Payment gateways and processors are what make the magic happen – at least on the consumer’s end. To understand how these technologies work, you’ll have to learn what’s going on behind the scenes of this intricate financial dance.
OCTOBER 3, 2020
In the 1990s Toyota’s principles of production equipment became “simple, slim, and flexible,” which some people might interpret as “go slow and be cautious in adopting new technology.” In today’s age of lightning speed in the digital world, Jeff Liker’s new book, The Toyota Way (Oct., 2020) says that would be a mistake. His message is: “adapt technology that supports your people and processes.” Where are real needs that technology can address to help achieve corporate goals? This is a question of pulling technology based on the opportunity, instead of pushing the technology because it is the latest fad. The key issue, writes Liker, is to avoid the temptation to buy and implement the latest gee-whiz digital tools, and instead to thoughtfully integrate technology with highly developed people and processes.
Intel’s semiconductor production hit a stumbling block in March. A chip plant in Arizona needed work done, but the engineer for the job was stuck in Germany because of coronavirus flight restrictions. If Intel couldn’t recalibrate existing machines and install new ones, America’s largest chip maker faced a production slowdown just when demand was surging as PCs and the cloud became critical to facilitate remote work.