MEMORANDUM TO: CEO‚ Riordan Manufacturing Inc. FROM: Financial Analyst DATE: Tuesday‚ July 30‚ 2013 SUBJECT: Ratio analysis of Riordan Manufacturing Riordan manufacturing has developed as a producer of plastics as well as foam-based products. Listed below is a quick analysis of the company using liquidity‚ profitability‚ and solvency ratios. The analysis is accompanied by vertical and horizontal analysis
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TQM in Manufacturing and Service Organizations 14 April 2010 GM 588 Introduction to Topic Total Quality Management (or TQM) is a management concept coined by W. Edwards Deming. The basis of TQM is to reduce the errors produced during the manufacturing or service process‚ increase customer satisfaction‚ streamline supply chain management‚ aim for modernization of equipment and ensure workers have the highest level of training. One of the principal aims of TQM is to limit errors to 1 per
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Abstract Riordan Manufacturing is a company responsible for producing plastics globally. Some of their products include plastic beverage containers and plastic fan parts. Our team has been asked to put together an executive summary regarding identifying some areas needing improvement‚ defining the purpose of the project as well as who the key stakeholders are. Below is the review of our findings.
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will improve forecast accuracy. * Bias indicates the directional tendency of FE <------> MAD indicates the magnitude of FE (Weighted) Moving Averages The Exponential Smoothing Method; Linear Combination * Another special case of Weighted Moving Average * F t = F t-1 + α (X t-1 - F t-1 ) II. Aggregate Production Planning Production Planning strategies: Level‚ Chase‚ and Combination * Level: constant workforce & same amount of
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The American University in Cairo School of Sciences and Engineering Department of Mechanical Engineering MENG 339: Fundamentals of Manufacturing Processes ____________________________________________________________ _________ Sol. Assigt # 1 Manufacturing Overview Review Questions 1. What are the differences between primary‚ secondary and tertiary industries? Give an example of each category. Answer. A primary industry is one that cultivates and exploits natural resources‚ such
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Manufacturing Execution Systems (MES) are computerized systems used in manufacturing. MES can provide the right information at the right time and show the manufacturing decision maker "how the current conditions on the plant floor can be optimized to improve production output." MES work in real time to enable the control of multiple elements of the production process (e.g. inputs‚ personnel‚ machines and support services). Product lifecycle management (PLM) is the process of managing the entire
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1. External users’ reliance on financial statements External users rely heavily on the financial statement of Pinnacle Manufacturing. Although‚ Pinnacle manufacturing is a privately held company it incurs a large amount of debt. As a result potential users rely heavily on financial statements. Pinnacle is selling the machine tech division to focus on engine manufacturing‚ the company’s core operations. This causes buyers to also rely heavily on financial statements. In No. 6 the board chooses
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Interchangeable Manufacturing and Technical Drawings Until the 1700-1800’s industrial productions was like custom fitting sections in a product. Assembly would consist of craftsman hand filing and grinding roughly shaped parts and putting them together. The invention of interchangeable parts allowed the assembly of products to be done a lot quicker‚ and without training of a craftsperson. To be able to make the parts there had to be improvements to the technology in the machine had to be made
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PINNACLE MANUFACTURING―PART V ACCT444 Group Project Part 5 S 15-35 a. (Debbie‚ Anhchi‚ and Rachel) Client: Pinnacle Manufacturing Audit Area: Tests of Controls and Substantive Test of Transactions―Acquisitions. Define the Objective(s): What is the objective? Define the population precisely (including stratification‚ if any): What is the population? Define the sampling unit‚ organization of population items‚ and random selection procedures: What is the sampling organization?
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system‚ a JIT system‚ and in Synchronous Manufacturing. Which system do you believe to be superior? Why? Jacobs and Chase (2011) state that an MRP system allows for rejects by building larger batch quantities than actually needed. They further state that a JIT system cannot tolerate poor quality because JIT success is based on balanced capacity and a defective part can shut down an entire JIT system (Jacobs & Chase‚ 2011‚ p. 695). A synchronous manufacturing system has excess capacity throughout
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