Rapid changes and competitions in today's world have shifted the role of governmental enterprises into regulating and directing activities. This has led to the need for the analysis of internal/ external situations and the revision of strategic planning of such companies. The Iranian Oil Terminals Company, as one of the National Iranian Oil Company subsidiaries, has developed its vision, mission, and strategic plan. In this paper, the strategic planning was fulfilled for the Procurement and Supply system of IOTC, which has the role of supporting the primary activities of the company by sourcing, purchasing, warehousing, and delivering the requested materials. In this regard, different models of strategic planning were reviewed to design a suitable approach for strategy formulation. The adopted framework was implemented using the balanced scorecard approach and the results were presented step by step in the paper. . . . . . . . . . . .