Riordan Mfg. Strategic Plan Development

1023 words - 5 pages

Riordan Manufacturing, Inc is a leader in the field of injection molding, and plastics. Riordan operates state-of-the art design facilities able to create innovative plastic designs that have earned the company international acclaim. Currently Riordan is a Fortune 1000 enterprise, operating in three United States location as well as Hangzhou, China. (Apollo Group, Inc., 2004) The following discussion will review Riordan Manufacturing's Mission, vision, and strategic objectives. The current operating status of Riordan Manufacturing and the role of Total Quality Management (TQM) on Riordan's strategic objectives will be identified. As well as the impacts of globalization on Riordan's posit ...view middle of the document...

Many companies think they are implementing TQM but the strategic objectives are, market share, profitability and return on investment. Often companies do not understand that these metrics are only outcomes. In order to achieve the expected outcomes, the root cause must be identified and satisfied. The bottom-line is customer satisfaction. Simply stated, satisfying the customer keeps them coming back. Therefore, the focus of TQM is total customer satisfaction. Based on Riordan's mission statement they understand the importance of adopting TQM philosophy. They do have profitability as an objective. However, the last bullet point on the list. Their main focus is continuous improvement and customer satisfaction.Globalization has impacted Riordan's by intensifying the companies need for a sound Total Quality Management (TQM) plan. Two of the key elements of TQM are, looking for ways to maintain continuous improvements, while maintaining a "lean manufacturing process."Continuous improvement is the ability to recognize opportunities in the operation or process that can be improved upon to strengthen the operation. The continuous improvement process is a never ending process of taking advantage of new technology, information, or other means to maintain an ever improving the process. When reaching out to the global market the continuous improvement process is strained and put to the test as the competition raises so does the pace of continuous improvement. During the process of continuous improvement Riordan must remain a low cost producer of plastics to remain competitive in the global marketplace. The way to achieve that goal is through lean manufacturing. Lean manufacturing, in its simplest term, is the ability to produce a product without adding additional cost. Cost that is added to the production process that does not add value is waste and has a negative effect on the bottom line. Knowing that 100% value added is most likely impossible, and waste will be in the process, the process of examining the operation through the mindset of continuous improvement and driving the organization to be lean is the key (L...


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