Riordan Manufacturing Business Analysis

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Riordan Manufacturing, Inc. Business Analysis

Learning Team B
BSA 500
University of Phoenix Instructor: Charlotte Bonner
October 6, 2008

* Riordan Manufacturing, Inc. Business Analysis *
Riordan Manufacturing Inc. is a leading global manufacturer of plastic injection molding components. Some of the components that it manufactures include: plastic bottles, fans of all sizes, heart valves, medical stents, and other custom plastic parts. Riordan is focused on high standards, long term customer relationships, innovation, and growth. The company was originally founded in 1991 by a professor of chemistry, Dr. Riordan, as an outlet for commercial applications for the high tensile strength plastic substrates that Dr. Riordan had developed. Riordan Manufacturing is now a subsidiary of the Fortune 1000 enterprise, Riordan Industries. The company is headquartered in San Jose California, but also has facilities in Georgia, Michigan, and China. Current large projects include the design stage on an innovative bottle in the shape of a pyramid, and the proof of concept stage on a CardiCare heart valve. Information Technology (IT) infrastructure, serving 550 employees, consists of three Wide Area Network (WAN) lines originating from the corporate headquarters in San Jose (125 employees) to the three manufacturing plants in: Michigan (130 employees), Georgia (45 employees), and China (250 employees). Modules

Accounting Modules
Riordan Manufacturing’s corporate office has integrated ERP software designed purposely for plastics, processors, and process and assembly manufacturers. During acquisition in Georgia and Michigan, the finance and accounting software’s compatibility issue was not addressed. For this reason, Georgia and Michigan have applications which are not compatible with the current financial system. The following is a list of additional modules that should be connected to the accounting system: Inventory Modules

The Inventory module will help Riordan Manufacturing with the physical management of their stock (until used up or sold). It will perform a sound cataloging procedure by assigning item numbers that the accounting system can process. Asset Management Modules

Asset Management will help Riordan Manufacturing with physical maintenance, tracking of assets, and financial management. Physical maintenance includes the asset location, condition, and the assignment of asset management to specific individuals. Cash Management Modules

Cash Management will help Riordan Manufacturing manage and control the cash cycle. It will ensure liquidity and enhance profitability. Benefits of this module include multi-currency capabilities, cash balancing, bank reconciliation, and cash forecasting. Web Applications Modules

Web Applications will help Riordan Manufacturing in many ways. Customers and salespeople alike can enter orders through the web. This “real-time” web configuration will shorten the order cycle, and enhance customer satisfaction. Employees of Riordan will be able to use this medium for expense reporting, supply requisitions, and communication between employees. Multiple Currencies Modules

Since Riordan has a joint venture with China, the Multiple Currency module will be of considerable help. Financial transaction with China will be recorded in the sub-ledgers and converted into the “functional currency” by using current exchange rate information. The transactions will be recorded and maintained in the accounting data. Riordan’s “functional currency” will be in US dollars. Payroll Modules

The Payroll module will apply human resource data to salaries and benefits and determine the amount of pay and how to get the disbursement to the employee. It will take into consideration national tax codes and worldwide regulations. The system can also track and do...
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