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Riordan Essay

1165 words - 5 pages

AbstractThe objective of this paper to explain the up and coming changes that is to transpire. Riordan Manufacturing wants to make improve and cut the cost of producing electric fans. Also it will eliminate current problems the company has producing. They will discuss strategic capacity planning, lean production, and supply chain process that will enhance the company. Riordan will also work on the relationship it has with vendors. If Riordan tighten up its game then other companies will not stand a chance against them.Production Plan for Riordan ManufacturingRiordan Manufacturing, owned by Riordan Industries, is a plastic injection molding company. The company manufactures products such as plastic bottles, heart valves, medical stents, and fans. This report will evaluate production plan for the fans produced at Riordan Manufacturing. The plan includes developing a strategic capacity planning by eliminating bottlenecks and utilizing the JIT system. The lean production section discusses how establishing a workflow process with enhance production. The last section of the plan analyzes the current supply chain process for the electric fans and revises the plan to ensure effective supply and demand will increase sales.Currently, Riordan Manufacturing has not developed a successful strategic plan. In order for the company to establish a strategic capacity plan, Riordan must have an adequate strategic plan. The company should eliminate the bottlenecks within the company which are its inventory and suppliers. Riordan should reduce the cost of raw material within China and use the just in time method, so that the materials will be delivered in a timely fashion. , JIT does an excellent job in reducing lead times and work in process and require a stable production level. Furthermore, Riordan should invest in establishing vendors within the company's territory.Strategic capacity is most frequently viewed as the amount of output that a system is capable of achieving over a specific period of time. Before performing capacity planning Riordan Manufacturing must review the electric fans inputs and outputs because capacity is based on overall production. The purpose of strategic capacity planning is to provide a method for establishing an overall capacity level of capital-intensive resources such as equipment, facilities, and the overall labor force, which best supports the company's long-range competitive strategy.The capacity level has a decisive impact on the firm's response rate, inventory policy, cost structure, and its staff and management requirements. When a company's capacity is not adequate, a company may lose customers due to a lack of service or by allowing competitors to enter the market. According to Aquilano, Chase, and Jacob, if capacity is excessive, a company may have to reduce prices to stimulate demand; underutilize its workforce; carry excess inventory; or seek additional, less profitable products to stay in business.Lean production is...

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