Gap Analysis: Riordan Manufacturing

Gap analysis: Riordan Manufacturing's employee incentives and compensation are effective means of maintaining employees. If an employee gets motivated, that person's needs will be satisfied. If employees do not motivate, their needs will not be met and the turnover rate will be high. Riordan Manufacturing has experienced high churn rates. Riordan Manufacturing has three factories with 550 employees.

The solution to the problem: Riordan Manufacturing Riordan Manufacturing is a global plastic manufacturer with approximately 550 employees. Over the past few months sales in the manufacturing industry have declined and employee turnover rates have increased. In this article we will brainstorm ideas to maintain customers, review solutions to win new customers, and deal with employee consolidation issues. Communication will be key to the outcome of both problems. Situation Analysis Questions and Opportunities Identification Alternatives and Solutions Alternative Problems 5-1 A. (Complicated interest relationship) How much investment will accumulate as follows? It is one. Investing $ 11,000, an increase of 9% b per year in 11 years. 10% investment at 8%, 8,000 USD per year. Invest 12 years for $ 800, 12% compound annual rate per year. Investment 6 years Compound of 21,000 dollars, 5%, 5-2 A per year. How can we solve the complex value of n years?

Riordan Manufacturing is a worldwide plastic manufacturer with 550 employees with annual gross income of $ 46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenue in excess of $ 10 billion (Riordan Manufacturing, 2013). Plastics manufactured by Riordan include beverage containers, custom plastic parts, plastic fans manufactured at three different factories in Albany, Georgia, Pontiac, Michigan, China Hangzhou. Their company is headquartered in San Jose, California, where research and development takes place. Riordan's customers include automotive parts manufacturers, aircraft manufacturers, defense, beverage makers and fillers, and consumer electronics manufacturers.

Riordan Manufacturing Incorporation was reborn as a result of Riordan Plastics founded in 1991 by Dr. Riordan under the research and development of commercial applications in polymer processing. Riordan Manufacturing is fully owned by Riordan Industries. Riordan Industries has earned over $ 1 billion in revenue and entered the Fortune 1000 enterprise market. The transformation in 1992 was accomplished by venture capital acquired by Dr. Riordan. Riordan was originally a manufacturer of plastic fan parts for the automotive industry. In 1993, the company acquired a beverage container manufacturing facility located in Albany, Georgia, and expanded to the industry. In 2000, the company began a joint venture in China, then transferred the entire wind turbine manufacturing industry from Michigan State to China.