ABSTRACT
Research into best practices in procurement, particularly in relation to managing the supply chain and relationship building, is of great importance when considering the cost implications of this aspect within the oil and natural gas industry. The factors that hinder its implementation are a major concern while addressing this issue. The external forces that influence this aspect of this niche industry include stakeholders, energy regulations, environmental concerns, as well as economic and political factors. This study aims to facilitate a deeper understanding of the implementation of the E-Procurement process within the industry and help formulate a strategy that would aid in its better implementation.
Chapter 1 INTRODUCTION
Procurement in the oil and gas industry refers not to the procurement of raw material itself, but most companies tend to extract it from the various onshore and offshore sites. Rathep, procurement refers to the process of purchasing capital goods, including the identification of suppliers as well as the steps involved in ordering or requesting service or goods. The transportation of the capital goods as well as finished products comes under the purview of the supply chain. Thus, the three important aspects that from part of the procurement process include the Supply chain itself, along with the technology being used and the inherent talents; the supply chain market in general, and the Supplier Relationship Management. The changes in business environment have led to significant changes in the purchasing process as well (Andersson and Norrman, 0), with manufacturers shifting their focus to supply chains as a means of cutting costs, improving deliveries, nd offering competitive prices (Bag, 2016).
In other words, procurement refers to the entire process of vendor sourcing, buying or purchasing, along with other internal procedures, like tendering and delivery of goods or services until reaching the financial payment (Vaidya and Campbell, 2014). In the oil and gas industry, procurement refers to the capital and transportation facilities of the extracted products or delivered services that need to be moved from the point of extraction to the processing point. Andersson and Norrman(2002) put forth strong evidence supporting the need for changes in the purchasing process. Chang, Tsaian and Hsu (2013) also support this argument, particularly with regard to the need to differentiate the future logistical needs of organizations. The process of automation and improvements in technology has resulted in the development of several software that help not only in planning business strategies, but also to analyze the performance of the organization in real time. The procurement model, including the supply chain, is usually a part of this package. This step has been an immense help in streamlining the entire business process and improving productivity (Kobayashi, Tam, Aki, and Komoda, 2003). Therefore, it is essential that organizations need to evaluate logistic needs based on business trends. Consideration of the macro picture would be extremely useful for businesses to analyze and understand the impact of new trends as well as practices on the entire purchasing processes (Andersson and Norrman, 2002). The change in procurement processes that would arise as a result of these changes would help organizations across industries and verticals by improving competitiveness while significantly eliminating bottlenecks.
E-procurement, as the word sug, refers to using the internet to identify the sources from which the organization may purchase the required material(s) that would be needed as part of the procurement process. Effective and efficient supply chain practices are essential to maintain a balance between the various players (Ndolo and Njagi, 2016). The major benefit of this approach to procurement would be the easy availability of pr, as the procurement may be done from across the world, thus ensuring the best quality materials for the same or lesser price as opposed to current procurement methods. The primary challenge in the implementation of E-Procurement methods would be opposition from the various departments regards the new methods, as they would feel intimidated and redundant after implementation of the new system. Additionally, external stakeholders like the vendors would also be impacted bythisi,s change as organizations would gravitate towards those vendors who offer competitive prices as opposed to retaining vendors merely due to a longer period of interaction with them. Based on this rationale, it can be easily observed that cost and quality would decision-making ratlong-termlong term supplier relationships (Ndolo and Njagi, 2016). The story of the Nigerian oil and gas industry is an example of how the various factors can have a negative impact on the industry (Tsegha, 2013).
The very process of procurement, which had been relegated to the background, is now getting its due share of the limelight as the various information systems are integrating the purchasing process as a core component used to evaluate the performance of the organization s a whole (Ndolo and Njagi, 2016). The Oil and gas industry, by the very nature of its upstream and downstream processes, is seen to have been significantly impacted by the various changes being incorporated into the procurement process as a whole (Vaidya and Campbell, 2014). Bag (2016) also puts forth several arguments in manufacturers adopting flexibility in their procurement systems as a means of controlling costs. This approach would help ensure that production bottlenecks are avoided and that prices continue to remain competitive as the efficiency of production improves at a steady pace. These improvements would also impact the bottom line, thus contributing to profitability for the organization.
Studies on financial implications associated with changes in purchasing patterns and behavior show that any improvements in the effectiveness of supply chains directly translate to a similar improvement in the financial position of the business (Greer and Theuri, 2012). Thus, profitability is clearly linked to the improved efficiency of supply chains. Since the oil and gas industry uses both the up and downstream simultaneously, it would be appropriate to conclude that this industry has a higher dependency on the effectiveness of supply chains. The integration of supply chain activities is a core factor that influences the behavior of organizations across all verticals (Srinivasan and Swink, 2015), regardless of their size or geographical location. The organization’s integration with other external stakeholders, as well as internal dynamics, forms the backbone of the entire process. Comprehensive planning and implementation of management strategies formulated based on the feedback from various processes, as well as stakeholders, is perhaps the key component that helps determine organizational profitability in the long run, as this thinking leverages the information exchange between various entities that form the nexus within the organization (Vanpoucke, Vereecke, Cke and Muylle, 2017).
