Disintermediation basically is removing the middleman. The term is a popular buzzword used to describe many Internet -based businesses that use the World Wide Web to sell products directly to customers rather than going through traditional retail channels. By eliminating the middlemen, companies can sell their products cheaper and faster. Many people believe that the Internet will revolutionize the way products are bought and sold, and disintermediation is the driving force behind this revolution.
THis is a good article regarding reintermediation:
http://www.computerworld.com/managem...,37824,00.html 
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