HollyFrontier Corporation is a largest independent petroleum refiner and distributor of petroleum products. It is also known as a Fortune 500 company which is located in Dallas, Texas United states. In 1947, Holly Corporation was initially consolidated under the name General Appliance Corporation. Later, in 1949, it was fused under the name Wainoco Oil Corporation, which was basically an oil and gas investigation organization with creation in Canada and the U.S. To expand its enthusiasm into oil generation, General Appliance Corporation transformed its name to Holy Corporation in 1952. The Company lives up to expectations in two parts refining and HEP (Holly Energy Partners, L.P) which creates high esteemed refined item use in the…show more content… The main goal of company should always be providing maximum customer service at the lowest cost possible. Nowadays company are facing many challenges regarding some areas. Let’s talk about Procurement, it begins with managing processes associated with a firm’s need to purchase goods and services required to manufacture goods/services (direct) or run the organization (indirect). The process of procurement is regarded as part of the organization because the ability to purchase certain materials will determine whether the operation will continue or not. For a business to survive in the competitive market the price of procurement should be low than the profit it makes on selling the actual product. HollyFrontier Corporation is a largest petroleum company and it operates to a global market where it has to face many competitors. Many companies are adopting value based strategy and less volume which helps them to sell their product in higher cash value. An organization spends colossal sum on discovering, creating and delivering oil and gas. In this way, acquisition capacity assumes extremely discriminating part in effective operation. Procurement management is divided into drilling, well completion, facilities, transportation, operation, office services and IT services. The oil and gas industry has turned into the heart of the worldwide vitality business sector and dominant part of the general public utilize these vitality in high sum.