BACKGROUND
The Oil and Gas industry is highly dependent on efficient Supply chain management. However, there is tremendous scope for its improvement (Ndolo and Njagi, 2016) going forward. Although there have been several studies on the topic of procurement within the Oil and Gas Industry as well as improvements in Supply Chain Management, there have been few studies into the topic- e-procurement. Vanpoucke, Ver, Eeck, et al. Muylle 01) argue that although companies have increased the levels of information sharing with vendors and other partners within the supply chain, both upstream and downstream, this alone is no guarantee for success in streamlining the various associated processes. They state that the maximum benefits can be reaped only when combining this approach with various other strategies, like using local suppliers and supplies to improve efficiencies and cut costs (Warner, 2017).
In this age of shrinking borders and Global markets, an efficient and effective E-Procurement policy would be of immense help within the industry as it would help in cost control and management. This study on E-Procurement would address this gap in the studies relating to procurement within the Oil and Gas Industry. Sustainable practices in Supply Chain management are essential for the betterment of the industry as a whole. While much has been written on the topic, it still continues to lend itself to new interpretations based on technological advances as well as environmental concerns, and new regulations. The changes in the global economy also impact these practices significantly. This gap between current industry practices and business trends needs to be addressed for the betterment of the industry as a whole (Ahmad et al., 2016).
RESEARCH PROPOSAL
This study into the implementation of e-procurement, its benefits, and associated challenges is proposed as the author thinks that the Oil and Gas industry would greatly benefit from the proposed changes in the procurement process. E-Procurement would significantly help lower costs and improve the viability of various projects within the industry that have been shelved solely based on cost considerations.
AIM OF THE PROJECT
The researcher and the author of this report is employed in the oil and natural gas industry and undertakes work in the field and discipline of procurement. Hence, this project is based on the same topic with emphasis on e-procurement, so as to fulfill the industrial need to better understand the implementation of e-procurement. The author thinks that a broader implementation of E-Procurement is not only essential but also inevitable to ensure long-term benefits for organizations. By adopting this process across the industry, all companies would be able to capitalize on the advantage of sourcing the best possible materials within the same budget by making the best use of available technology like the internet (Raut, Narkhede, and Gardas, 2017). A systematic approach would be extremely useful in designing sustainable supply chains that would benefit the organization and improve its profitability (Medina-González et al., 2017). This initiative thus provides a larger market for the organization to source its purchases and helps cut down costs significantly, even after accounting for the changes in logistics costs, besides allowing the freedom of availing the latest technological advances, as the company is no longer bound by distance and logistics while making its purchase and tendering decisions.
OBJECTIVES
The study aims to look at the best practices for procurement in the Oil and Natural gas industry. This study gains importance as the concept of procurement in this niche industry varies significantly from procurement in other traditional industries. The impact on other industries may differ from the oil and gas industry due to the nature of the products and the processes involved. Unlike most other industries, the Oil and Gas industry works both upstream and downstream, and this peculiar behavior sets it apart from all other sectors, including other capital-intensive sectors. It is important to bear in mind that the main components of the Oil and Natural gas industry are extracted from various sites by the company, these are sold either in crude form or after processing to various vendors. Thus, the suppliers in this particular industry tend to veer more towards being suppliers of capital goods or those who provide services like transportation of the extracted natural gas and oil from the extraction site to the processing point (either own or vendors), construction of pipelines, extraction facilities, and so on.
Company procurement also depends on the existing legal framework and governmental policies. As these are not controllable and would not be easily measurable, they are not included in this study. Environmental concerns wh hile a significant factor in the Oil and Natural gas industry, are not a part of this study either.
Chapter 2 LITERATURE REVIEW
The dependence on the Oil and Natural gas industry is a matter of grave concern for the economic growth of all countries, be they producers or consumers of the product. (Ndolo and Njagi, 2016). The very nature of this dependence necessitates the need for efficient management of supply chains within the industry (Wan Ahmad et al., 2016). Proper management of the supply chain in the oil and gas industry is essential to streamline the costs associated with procurement (Cigolini et al., 2014), (Handfield, Primo and Oliveira, 2015). In fact, the prerequisites needed to be a part of the supply chain in the oil and gas industry include adherence to quality management practices, which need to be validated through various ISO certifications like the ISO 9001, 14001, and OHSAS18001 (Kadir et al., 2015). The literature studied on the subject of procurement was found to anchor itself exclusively on the mechanics of supply Chains, their management, and optimization. The same needed to be analyzed from the point of E-Procurement as well. The global economy presents its own challenges to the industry and needs to be analyzed as a part of E-Procurement as well. The advantages for the Oil and gas industry would be exponential, primarily due to its geographical diversity, ty and this would be the primary factor that guides this study into the process of E-Procurement in the industry.
