Cathay Pacific to Save Cost by On-line BuyingThe Hong Kong-based Cathay Pacific Airways said Monday that it would adopt Internet procurement to save huge cost.Internet procurement is expected to help reduce the airline's total expenditure by more than 300 million HK dollars (38.5 million U.S. dollars) a year by 2003, with much of the saving coming from online purchasing and a substantial reduction in inventory carrying cost, said Greg Hughes, Cathay Pacific's general manager of airline purchasing. "This e-procurement initiative is one of Cathay Pacific's key e- business projects, part of a 2 billion HK dollars (256 million US dollars) investment over the next three years to further Cathay Pacific's position as Asia's leading e-business airline," he said. Cathay Pacific expects to conduct 35 percent to 50 percent of its purchasing over the internet within the next three years. The Oracle Corporation, the Internet software giant, provided Cathay with the Oracle Internet Procurement solution, which enables the airways' staff to connect directly to their suppliers via the Internet to enhance co-ordination, relationships and purchasing efficiency. |
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