Business

June 7, 2012

Lockheed Martin reaches strategic supply chain agreement

Lockheed Martin has signed a new strategic enterprise agreement with Arrow Electronics covering procurement of more than 22,000 electronic components used in advanced technology systems such as missiles, satellites, radar systems, tactical fighter aircraft and unmanned surveillance systems.

It represents Lockheed Martin’s largest agreement with any single supplier for these commodities, and concentrates procurement of parts covered under the agreement with a leading national franchised distributor, down from 240 suppliers in 2011.

The new agreement allows the company to improve product delivery performance, standardize parts selection and increase internal efficiency and productivity. Lockheed Martin will realize cost reductions based on historical pricing for most electronic components covered under the agreement. Additionally, more than one-third of the components will be delivered to Lockheed Martin with substantial lead time reductions.

The agreement includes a one-year term with an additional one-year option. This marks the first of multiple strategic agreements between Lockheed Martin and key suppliers intended to generate material cost savings and operational efficiencies for our programs and customers.

“We are adapting our supply chain strategy to further improve program execution, drive affordability and assure quality performance,” said Dan Pleshko, vice president, Global Supply Chain Operations. “Arrow was selected in a competitive process, and we will use a similar approach to form strategic agreements for other categories of direct and indirect material.”

“The changes in the aerospace and defense industry are accelerating, and this agreement illustrates our value proposition,” said Michael J. Long, chairman, president and chief executive officer of Arrow Electronics. “As a supply channel partner, we are fully committed to delivering optimal value to a breadth of Lockheed Martin’s innovative and sophisticated solutions.”




All of this week's top headlines to your email every Friday.


 
 

 

Headlines November 21, 2014

News: Dempsey lays groundwork for larger 2016 defense budget - The top U.S. military official on Wednesday made the case for growing the base defense budget significantly over the $535 billion spending cap imposed by Congress for fiscal 2015.   Business: Boeing can bill $61 million that Pentagon withheld for months - The Pentagon withheld $60.5 million...
 
 

News Briefs November 21, 2014

Obama aide: U.S. should look at Ukraine military aid A senior aide of President Barack Obama says he believes the U.S. should consider giving Ukraine lethal, defensive military assistance to get Russia to think twice about its destabilizing behavior. Tony Blinken, the deputy national security adviser, cites serious violations by Russia of agreements not to...
 
 
Air Force photograph by SrA. Divine Cox

Kunsan AB hosts Exercise Max Thunder 14-2

Air Force photograph by SrA. Divine Cox A South Korean air force F-15 Strike Eagle lands Nov. 17, 2014, during Max Thunder 14-2 at Kunsan Air Base, South Korea. U.S. Air Force, Army, Marine Corps and Navy personnel and aircraft...
 

 
LM-facility

Lockheed Martin opens Surface Navy Innovation Center

Lockheed Martin has opened the Surface Navy Innovation Center in Moorestown, N.J., to support the development of new technologies for the U.S. Navy. The SNIC is a research, development and demonstration facility that brings tog...
 
 
raytheon-test

Raytheon successfully demonstrates integrated electronic warfare capabilities

EL SEGUNDO, Calif. – Raytheon, in collaboration with the U.S. Navy, successfully demonstrated an end to end, first of its kind, integrated electronic attack system during flight tests at the Naval Air Weapons Station Chi...
 
 

Three bases identified as F-16 aggressor candidate bases

U.S. Air Force photo by Tech. Sgt. Joseph Swafford Jr. A U.S. Air Force F-16 Fighting Falcon fighter aircraft assigned to the 18th Aggressor Squadron lands at Eielson Air Force Base, Alaska, Oct. 6 during RED FLAG-Alaska 15-1. RF-A is a series of Pacific Air Forces commander-directed field training exercises for U.S. and partner nation...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>