Chapter 14 Bayesian Machine Learning Approach for Evaluating the Effectiveness of an Order Fulfillment Reengineering Project in the Downstream Oil and Gas Supply Chain
İstanbul University, Turkey
14.1 Introduction
Oil and gas is a highly mature industry in terms of product life cycles (Nordal & El-Thalji, 2021). In the downstream segment, the marketplaces bring about intense competition over standardized products. Globally, the recent drastic crises of the COVID-19 pandemic and the Russian-Ukraine war aggravate the uncertainty of prices. After the Russian-Ukraine war outbreak on February 24, the Brent oil price exceeded $120 in March 2022, compared to the $20 level that it dropped below in ...
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