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.


 
 

 

U.S. Air Force selects Cubic for Moroccan P5 air combat training system

Cubic Defense Systems, a subsidiary of Cubic Corporation announced April 11 it has been awarded a contract valued at more than $5 million from the U.S. Air Force to supply its P5 Combat Training System to the Moroccan Air Force. Morocco will join the United States Air Force, Navy, and Marine Corps, along with a...
 
 

Boeing realigns engineering to enhance customer Support

Boeing announced April 10 it is centralizing customer support for in-service airplanes at its Boeing Commercial Airplanes Engineering Design Center in Southern California, as the company continues to focus on increasing competitiveness while enabling continued growth of the global airline industry. “We’re creating a single location for customer support at the Southern California des...
 
 
Northrop Grumman photograph by Alan Radecki

Legendary Collier Trophy awarded to X-47B team

Northrop Grumman photograph by Alan Radecki The Northrop Grumman-built X-47B Unmanned Combat Air System (UCAS) approaches the flight deck of the USS George H.W. Bush (CVN 77), seconds before making history by being the first un...
 

 
Lockheed Martin photograph

First C-130J Super Hercules ëShimshoní arrives In Israel

Lockheed Martin photograph On April 4, 2014, the Israeli Air Forceís first C-130J Super Hercules aircraft left the Lockheed Martin Aeronautics facility where it was built in Marietta, Ga., for Nevatim Air Base, Israel. This Su...
 
 

Lockheed Martin opens new office in Israel

Lockheed Martin Chairman, President and CEO Marillyn Hewson officially opened the company’s newest office in Israel April 9 to support the corporation’s growing presence in that important country. The new office, located in Be’er Sheva, further demonstrates the Corporation’s commitment to supporting the Israeli Defense Force and their “Move to the South” campaign. ...
 
 

Kelly Aviation Center is now Lockheed Martin Commercial Engine Solutions

Kelly Aviation Center, a leading provider of aircraft engine maintenance, repair, and overhaul for international commercial and military customers, has changed its name to Lockheed Martin Commercial Engine Solutions. “Since 1999, we have been proud to be Lockheed Martin’s only jet engine MRO service provider,” said Amy Gowder, vice president and general manager of LMCES....
 




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>