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Customer feedback - Learning from the fast food industry

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Customer feedback - Learning from the fast food industry

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Script 22Hello and welcome to Your Operations Solved, for Friday, May 21st , 2021I'm your host, Channing Norton, of PC Solutions, and this is the 22nd episode of our show,Listen to us Wednesday and Friday mornings at 9:30 Eastern, or on our bonus shows released on the 2nd Saturday of each month, at 2:30 PM. If you find the show helpful or informative, please do give it a like on your platform of choice, or share it to someone else who might also enjoy it.If you have a problem in your business you want solved, email us at Solutions@youroperationssolved.com, we may just feature your business on our bonus show as we tackle it to help you and others.With that out of the way, let's get started on today's headlinesFirst, an update to an existing story. We've talked a lot about the ongoing global semiconductor shortage on this show. Recent press releases by Cisco have given indication that, once again, the shortage is exceeding expectations, and not in a good way. Cisco confirms that, while they have successfully locked in their own supply and pricing, that capacity of their component manufacturers proves extremely limited. Cisco also cites an increase in demand as a factor worsening their existing issues. Cisco is seen as an important indicator in the computing market, as their hardware typically gets bought in advance of large business rollouts. As such Gartner has updated their predictions on the chip shortage, and now anticipate it stretching to the second quarter of 2022. Quite a few businesses are trying to buy early to get ahead of the anticipated further squeeze in prices. Meanwhile, elsewhere in the industry, AMD has announced a new line of computer processors that, uniquely, rather than focusing improvements on speed or power efficiency like any new release line in normal times, instead focuses on intercompatibility and ease of manufacture. They are betting that the higher yield rate that these chips may be able to offer them will be enough to get consumers to buy them for sake of being available. In short, AMD is betting that the shortage will last long enough for them to fully bring manufacturing of several new products on multi year cycles up to speed for manufacturing, with enough time left over to still make a profit over R&D costs. Regardless of how you look at it, the shortage is going to be going on for a bit.Now, onto our main story, GDPR Fines. This one is a bit more relevant for our European listeners, but any listeners in america or other regions that do any business or have any presence in an EU country are subject as well. For those not familiar, GDPR, or General Data Protection Regulation, is a broad regulation covering how companies handle personally identifying information for consumers. Among other things, it requires that EU citizens be able to opt out of data collection activities, be notified of them, things like that. The law is too comprehensive to cover in detail here, though if there's interest, I can certainly break down the implications. One snag of GDPR compliance is that it applies to EU citizen data, even when they are not physically located in the EU, so, functionally, if your company does business in the EU, or serves EU customers, even simply via selling products on the internet and shipping them into the EU or delivering them digitally, you have to be GDPR compliant. In practice, of course, if you aren't subject to EU jurisdiction, then, well, there's not a whole lot they can do to you. Next Tuesday marks the third year anniversary of GDPR being enforceable, and we see that, unlike data protection laws in the US, it's far from a slap in the wrist for violators. Collectively, all 28 EU countries, plus the UK have handed out well over 330 Million Euros, or 415 Million US Dollars in fines that we are aware of (not all fines are listed in public databases), with the largest going to google, at 50 Million euro for failures to observe GDPR principles in the design of the Android Mobile operating system, and the smallest fine amusingly ALSO going to google, at $28 for failing to fulfill an individual's request for an inventory of google's collected personal information on themselves in an acceptable timeframe.Regulators have been unafraid to go after entities as small as individual people, and as large as Google in their enforcement efforts, So, what does this mean for your business? Well, if you're subject to GDPR and EU jurisdiction, compliance is key, as the fines for noncompliance are getting more and more frequent (incidentally, if you want to check out the fine listings, Privacyaffairs.com keeps a record of every GDPR fine ever issued that's listed publically), so it's a matter of when, not if, noncompliant companies get fined. Nor is it simply one regulatory body you have to keep track of; GDPR is enforced individually by every individual country subject to it. So, how do we get in compliance? Well, the only way to know that you are in compliance is a thorough ...

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