Outsourcing could result in potential cost savings, organization-wide consistent reporting, and increased focus on strategic activities. Riordan has sporadic training and development opportunities which are not conducive to developing and maintaining quality employees.
Virtual Organizations, Riordan Manufacturing, Inc. The benefits of outsourcing for small businesses. E-business is used to increase productivity and efficiency in sales and marketing, to strengthen customer relationships and to help in the export of its products globally.
Income and Balance sheet is delayed by three weeks. Cost savings, process efficiencies, and better resource management have been designated positives in the decision to offshore outsource finance and accounting.
By outsourcing, Riordan would be revealing all the financial details to the other firms. This allows for more money and energy to be focused on core business strategies.
This is a strategic decision to spur innovation, develop new products, and explore new markets. Establishing the performance measures will be the next step in this journey. The time difference will make it convenient for customers to receive orders quickly and increase overall productivity for Riordan.
The Future of Outsourcing. Executive Summary Riordan Manufacturing, Inc. The milestones deliverables of the project are the significant events that identify each of the important control points used Riordan manufacturing outsourcing plan measure the progress of the project.
Taking advantage of this market opportunity can improve business processes and workflow that will create lower cost and cheaper labor. The IT steering committee will be charged with managing the project, communicating with stakeholders, and selecting a data warehousing company with proven ability to provide hosting of custom software as well as the capability to maintain a consistent uptime and perform reliable backups of vital information.
Finally, working with foreign countries presents cultural barriers and challenges with foreign laws and regulations. Riordan has many directions it can take to address these issues, and the process. To manage such a large, detailed, and mission-critical project, the project milestone and task management tool will be Microsoft Project.
To address these risks, a contract is drawn binding both parties for securing any rights, defining inclusion of legal claims, ownership of codes and retain of resources if it is human, software, and hardware upon termination of contract.
This project plan has been developed to identify expected project outcomes, however; when a project is initially considered, there are many uncertainties in both the expected benefits and the estimated risks. The tasks are the sub deliverables necessary to accomplish the deliverables.
Using an offshore vendor as a cost saving advantage to stay ahead of the competion is not without threats and therefore both the advantages and disadvantages need to be weighed carefully. Cost constraints that Riordan can endure come from many bugs that may occur from outsourcing their products.
There are different sources of data such as data files, hardcopy reports where some data needs to be re-entered.
Riordan usually spends days to complete financial reports after the month ends, but outsourcing can reduce this time because of the specialized departments. CEO Riordan has always thought he was offering competitive pay, however in the last few months, he has come to believe that may not be the case.
Using an offshore vendor as a cost saving advantage to stay ahead of the competion is not without threats and therefore both the advantages and disadvantages need to be weighed carefully. Riordan understands that legal and regulatory protection is required, the cultural differences of the customers must be understood, and they must find solutions for incorporating preferences and e-business restrictions and protection to support their stockholders.
An International Reference on Effective Relationship. Globalization is one of the main reasons that lead a company to outsource. Information Systems Management, 26 4pp.
Research has been conducted by a team to identify the pros and cons associated with technology outsourcing projects. Specific technological standards must be agreed upon during the vendor selection process, so that both the host country and Riordan are having the same understanding in all aspects of their business relationship.
The IT functionalities that will be outsourced are: The systems are poorly implemented. Cost constraints that Riordan can endure come from many bugs that may occur from outsourcing their products.
Corporate receives data in multiple forms requiring file conversions, re-entry, and re-coding that is inefficient and wastes resources.Financial Systems offshore Outsourcing Project Plan for Riordan Manufacturing, Inc.
This Case Study Financial Systems offshore Outsourcing Project Plan for Riordan Manufacturing, Inc. and other 64,+ term papers, college essay examples and free essays are available now on fmgm2018.com Financial Systems Offshore Outsourcing Project Plan for Riordan Manufacturing, Inc.
Financial Systems Offshore Outsourcing Project Plan for Riordan Manufacturing, Inc. Table of Contents Executive 3, Words | 13 Pages. Why America Should Not Practice offshore Outsourcing. /5(1). Finally, the last major disadvantage Riordan Manufacturing faces with this offshore outsourcing project is the potential impact of the political environment between both the United States in addition to China.
View Essay - Outsourcing+Plan from INFO TECH at University of Phoenix. Outsourcing Plan Dr. Riordan founded Riordan Manufacturing in The company started out as Riordan Plastics. It focused. This paper will discuss an offshore outsourcing plan for Riordan Manufacturing that will decrease cost and increase productivity.
Riordan has decided to use a new strategy for the company that is offshore outsourcing. This is a strategic decision to spur innovation. Financial Systems Offshore Outsourcing Project Plan for Riordan Manufacturing, Inc.
Financial Systems Offshore Outsourcing Project Plan for Riordan Manufacturing, Inc. Table of Contents Executive 3, Words | 13 Pages/5(1).Download