While Frohlich (22) did suggest that the integration of an internet-based supply chain with stakeholders on both the downwards and upstream. He also analyzed the various barriers to the process of implementing an e-integration into the traditional procurement process, while trying to analyze the link between the performance of the business and e-integration. Frohlich was also able to identify the barriers to the proposed change as being internal factors rather than external stakeholders, thus forming the theoretical framework for this study on e-procurement. Studies on the oil and gas industry clearly indicate that creating and maintaining a sustainable supply chain is not possible without a deeper understanding of the supply chain mechanisms within the oil and gas industry (Ahma et al., 2016). Unlike other sectors, the Oil and Gas industry operates both upstream explorations and extraction processes (viz. the suppliers) as well as downstream (Refining and sales processes, viz. the customers). Robust supply chains are thus needed on both sides since the oil and gas sector as a whole is excessively dependent on efficient supply chain management (Frohlich 2002) to ensure timely inventories, Just-In-Time Management, and better inventory turns, to name just a few challenges that the industry faces daily.
An effective E-Procurement strategy would contribute significantly towards improving its global supply chain and thus play a prominent role in controlling costs and increasing profits across the board (Chima, 2011). Strategic sourcing is observed to have a positive impact on the Supply chain and its management. This is particularly true for vendor integration as well as maintaining a flexible procurement schedule (Bag, 2016). Although it would be safe to assume that each organization would base its approach on both its experience as well as the level of integration of its various processes, it would be safe to state that each company would be examining various processes to not just reduce costs but also bring about a significant improvement in its bottom line. It is this aspect that E-Procurement will be addressing. By addressing the benefits of supply chain management, this paper would help provide a method by which companies can formulate an effective and efficient E-Procurement strategy that would benefit the entire organization as well as all stakeholders (Ahmad et al., 2016; Frohlich, 2002). Every aspect of the supply chain and its management, including its mechanisms and the scope of improvement, needs to be understood in-depth for a better appreciation of the E-Procurement process and its need within the industry (Deshpande, 201,2), particularly when considering the changes in the procurement process as witnessed in capital-intensive industries. The impact of global markets on E-Procurement would form the foundation for this analysis, which would evaluate the efficiency of supply chains using the macro rather than taking a micro view of the situation. All current studies are lacking in an in-depth analysis of this fact (Ahmad et al., 2016). This work on the implementation of E-Procurement would lay the conceptual framework for future studies on the topic as well (Ahmad et al., 2016).
Theoretically speaking, procurements are the backbone of the oil and gas industry, a nd handling the various aspects is a highly complex process (Ahmad et al., 2016) as both upstream and downstream movements need to be considered. E-Procurement is expected to streamline the process and bring about a smooth operation of the various aspects, particularly within the supply chain (Frohlich, 2002). A conceptual framework coupled with a theoretical one would be extremely helpful in gaining a deeper understanding of the working of the oil and gas industry (Ahma et al., 2016). The traditional approach in procurement is relationship-oriented and is based on factors like authority, trust, and incentives that are combined to ensure long-termmm relationship (Kwon and Suh, 2005), (Gunasekharan, Patel, and McGaughey, 2004). E-procurement, on the other hand, would include cost as an important aspect of this combination to bring about an exponential and highly variable factor that would add to the volatility in the industry (Greer and Theuri, 2012). The direct and indirect costs in building a refining plant would only be instrumental in increasing overhead costs and eating into profit margins. Simultaneously, it would also bring about significant control within the supply chain since pricing would be a key player within the combination (Olsen et al., 2005). Understanding the working of the supply chain and its impact both forward anbackwardis nis eeded to ensure sustainable practices within the industry. The need of the Oil and Gas industry, and the current availability of various components needed for its smooth and efficient functionin ,r e the primary points that would be analyzed. The costs that are part of the procurement process are significantly reduced, bearing that in mmind. Instead ofbuilding a new refinery close to the extraction site, the new facilities are located in areas that would help improve leases while cutting costs.
The classical approach of procurement is based solely on the efficiency of supply chains (Chima, 2011). The oil and gas industry is large and widespread.ItsIts geographical diversity makes it difficult for any single company to hold the industry in a monopoly. In such a situation, the process of E-Procurement would be highly beneficial in controlling cost as the various needs and requirements of each organization may be met based on best value for money deals being Upstream, in the Oil and Gas industry refers to the exploration of oil and gas resources as well as its development and production, while the refining, sales and after sales activities come under the scope of the downstream activities in the oil and natural gas industry (Kadir et al., 2015). The upward and downward streams of the supply chain are equally benefited by an efficient supply chain management strategy that includes the application of the much-talked-about Uniform Commercial Code (Chima, 2011). The benefits of improvements in the supply chain would be felt across the industry as a whole rather than being limited to a specific company, organization, or area of operations. It is this aspect that would most benefit from indulging in research into the benefits of E-Procurement within the Oil and Gas industry. Interestingly, all three prominent aspects of the E-Procurement process, namely e-marketplaces, the management of e-catalogues,a ande-tendering have been studied in various forms and across various industries. All the studies assert to the fact that the impact of E-Procurement is not only significant but also positive as it helps the profitability and growth of the business (Vaidya and Campbell, 2014).
