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Individual Assignment

Essay by   •  December 14, 2010  •  1,915 Words (8 Pages)  •  1,579 Views

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Introduction

In this essay Team D will be identifying existing or needed business systems from the Riordan Manufacturing. Team D will be reviewing the finance and accounting, mission, description, sales and marketing as well.

Mission

Riordan Manufacturing focuses on the Six Sigma, which the leading edge R&D and exceeding ISO 9,000 standards define the attitude and abilities of Riordan Manufacturing. Riordan is an industry leader in using polymer materials to provide solutions for customers. Riordan R and D will remain the industry leader in identifying industry friends. Riordan will strive to be a solution provider for customers and not be Riordan customer's challenges. Riordan long-term relationships will be sought by maintaining rigorous quality controls, innovative solutions, a responsive business attitude and reasonable pricing as well. Riordan will maintain an innovative and a team oriented working environment. Riordan will do this by assuring that employees are well informed and properly supported. Riordan will provide a climate focused on the long-term viability of Riordan Manufacturing. Riordan future is to focus in achieve and maintain a reasonable profitability to assure that the financial and human capital that is available for sustained growth. (Apollo Group 2005)

Description

Riordan Manufacturing is a global plastic manufacturer that as an employment of 440 people with projected annual earnings of $46 million. Riordan is owned by Riordan Industries, which is a Fortune 1000 enterprise with revenue of $1 billion.

Riordan products include plastic beverage containers that are produced in Riordan plant in Albany, Georgia that is custom plastic parts produced at its plant in Pontiac, Michigan. Riordan Manufacturing also makes plastic fan parts which are produced at Hangzhou, China. Riordan Manufacturing research and development is done at the corporate headquarters in San Jose. The major customers are automotive parts that manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacture as well. (Apollo Group 2005)

Financing and Accounting

Riordan Manufacturing has three operating entities which are Georgia, Michigan and California. And Riordan has a joint venture n the People's Republic of China as well. These operating entities have their own Finance and Accounting Systems that provides input that is consolidated at corporate San Jose. There are 12 basic components of Finance and Accounting systems they are general ledger, accounts payable, account receivable, order entry, procurement, sales and purchasing history, invoicing and shipping, payroll, EDI, bar code reading

EDSS (Executive Decision Support Systems), sales and marketing, financial reporting, (Apollo Group 2005)

Riordan Manufacturing has been attempting to consolidate customer information so Riordan can deliver a better value to customers. Riordan also has historical records in many disparate databases, such as in paper files and microfiche. (Apollo Group 2005)

Riordan Manufacturing has a system that will track historical sales. Most of the sales data in the past were recorded using paper and pencil. Riordan managed the information electronically in the past few years. Such as dates which include order, delivery, and payment dates by order. The unit and dollar volume of each product that includes plastic bottles fans, heart valves, medical sents, and custom plastic parts. And the sales by customer that includes price paid, cost, margin, and discount that are given. (Apollo Group 2005)

In the future Riordan Manufacturing is planning on building on past knowledge. By plans and results from the past market research studies are stored in a file cabinet in the marketing department. Riordan has a showcase in the lobby that displays the various design awards earned as well. Riordan Manufacturing is hiring part-time college students to scan the documents electronically. Riordan Manufacturing has 15-20 major customers which includes a government contract. Riordan Manufacturing has 12 minor customers as well. Every member of sales force maintains his or her own set of customers that records using a variety of tools. Sale team members use paper and pencil, while others use software such as Act, and others uses a hybrid. Riordan Manufacturing is evaluating a new integrated customer management system that will accompany the new team selling approach which will soon be rolled out. (Apollo Group 2005)

Riordan Manufacturing production records planned

to maintain records of the number of units that will produce each item by shift that can be rolled up to the product group and year. Riordan Manufacturing marketing department and production department maintain profits and loss statements, by item and by group.

Riordan Manufacturing marketing budget has historical and current annual budget allocations for marketing communications and marketing research as well.

Riordan Manufacturing marketing communication includes Sales force promotions, price/volume discounts to key accounts, public relations, brand development, tradeshows, events, and sponsorships, customer user group underwriting, literature and other collateral material. The marketing research expenditures include market size/opportunity studies, customer focus groups, and brand development research. (Apollo Group 2005)

F and A Department was not able to achieve anything remotely that resembles "seamless compatibility". F and A also provides to corporate via data files; some data is provided via hardcopy that will report and then the data is re entered; and some data files must be converted to the proper account codes and so on. Riordan Manufacturing has also the following situation that regard to F and A system outputs at the consolidated level. (Apollo Group 2005)

General ledger and subsequently the income statement and balance sheet are labor intensive and not completed until 15-20 days at the end of the month. Audit requires each month and is also costly and labor intensive. Compliance with new government that requires reporting requirements at the consolidated level is difficult. Riordan Manufacturing has mandated a solution and alternatives to be recommended. (Apollo Group 2005)

Business Systems

Riordan Manufacturing existing business systems is inventory management and control. Quality control is a common set of procedures that has developed the management of receiving raw materials by tracking products during

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