Managing oil and gas asset life-cycle projects with private exchanges

In industries that deal in commodity-like trading, online buying and selling was the obvious initial value to be recognized. Click here to enlarge imageAs with other industry sectors, large public marketplaces have evolved to create efficiencies in the purchasing process. However, while the public marketplace model can and has worked well for maintenance, repair, and operations (MRO) or commodity-type products used across industries, it falls short when applied to the rest of the industry's business needs.It does not handle the complex and highly engineered services and products specific to the oil and gas industry.The public marketplace model largely ignores the collaborative commer...

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