Factors that impact the sustainable growth of supply chain management and contribute towards improvement in its efficiency depend on various factors i,, including social obligations, environmental concerns, and economic factors (Ahmad et al., 2016). While an improvement in logistical systems would be a significant contributor, it alone would not suffice towards supply chain management since this niche industry operates both upstream and downstream practices (Wan Ahmad et al., 2016). Businesses need to respond to various aspects of their environment in order to improve their profitability (Ibisworld.com, 2017, and the Oil and gas industry is no exception to this rule. E-Procurement would be a significant contributor to this process, particularly as it tends to transcend both geographical as well as political boundaries (Ahmad et al., 2016), thereby helping to bring about a significant influence in the entire process. While all available studies focus on individual aspects of the supply chain, this study wwilllook at the macro aspect of the entire procurement process, including supply chain management (Ahmad et al., 2016). Thus, it is expected that this study into E-Procurement within the Oil and Gas industry would contribute significantly to the literature on the topic of procurement within the sector. The lack of geographical ties in the E-Procurement process would be an added adadvantage this same study can be extended across various diverse geographical locations. This argument would lead us to question the benefits that E-Procurement would bring about in the oil and gas industry.
IMPACT OF SUPPLY CHAIN MANAGEMENT ON PROCUREMENT PROCESS
The supply chain within the oil and gas industry comprises several highly specialized agencies or organizations that concentrate on specific aspects of either the upstream or downstream operations. E-Procurement if handled prproperlyy could be the touchstone that would improve the profitability of all stakeholders exponentially. The widespread geographical locations of the various suppliers would add to the advantage of many companies that operate within the industry and contribute towards enhancing wealth creation among all stakeholders while simultaneously reining in costs for end consumers. This situation, while seemingly a Utopian ddream, could easily translate into a reality through effective and standardized practices across the industry (Olsen et al., 2005), thus leading to the creation of a highly sustainable supply chain (Ahmad et al., 2016). Supply chain management has even been termed as a crossroad that can make or break an organization, even with highly successful industries and sustainability strategies need to consider this aspect while determining the feasibility of supply chains within the oil and gas sector (Ahmad et al., 2016).
E-PROCUREMENT: ADVANTAGES AND DISADVANTAGES
Researchers are also of the opinion that management preparedness is the key to ensuring the viability of any procurement process (Wan Ahmad et al., 2016).T he highly volatile nature of this niche industry has led to the higher dependence on supply chain relationship management. The underlying need to improve the efficiency of the supply chain is the primary factor that has influenced this aspect of the industry (Handfield, Primo, and Oliveira, 2015). Cost benefits can be easily passed down thechaini,n anhelplp in competitive pricing within the sector despite its geographical diversity. The dynamic nature of the supply chain is essential for the efficient flow of information, materials, and money across the various areas of the chain. This is necessary for ensuring that the chain continues to function smoothly and is not negatively impacted in any manner. (Saad, 2014). Therefore, an agile supply chain would help companies competitively price their prod ucts and this would in turn benefit the end consumer as well as improve the bottom line of the organization i tself, thereby creating a WIN-WIN situation all around (Yusuf et al., 2014). Thus, it would be apt to say that an efficient E-Procurement process would help lay the foundation for a more competitive pricing within the oil and gas industry as, a whol,e as each vertical reaps the benefits of cost reduction.
The present-day economy is highly dependent on the Oil and gas industry for economic growth. Social activities, as well as the growth of other industries, are intricately linked to the Oil and Gas industry (Ahmad et al., 2016). While there is much being said about exploring other sources for meeting energy requirements, the oil and gas industry continues to dominate the economic landscape of the world. The singlmost significant disadvantage would perhaps lie in the slowdown in economic growth and employment within the host country where the exploration site is located. This is due to the fact that businesses would cut back on building new plants for refining, and rather show a preference for moving the extracted oil to their existing sites,w hich may even be outside the country.
COST CONSIDERATIONS OF E-PROCUREMENT
Unfortunately, the various studies on the sustainable practices and management of supply chains have been negligent on the critical factor of pricing as well as its impact on relationship building within the various players in the supply chain. The internal factors that impact the effective functioning of supply chains and reduce their efficiency are also a major concern (Wan Ahmad et al., 2016). This study, therefore, would address this gap both in the upstream and downstream operations of companies within the industry. The functional areas that would be given high coverage in this study are supplier management, supplier chain and relationships, impact of prices on supply chains, and management of logistics. Since pricing is expected to play a key role, management strategies need to include this as part of the procurement process. The process of adopting innovative approaches is the key to improving profitabilityy and E-Procurement would be studied in this light to better understand its impact on the industry as a whole,le and companies must be encouraged in this practice (Wan Ahmad et al., 2016). The importance of effective supply chain management cannot be stressed enough while considering the various aspects of procurement and competitive ppricingas well as improvements in profitability (Yusuf et al., 2,014) and E-Procurement wbe ould a step in the right direction (Wan Ahmad et al., 2016).
