New Delhi, May 14 -- Upstream and downstream refer to a company's position in the supply chain. Upstream functions focus on acquiring raw materials and manufacturing, primarily on supply management. This involves extraction, sourcing, and research and development efforts to obtain inputs effectively. Conversely, downstream processes involve the processing, distribution, promotion, and selling of finished goods to final consumers, emphasising demand generation and customer satisfaction.

In the oil and gas industry, upstream refers to exploration and drilling activities, midstream to transportation and storage, and downstream to refining crude oil into fuels and distributing them to end users.

Upstream industries focus on acquiring raw ma...