Modern innovation is helping the oil industry to keep up with the competition by cutting costs , addressing safety concerns, and incorporating better data analytics to continually improve upon existing systems. As we face increased global uncertainty over the demand for oil as well as its price, digitalization and the introduction of new technologies will help the industry to tackle these challenges head-on. Supply chain costs have always been one of the oil and gas industries major costs, a cost that has been rising in recent years. Due to the complexity of the system, the use of third parties, and lack of digitalization, the significant inefficiencies in industry supply chains lead to greater costs and project delays. A 2017 Weforum report stated that the potential value of the digital transformation of the oil and gas industry could be as high as $2.5 trillion, if operation constraints are relaxed to […]