MODULARISATION PROCEDURES WITHIN THE OIL AND GAS INDUSTRY
Globalization has been identified as the primary force that operates across all industrial markets. The dynamic nature of this force results not only in highly complex projects but also in shorter product life cycles, forcing firms to look towards newer methods for improving the efficiency of the organization as a whole (Kang and Moon, 201; Mancini et al., 2016). Modularization is a modern technique that is successfully and frequently used within the oil and gas industry as part of the strategy to meet the new challenges faced across the industry (Baxter, 2005; Bondi et al., 2016). A structured decision-making process is used in facets like supply chain, electrical design of the plant (Parra and Bono, 2016), and so on. This approach has been instrumental in allowing the sector to face several challenges in the supply chain whilbringingng about a substantial reduction in both project cost as well as delivery time. The profits firm adopting this techniqaretwo-prongednged as it helps reduce costs by reducing delivery time and streamlining the supply chain while successfully allowing for expansion into unconventional geographical locations that tend to hinderthe construction of refineries for extracted oil and gas (Bondi et al., 2017).
MODULARIZATION AND EFFICIENCY
The sector has thus been able to use this technique to improve its efficiency by splitting the entire process of exploration, extraction, refining, and supply of finished goods into different modules that are located at different geographical locations based on viability. An effective supply chain mechanism has been able to do away with delayss in movement from one location to the other, thereby significantly cutting operational costs and improving the efficiency of the organization as a whole (Mancini et al., 2016).
Although the modular approach is not limited to the oil and gas industry, it is among those industries that have significantly improvetheirts efficiency by adopting this technique, particularly to streamline itheirsupply chain by exporting site-based work to more viable locations (Mancini et al., 2016). In fact, it has been observed that modularization procedures have been instrumental in bringing about significant savings in the oil and gas industry (Bedair, 2014), although this alone would not suffice for substantial improvements in the bottom line. Handfield, Prim,o and Oliveia, (2015).
VALUE ADDITION TO THE SUPPLY CHAIN
It has also been increasingly observed that the success or failure of a project is largely dependent on the value addition from supply chains and its impact on the costing of the projec,t as well as risk mitigation. Bedair (2014) also supports this rationale when he extends the linofto thinking to state that it may be perhaps due to the lack of efficient industrial policy on modularization or due to other factors like environmental concerns or changes in regulations, both of which are beyond the scope of this study. However, it would also be interesting to note that all stakeholders, including clients, investors, contractors, sponsors, and communitie,s are benefited directly or indirectly as a result of effective supply chain management (Handfield, Primo and Oliveira, 2015). Effective supply chain management would also contribute towards ensuring that the environmental concerns are effectively addressed (Raut, Narkhe,de and Gardas, 2017), although this aspect remains outside the purview of this study.
CHALLENGES BEFORE THE OIL AND GAS INDUSTRY
Faced with the challenging task of not only achievng, but also the maintenance of competitive pricing, the various companies within the industry have shown a marked preference for streamlininf the supply chain (Medina-González et al., 2017). Considerable literature focuses on specific regions like America, the Middle East,, or African countries like Ghana. However, the process of E-Procurement has not been addressed anywhere in this sea of literature. It is an acceptefactce across the industry that the overall performance and profitability of any company within this sector is dependent on the performance and optimization of the supply chain. Therefore, all present andfuturec models for the industry, particularly in procuremen,t must be based on optimization othe f the supply chain, both upstream and downstream (Olsen et al., 2005). The usefulness of this study on the topic of E-Procurement would be its application across geographically diverse locationswheret the sector operatin. Additionally, the industry would stand to garner the benefits of better pricing for each component since E-Procurement is based on sourcing the various needs from sources that can provide competitive prices. This strategy is being effectively used in various other industries, including textiles, consumer good,s and so ,on to name just a few. Tcapital-intensiveive, oil and gas industry would benefit significantly as the various components that it sources do not have a short shelf life and can be procured from various locations, shipped to the required location, and then used as required. This approach is highly beneficial if it can contribute to significant cost cut,s as is expected in the oil and gas industry.
While discussions on newer models for supply chains that would be beneficial even under highly volatile conditions (Arampantzi and Minis, 2017), as is evidenced within the oil and gas industry, there are other who feel that improving the supply chain through a more flexible approach would suffice to meet the new challenges being posed before the industry (Mangla, Kumar and Barua, 2014). It would be accurate to state that effective management of information systems is a critical component of a dynamic supply chain. While assessing the challenges of global markets, the need for information sharing across both upstream and downstream operations is seen to be essential in ensuring an improved efficiency in supply chains (Busse, Meinlschmi,dt and Foerstl, 2016). An integrated approach across all verticals would be helpful in better understanding the dynamics of supply chains within this niche industry, thereby helping the sector face the challenges presented by global markets. (Medina-González et al., 2017), (Mota et al., 2017).
SUMMARY
Although the literature review undertaken fof this study has been significant,, therl remains a considerable scope for further research in various aspects of the operations of the industry as a whole. Oftentimes, the adherence to traditional practices and the refusal to shift to newer processes have been a hindrance to the effective functioning of the industry. Although technological advances are easily adopted in the refining process, the procurement process is still seen to follow age-old practices. While E-Procurement is easily accepted in several sector,s the widespread oil and gas industry is yet to consider this option on a wider sca,le and hence the benefits of this approach are yet to be availed by the sector as a whole. The ramifications of E-Procurement would be felt across all verticals within the industry. Furthermore, the advantages of global markets would seep into the costing of the end prod,uct and this would be highly beneficial for consumer states that are heavily dependent on imports of oil and gas to meet domestic requirements.
