December 2001

E-Business

A new breed of e-commerce engine drives profits

For technology to be valuable to HPI players, it must give them the tools to make and execute the right decisions, rather than provide a faster means of making the wrong ones

The recent economic slowdown may have stopped some businesses from investing in Internet technology. However, the Internet's potential as a medium for improving business processes in companies both big and small has not been diminished. In the petroleum industry particularly-where millions of barrels of crude oil, intermediates and refined products are traded every day-the Internet appears to be the ideal medium for streamlining business processes. Through strategic use of Internet technology, petroleum industry players could save billions of dollars annually in supply chain operating costs, while improving their overall profit margins. Few in the petroleum industry have recog

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