The company possesses a plant in Albany, Georgia that produces containers for beverage companies, a plant for manufacturing custom plastics in Pontiac, Michigan, and its Hangzhou, China plant develops plastic parts for fans. Riordan’s research and development group holds the title as the industry leader in identifying industry trends in research and development. Research and development activities are performed at Riordan’s corporate headquarters in San Jose, California. Beverage companies, automotive, aircraft, and appliance parts manufacturers and the Department of Defense are clients who can be found at the top of Riordan’s list of customers (University of Phoenix, 2012). Current Situation Riordan Manufacturing has recently suffered some strategic changes in the production and marketing areas. There are times when these types of changes begin to affect employee retention numbers. In order to make a business prosper, the company must take care of their employees. These leaders are concerned that employees might have private information and share it with commercial competitors. The other issue is that management is troubled that employees may leave because...
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...Riordan Manufacturing Corporate Compliance Plan LAW 531 – Business Law Facilitator: Gregory Schumacher March 30, 2009 University of Phoenix – Online Campus Riordan Manufacturing Corporate Compliance Plan Riordan Manufacturing, Inc. has been an industry leader in the plastics molding industry for nearly 20 years, and its success has been built on a formula of state-of-the-art research and development, strong customer relationships, and innovative, team-oriented employees. The current economic environment, state and federal regulations, and legislative statues present challenges to Riordan that require implementation of strong methods for organizing risk management responsibilities and activities. To achieve business objectives and continued competitive advantages, Riordan must structure risk management responsibilities and activities using a formalized process. The Enterprise Risk Management (ERM) process will ensure identified risks are properly assessed, controlled, and monitored throughout the company to reduce Riordan’s exposure to legal liabilities. This compliance plan outlines the ERM process for Riordan following the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework recommendations on critical aspects of organizational governance, business ethics, internal control, enterprise risk management, fraud, and financial reporting. Enterprise risk management deals with risks and opportunities that affect business value, negatively or positively...
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