Each of the internal factors that form part of the procurement process has been a matter of grave concern for the industry (Wan Ahmad et al., 2016). This would be significantly reduced following the successful implementation of E-Procure,ment as several processes can be easily automated by setting re-order levels that would be automatically triggered when the requirements hot pre-defined levels. Thus, it would be apt to argue that E-Procurement also has the potential to significantly reduce human error as well as dependence on human variables to ensure adequate supplies for production needs. The responsthe e of supply chain under volatile demand conditions forms the basis of what You and Grossmann (2008) speak of tas he uncertainty in demand and its impact on the organizational performance based on the functioning of its supply chain.
E-Procurement decisions would be based on costs, Greer and Theuri (2012). Thus, cost would gain importance in the procurement costing as it would not only bring about a significant increase the volatility of the oil and gas industry, but also play a key role in controlling the movement of goods and services within the industry (Olsen et al., 2005), (Huo,, Flynn, and Zhao, 2017), as well as determining the profit margin of the business. E-procurement would be a positive step towards cutting production costs as well as overheads, thus improving the profit share of the compan,y as well as allowing for more competitive pricing. Since this aspect has not been addressed in previous studies, but would be a key component going forward, it is expected that inter-firm governance and thus supply chain management would be positively impacted through e-procurement. Wan Ahmd, et a ( 2016) clearly state tthat he oil and gas industry must commit itself to sustainable practices in supply chain management. Greer and Theuri (2012) speak of the link between a robust Supply Chain, its effective management, and the Financial Performance of the business (Giannakis, 2007; Presutti, 2003). Huo (2012) ,in his study on the impact of supply chain integration on company performance,, also puts forth strong views that endorse the findings of both Giannaks, and Presutt., This study, being undertaken on E-Procuremen,t would provide a continuation of this discussion while continuing to focus on e-procurement. The response othe f supply chain under volatile demand conditions forms the basis of which You and Grossmann (2008), while Mangla, Kuma,r and Barua (2014) extend thdiscussionns to analyze the need for a more flexible approac,h as also advocated by Bag (2016). Arampantzi and Min, (2017) discuss newer models for supply chains, yet the discussions do not extend to E-Procurement within the oil and gas industry ,and this is the gap this study shall bridge.
RESEARCH QUESTION
The research questions listed below stem from the literature review. The gist of the arguments that led the author to arrive at these questions may be read from the summary of the literature review.
1. What is the need for E-Procurement within the Oil and Gas Industry?
2. How would E-Procurement benefit the Oil and gas industry?
3. Would the impact of E-Procurement be direct or indirect vis-à-vis the Oil and Natural Gas industry, particularly withregards to the cost factor?
Chapter 3 METHODOLOGY
The study is an empirical study that would be based on secondary data sources. Secondary data is data that’s already been collected and recorded by another researcher. The key to successfully using secondary data is to use reliable sources. The sources used for this study are highly authentic and accurate. Furthermore, the data used would be limited to the5-yearr time period 2012-2017 for strengthening the arguments as well as improving the relevance of this study. While there is abundant literature on supply chains and their dynamics as well as the need to improve their efficiencies through techniques like modularization, making the systems more flexible and adopting a more systematic approach that includes information sharing across various verticals, there remains a gap in academic works that looks at combining the impact of costs with optimizing the performance of the upward and downward streams within the oil and gas industry. The data sources are carefully selected based on these requirements (Johnston, 2017).
Technological advances have led to vast amounts of data that havee been collected, compiled, and archived, and that is now easily accessible for research. As a result, utilizing existing data for research is becoming more prevalent,, and therefore secondary data analysis. While secondary analysis is flexible and can be utilized in several ways, it is also an empirical exercise and a systematic method with procedural and evaluative steps, just as in collecting and evaluating primary data. This paper asserts that secondary data analysis is a viable method to utilize in the process of inquiry when a systematic procedure is followed and presents an illustrative research application utilizing secondary data analysis in library and information science research (Johnston, 2017).
In conducting any research, the area of investigation and the research questions determine the method that the researcher follows. The research method consists of how the researcher collects, analyzes, and interprets the data in the study. Secondary analysis is a systematic method with procedural and evaluative stepsThisis paper proposes a process that begins with the development of the research questions, then the identification of the dataset, and thorough evaluation of the dataset. The key to secondary data analysis is to apply theoretical knowledge and conceptual skills to utilize existing data to address the research questions. Hence, the first step in this study is to develop the research questions. Along with an in-depth literature review of the areas of interest by various academicians, several academic literatures were used towards this purpose. Through the literature review, other researchers on this topic were identified, as were agencies and research centers that have conducted related studies. Recent research and findings have also been identified, considere,d and reviewed for purposes of this study. The key to using existing survey data effectively to find meaningful answers is a good fit between the research question and the dataset. By ensuring th this data would adequately address the research questions, the use of secondary data collection wa deemed appropriately suited for this research ,,and the decision was made to utilize existing survey dat to find the answers to different research questions than were asked as part of the research. Some of the questions that any researcher expecting to use secondary sources need to address includes what was the purpose of the study from which the secondary data is being trapped, the process of data collected as well as its accuracy and validity, the time at which the information was collected and its relevance to the study on hand, the method of using the available data towards addressing the research questions being asked In this study and the consistency of the data source from which he dataset has been used (Johnston, 2017).
