Oil & Gas Industry The oil and gas industry has experienced distinctive procurement challenges over the past several years. In order to meet the high consumption rate, oil companies are constantly searching for greater value opportunities. Realities such as costly hydraulic fracturing (also known as ‘fracking’) methods and fluctuating gas prices have caused organizations to re-examine the importance of procurement for their bottom line. Additional challenges include the large scope of oil & gas projects, the geographic isolation of the fields, and the high level of risk generated from the exploratory nature of drilling. Combined, these difficulties can result in purchasing problems such as lost data, poor quality suppliers, and unclear employee responsibilities . This report w

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