Production Plan For Riordan Manufacturing: Aiming For Reasonable Profitability

1079 words - 5 pages

Running head: PRODUCTION PLAN FOR RIORDAN MANUFACTURING

Production Plan for Riordan Manufacturing

Introduction

”We must be focused in achieving and maintaining reasonable profitability to assure that the financial and human capital is available for sustained growth” (University of Phoenix, 2004, p. 2). Riordan’s existence is dependent upon its ability to maintain and manage its very own growth and capital. Over the past years Riordan’s developments has increased its capabilities to not only cater to its consumers but yet concentrate on strategies in providing detailed, accurate and enthusiastic quality control. Although these hallmarks are the streamlines to ...view middle of the document...

Conversely, the reaping benefits behind the implementation of a strategic capacity plan would allow the organization an insight on the capacity level that best supports its forecasted competitive strategy as well as its approach in achieving streamline production.

Strategic Capacity Planning

The objective of strategic capacity planning is to determine the overall capacity level of capital-intensive resources—facilities, equipment, and overall labor force size—that best supports the company’s long-range competitive strategy (Aquilano, Chase, & Jacobs, 2006, p. 431). The capacity level has a vital impact on Riordan’s facility in China. If the capacity is inadequate, Riordan runs the risk of losing customers due to slow service or competitor entry; if the capacity is excessive, Riordan may have to reduce prices, reduce staff or carry excess inventory (Aquilano, Chase, & Jacobs, 2006, p. 431).
Riordan Manufacturing can benefit from the development of a strategic capacity plan by considering all time durations (short, mid and long range) and eliminating the bottlenecks currently present within its inventory and supplier networks. In addition, Riordan needs to include the China plant in the overall strategic planning for the organization and not treat this particular facility as a decentralized unit (University of Phoenix, n.d.). Short-range decisions (within the month) involve staffing requirements to meet demand outputs. Staffing levels could be inadequate during certain times because production demands are based on the forecasting of sales of prior years. This assumes that sales will remain constant among customers and may not allow for timely adjustment during peak periods. Mid range decisions (during the next 6 to 18 months) include hiring, layoffs, equipment purchases and new tools. Long-range decisions (greater than a year) include the approval for the acquisition or disposal of facilities, building and equipment. Riordan needs to reduce the cost of raw materials within the China plant and implement the just-in-time inventory method. This method allows for a reduction in lead times and work-in-process and will require a stable production level. Riordan may also consider cultivating relationships with area vendors and requiring minimum or guaranteed purchases in customer contracts to ensure appropriate materials requirement and timely delivery.

Lean Production

The theory behind lean production is utilizing the smallest inventory of raw materials while achieving a high-volume production. Therefore, product will not be utilized until that...

Other Papers Like Production Plan for Riordan Manufacturing: Aiming for Reasonable Profitability

OS Recommendation For Riordan Manufacturing Essay

4581 words - 19 pages of Windows Server 2003 and Windows Vista to increase overall system stability, performance, security, and the intrinsic benefits associated with staff productivity. Prior to making a final determination, the IT staff is tasked with researching the capabilities of the newer operating systems to allow for a side-by-side comparison with the Windows 9x and Windows 2000 operating systems presently deployed at the Riordan facilities in the United

Windows Operating System Upgrade for Riordan Manufacturing

3911 words - 16 pages Windows Operating System Upgrade for Riordan Manufacturing Team A Doug Wolk, Wade Edens, Adam Glogovac January 16, 2012 POS/421 Kristen McKiernan The Riordan Operating System Upgrade project requires significant research. This project headed by the information technology (IT) group, is leading the initiative and has assigned team alpha as responder to any requests, and research requirements. The project team consists of

Aiming for Better

896 words - 4 pages Aspiring For Better An Ideal Human Rights Treaty An Ideal Human Rights Treaty Human right treaties if ratified, should be effective in protecting human rights and by doing that they should improve human lives. But in reality they are not effective. One of the biggest problems with human rights treaties is that they have no enforcing and neither executive power. Even upon ratification, it is up to the ratifying states if they implement