ADVANTAGES AND LIMITATIONS OF USING SECONDARY RESEARCH
Empirical studies in business ethics tend to rely on self-reported data, but this reliance is open to criticism. Responses to questionnaires and interviews may be influenced by the subjective view of the respondents and also by what the researcher might want to hear. There may also be a reluctance to talk about sensitive ethical issues, as well as the possibility of imperfection in recalling the details of information being provided. The high emphasis and reliance on interviews and questionnaires often lleadto an avalanche of incorrect data that would corrupt the entire study. This is one of the reasons that hahasropromptede author to use reliable and authentic secondary data, such as company documents and newspaper reports, as a source for empirical evaluation of the research questions (Harris, 2001). Secondary research avoids the all-too-tiring efforts usually involved with primary research. Like recruiting your participants, choosing and preparing your measures, and spending days (or months) collecting your data.
Secondary data istime-savingg, easily accessible, and less expensive. Since the data used has been collected professionally, the possibility of flaws tends to be minimal. Howeve,r as the data may have been collected for othepurposesse, it would be extens,ive and the data would need to be narrowed down to focus on the research questions. Further,more the data would be in a different format as its tabulation is not designed with the author’s research questions in mind. Follow-up questions as welthe l as collection of additional information are both ruled out in case of secondary data. Since multiple secondary sources are used, the underlying fear of incomplete or insufficient data remains. Ensuring a match between the research question and the existing data and following a process, as proposed, for careful critical evaluation of the data, can avoid most limitations of secondary data analysis. As the availability of huge amounts of data that have been validated and tabulated by researcher, increases, the practicality of using it for this study is felt to be sufficient cause to prefer secondary data collection as opposed to primary (Johnston, 2017).
DATA SOURCES
Secondary data analysis offers methodological benefits and can contribute to research by generating new knowledge by offering an alternate perspective. The author believes that researchers should take advantage of the high-quality data that are available and consider the potential value in gaining knowledge and giving insight into an important facet of the working of the oil and gas industry and the issues that hinder its growth. By successfully utilizing secondary data analysis method through a systematic process that acknowledges challenges of utilizing existing data and addresses the distinct characteristics of secondary analysis, the proposed process addresses the gap in the literature on the topic. The systematic application of empirical evaluation helped ensure that the study provides a fresh insight into the workings of the industry. In a timewhene the large amounts of data being collected, compiled, and archived by researchers all over the world are now more easily accessible, the time has definitely come for secondary data analysis as a viable method of research.
This study would be completely based on secondary data collected from highly authentic sources. The data so obtained would be deemed to be highly accurate based on its origins. The secondary data would pertain to the time period from 2012-2017 to ensure that this study is relevant to the present-day Oil and Natural Gas industry. Time constraints are a primary reason for using secondary sources. The use of primary data collection methods would mean that a considerable amount of time would have to be spent not just in collecting and tabulating the data, but also in its authentication. By using highly accurate and pre-authenticated secondary data, we are doing away with this aspect of the project that may even lead to an inaccurate analysis if the data is not as accurate as assumed.
LIMITATIONS
The study is limited to the procurement process as follows in a purely capitalistic economy where the forces of demand and supply would determine the cost of the product. The ground reality ,however,, tends to differ as there is no idealisticlaissez-fairee economy. The final choice would thus not be influenced by governmental policies or environmental concerns. Furthermore, secondary data is used for the purpose of this study as the collection, tabulation,, and authentication of primary data would not only be time-consuming, but also increase the chances of errors in analysis. Additionally, fa ew articles talk about the procurement of the oil and gas industry alone, merely addressing the topic in passing. This study would,, howev,er focus on E-Procurement and supply chains.
SCOPE FOR FUTURE STUDIES
While the randomness in designing modularization procedurisare also beyond the scope of this study, the topic may be considered for future studies as it is also a prominent factor that would help make a significant contribution towards improving the profitability of companies within the oil and gas industry by maximizing project savings (Bedair, 2014). Therefore, following a review of concepts of supply chains, their e-integrati,on and the implementation of e-procurement across the system, research questions for the impending secondary research are as follows:
RQ1. What would be the economic impact of e-procurement?
RQ2. How can e-procurement help in maximizing the benefits from economies of scale?
GANTT CHART
Gantt charts are bchartsart that illustrate the start and finish dates of the terminal elements and summary elements of a project. These charts are extremely useful for visualizing the behavior of various scenarios. The structured approach used in this method helps in keeping track of meetings as well as the progress of the projatt in hand.
