Riordan Manufacturing, Incorporated
Riordan Manufacturing’s success is due to their industry-leading plastic molding. Riordan creates plastic products ranging from plastic bottles and fans to heart valves and medical stents. The company was founded by Dr. Riordan, a professor of chemistry, in 1991. Under the name of Riordan Plastics, Inc. the company’s initial focus was the research and development of their original plastic products. In 1992, Dr. Riordan purchased a fan manufacturing plant in Pontiac, Michigan which was a stepping stone to the 1993 expansion into the production of plastic beverage containers. Since the changing of the company name to Riordan Manufacturing, Inc. in late 1992, success has followed each expansion they have made. Today, Riordan is a Fortune 1000 enterprise company with revenues in excess of one billion dollars.
Business Problems
Departments and locations have problems with the consolidation of data and have no central database for all services and locations. Three different locations are all running different finance and accounting applications, inventory is done manually, and the system is updated only once a day during both receiving and production process. The way the finance and accounting systems currently work requires time to merge data. The data-merging time leads up to 15 days of work for consolidating information between the three applications at the end of the month. The inventory system does not allow for information updates and can cause inventory to run out or be misrepresented as it allows too much room for human error.
Current Systems and Processes: Finance and Accounting
Riordan Manufacturing currently uses three different systems for finance an ...