Marketing Plan for Business

599 words - 3 pages Executive summary The things that will be discussed is the internal and external market analysis, product analysis, competitive analysis, identifying target market and developing marketing strategies Market analysis: Internal: Includes It is situated within Australia, the production methods they use is that they sell directly to the consumers, they have many employees. Its product quality is much better than the overseas models and the

Plan for Positive Influence

2186 words - 9 pages budget that allocates financial resources to the programs and activities that will accomplish the organization’s mission, vision, and goals and outcomes(preferably, in alignment with a strategic plan) Development and implementation of an ongoing system for monitoring and holding staff and volunteers accountable for their performance with regard to these policies and budgets. Implementation of an independent external review process(such as an

Marketing Plan for Hsc

5236 words - 21 pages product not only answers those requests but also gives the customer variety and practicality. The Tupperware name has already made a name for itself over the 66 years that it has been in production. Because of this reputation Tupper-Won’t-Wear intends to focus mainly on the product in relation to the marketing mix of the marketing plan. However considerations to promotion, place and price will also be made in order for success of the

Business Plan for School

5166 words - 21 pages 1.0 Executive Summary A quality education is sorely lacking in Asaba Delta State, Nigeria. The lack of quality education has had a detrimental impact on families and the society in that part of the state. Infant Jesus Academy School will be a top-notch and English-medium higher secondary school imparting quality education to children in the city of Asaba Delta State, Nigeria. The purpose of this business plan is to raise $100,000 for the

Compensation Plan for Interclean

592 words - 3 pages Millicent Mcgill 14 January 2010 University of Phoenix Dr. Kimberly Harvell HRM/531  Career Development Plan Week Five Compensation Plan for InterClean Introduction The merger at InterClean has been successfully completed. We have developed a new career development plan which included our process of job analysis, selection methods, training and mentoring program, performance appraisal and career management. Finally, we are in the

Personal Plan for Success

579 words - 3 pages Neither success nor failure depends on the complexity of a plan. It is quite the reverse. Success depends on the planner and the execution of the plan. An ethical strategy and motivation play important roles in achieving accomplishment. In addition, setting short- and long-term goals, establishing and utilizing a list of resources, and continual improvement are equally important. My personal plan for success is relatively simple. I will

Plan for Positive Influence

839 words - 4 pages Plan for Positive Influence Through various behavioral assessments employers can determine best practices to improve employee motivation, satisfaction, and performance. Measurement tools can include assessments of employee personality traits and characteristics, work behaviors and attitudes, and job involvement and satisfaction. By using the information gathered from these assessments, employers can develop comprehensive plans to improve

Final Plan For Collaboration

2652 words - 11 pages Final Plan for Collaboration Cassie Corona Capella University Introduction All schools have a vision or mission statement and this is what they strive to follow as far as what their goal is. My school is no different. To have a vision and action plan of collaboration is important. Having strong community-parent ties can ensure that students are learning and are successful. “When a

Related Essays

Riordan Manufacturing Strategic Plan Essay

2067 words - 9 pages Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan

Riordan Manufacturing Outsourcing Plan Essay

2851 words - 12 pages budgets. The cost of the proposed solution should be reasonable and the return of investment (ROI) should be attractive so that the Riordan Manufacturing Executive Committee approves the project. Implementation Plan The implementation of a financing and accounting software package is an important step in the Riordan Manufacturing outsourcing plan. Many factors go into properly implementing a new software package including company budgets

Riordan Manufacturing: Corporate Compliance Plan Essay

1238 words - 5 pages participate in all requested audits. All audits requests will be directed through the legal department. Product Liability According to Cheeseman (2010), "The liability of manufacturers, sellers, lessors, and others for injuries caused by defective products is commonly referred to as product liability. Riordan Manufacturing, Inc will be compliant with all product manufacturing regulations at the state and federal level. A quality assurance plan will

Riordan Manufacturing Management Change Plan Essay

1566 words - 7 pages Riordan Manufacturing Management Change Plan MGT 301 Section I: Change Management Plan Identify the current formal and informal power structures in the organization. How might the power and political structure of the organization affect employee behavior? The formal power structure in the organization consists of the top management staff run by the President & CEO, followed by the Executive Assistant, Senior VP-R&D, and the Chief