Full version Executive Summary, Riordan Manufacturing

Executive Summary, Riordan Manufacturing

This print version free essay Executive Summary, Riordan Manufacturing.

Category: Business

Autor: reviewessays 14 April 2011

Words: 1469 | Pages: 6

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.

Executive Summary 3

The Riordan company overall is doing very well. They are a company who is groundbreaking in the development of unique plastic designs. In the beginning their initial focus started out as research and development and the licensing of existing patents. In 2000 they then ventured into expansion causing a shift in some of the locations of the manufacturing plants. Currently there are 550 employees; plants in California, Georgia, China and Michigan in addition to some key customers that include automotive parts & air craft manufacturers, Department of Defense, and appliance makers. Financially they are doing quite well brining in an expected annual income of $46 million dollars. Riordan also has their own manufacturing industry- part of the Fortune 1000 enterprises. Although business is good there are some areas of improvement to be addressed.

Areas Identified addressing areas of improvement

• Many employees within the Riordan Company are capable of using the computer, however it is feasible that more computer skills be learned and utilized within the company.

• Consolidate customer information to deliver better value to its customers.

• Develop seamless compatibility.

When looking to make changes within your company it is also essential to

Identify the purpose of projects you begin.

Executive Summary 4

The companies focus, mission statement, customer relationships, and employee goals are satisfactory, however at Riordan a couple of their reasons for conducting this project were to; first increase efficiency within the company and secondly to maintain profitability. Both of these are necessary to conduct business and be successful.

Stakeholders play a significant role in the daily, monthly and yearly operations and accomplishments of Riordan. Some of their stakeholders to name a few are: The employees themselves, customers they serve, businesses they sell their products to (auto part manufacturers, aircraft manufacturers, appliance manufacturers), Department of Defense, and the beverage makers and bottlers. These to say the least are the first and foremost priorities of the company’s progress. The stakeholders must be taken care of first to continue the company’s success. It sounds like Riordan is doing a good job in taking care of this and must continue to do so.

Computers are a must as well to do business in today’s market. It is apparent that not all the employees are as computer literate as they should be. It is a recommendation that Riordan offer a class that trains its employees on a little more of the fundamentals of the applications that they will use. This will not only empower employees to feel more confident, but will also add to the constitution of the company. It shouldn’t take too much to get this in motion. If there is already an employee that is skilled enough to instruct a class on the different applications or programs it will be less expensive to pursue. However, even if Riordan has to bring in an outside source to teach the class, it should pay off immensely with employee’s confidence.

With the employees getting more training on their computers, it should also help with the consolidation of the customer’s information in different databases or programs. With this knowledge of being able to add all of their information into a database, it should speed up the efficiency of customer support and satisfaction. This will also potentially consolidate paper in the company pushing them to be more of a paperless corporation, which is a plus in avoiding loss of information and disorganization. More companies are moving towards this any way.

Another thing that needs to be improved is compatibility with other companies and customers. With the training and consolidation of customer information, compatibility should fall in to place as well. It is important that the company evaluates what the others are using and makes sure that their programs and information is seamlessly compatible as well. This shouldn’t be a problem, and will ensure a more stable information-sharing platform.

With all of these improvements made, Riordan will ensure their success in more ways than one. Computers are a way of life in this day in age and it is important that the company keep up with the times. By offering a training class on data input and other applications, this will empower employees to consolidate more customer information as well as ensure compatibility with other clientele.