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Question Number 1

There are various trends followed by Chevron Company Inc, this includes technological developments, demographic trends, socio-cultural influences, macro-economic impact and pressures of legality and politics. The company needs an increasing demand for energy source due to the reason that it is an oil and gas industry which generates energy.

Question Number 2

The primary sources for the oil and gas industry are obviously wood, coal, oil, and gas. The other needed as secondary sources include nuclear fuels, wind, tides, rivers, raw material. And tertiary sources are as this company comes under the tertiary sector and it needs to deliver supply and chain management effectively (Swink et al., 2017)

Question Number 3

Insourcing is definitely an option for this type of industry as it is necessary to recruit personnel from inside the organization who are well equipped with the machinery and methods of the company.

Question Number 4

Yes, the limited resources include raw material, i.e., coal, oil, and gas. Thus it also needs labor, machinery, and stakeholders for mining and exploration of the oil and gas, along with the primary and secondary source nationally as well as internationally.

Question Number 5

The company's activities are regulated on the federal and state level. Hence, there are certain restrictions regarding the exploration of gas and oil drilling. So for performing these operations, the company needs to have a drilling permit, along with development permit and functioning permit. The Bureau of Land Management is the authentic agency for regulating exploration of oil, its development, and production on national and international properties.

Question Number 6

This article is helpful regarding the challenges faced by the company and it identifies the levels of competence, thus giving a clear view of the effectiveness of the functions in a company. This article also assisted in giving the information for the ways to overcome these barriers or challenges and move the company to higher performing levels (Supply Chain Quarterly, 2019).

References

Swink, M., Melnyk, S. A., Cooper, M. B., & Hartley, J. L. (2017). Managing operations across the supply chain. New York, NY: McGraw-Hill Education.

3 steps to strategic sourcing – Strategy – CSCMP's Supply Chain Quarterly. (2019). Supplychainquarterly.com. Retrieved from https://www.supplychainquarterly.com/topics/Strategy/scq200903strategic/

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