Chapter 4 OBSERVATIONS
Due to the advance in global manufacturing, the decentralized optimization of multi-tier supply chains for multiple retailers and manufacturers becomes more and more important. Conventional procurement models tend to take a back seat as newer and more profitable options are explored by all organizations. However, the situations for decision-making in decentralized supply chains are subject to change with respect to time periods. In this study, the optimization of multi-period bi-level supply chains under demand uncertainty is addressed with special reference to the E-Procurement process. The decentralized supply chain planning problem is considered under demand uncertainty that is characteristic of the industry. (Nishi and Yoshida, 2016)
The advantages of using a multi-level, multi-product, multi-region supply chain under demand uncertainty are analyzed and studied to gather an understanding of the industry. It is highly crucial to design a supply chain in a way that determines to what extent each level should direct orders to the next level and, in cases where several next levels exist, which next level should be selected for such transmission of orders. The main significance of the proposed model is to choose an appropriate region for order placement and also investigate when a level in a specific region is disrupted, what happens to the other levels in other regions. Als,,o the main impact of this articpertainsing to managerial decisions,considerings the implications due to supply chain shutdown disruption o,r change, as well as the steps to be undertaken to avoid such a situation. All possible actions under various scenarios like normal conditions, oscillating demands, variations in price, changes in costs, and a combination of these variations,, which may vary depending on changes ie how orders are placed, are used forthe purpose of evaluation (Langroodi and Amiri, 2016).
Chapter 5 RESULTS AND DISCUSSION
As a result of the study, several interesting points have come to the fore. These include the depiction of issues and data crucial for sustainable supply chain management. The use of comprehensive analytical tools has aided the process of decision-making in sustainable supply chain management through a structured planning approach for data acquisition. The study of extensive literature for the evaluation of sustainability initiatives brought about the possibility of E-Procurement within the oil and gas industry ,as well as its benefits for both upstream and downstream functioning within the sector.
Like all other industries, the oil and gas sector also faces a new set of challenges within decision-making following globalization. Unfortunately, guidelines supporting comprehensive analysis, especially concerning the evaluation of environmental and social performance of decision alternatives, are missing. This hinders the advancements in corporate sustainability. Questions arise on how to measure and balance respective indicators with traditional economic objectives to ensure exponential growth within the industry. To address this gap, this research aims to develop a holistic planning framework for advancing sustainability along supply chains by identifying sustainability issues and indicators as well as decision-support methods through an in-depth study of relevant academic literature on sustainable supply chain management and sustainability initiatives. The ffindingsgo through the process of identification of problems, and the evaluation of possible alternatives before arriving at a sustainable supply chain management method that is both cost-effective as well as reduces the lead time considerably to ensure a trade-off between profitability and efficiency. The research thus contributes to the research field by providing a structured integration of concepts and methods for improvements in the procurement process ,,thus contributing to the value chain (Stindt, D., 2017)
This study empirically evaluates the effect of E-Procurement on resources and/the capabilities of sustainable supply management to ensure a consistent performance across the industr . It is observed that strategic purchasing is a firm-specific capability and resource that aisfundamental to pursuing sustainable supply practices resulting in significant improvements in organizational sustainability (Paulraj, 2011). Using available data along with an analysis of the merous direct and indirect impacts of the proposed E-Procurement process, providing strong support for the significant role that internal resources/capabilities can play in managing sustainable supply practices as, well as organizational sustainability. The advantages and benefits of strategic purchasing and its impact on the bottom line a=formhe gist of this study into the practice of E-Procurement within the oil and gas industry. The results also suggest that managers need to realize that a strategic purchasing function alone cannot help in achieving long-term sustainability. On the contrary, the prime objective of firms must be to rationalize their decision-making process and streamline the various modules within the industry in order to improve profits and efficiency within the industry as a whole. The scope for future research and practice within Supply chain management is also discussed.
Chapter 6 CONCLUSION
The opportunity offered by digital technologies to make deep rationalization in pthe urchase of supplies is becoming indispensable in the competition between enterprises, considering the positive effects in reducing the costs of the companies that have adopted the E-Procurement. As it has been confirmed by numerous case studies and academic research, automation of procedures for the purchase through E-Procurement technology enables companies to achieve a reduction in the costs of total purchases. Thus, E-Procurement is found to be playing a critical role within companies, especially in the generation of value ofthe supply chain (Piera et al,2014)..By focusing on the role of E-Procurement within a supply chain, the advantages and difficulties of implementing a systematic use of the Internet and defining the basic structure of an e-supply chain are analyzed . fective Supply chain management practices dictate fair and balanced treatment of all critical players in any organization’s supply chain for better performance. Each of the players has their own vested interests, though occasionally some are shared (Ndolo and Njagi, 2016). Thu,oftentimeses the vendors and the company tend to be at loggerhead,s and the situation may be highly unstable, with each party putting their interests above others. The dilemma caused by such a variable situation alongside demand uncertainty tends to be the basis for volatility in the up and downstream process,es particularly the procuremenThethe crests a tug of war between procurement professionals who try to strike a balance between the various stakeholders and bring about a streamlining of the supply chain. Interestingly, a large majority of the procurement professionals cited balancing of variant stakeholder interests as their biggest challenge. When considering this scenario in light of E-Procurement implementation, it would be apt to state that although the process is aimed at streamlining the process of procurement process, the ground reality presents a different picture.
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