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 October 24, 2014

News: U.S., South Korea delay transfer of wartime control - The U.S. and South Korea have delayed transferring wartime operational control of allied forces by taking on a “conditions-based approach” and scrapping the previously set deadline of 2015.   Business: Exclusive: Lockheed, Pentagon reach $4 billion deal for more F-35 jets - Lockheed Martin and U.S. defense...
 
 

News Briefs October 24, 2014

French moving troops toward Libyan border A top French military official says the country is moving troops toward the Libyan border within weeks and, along with U.S. intelligence, is monitoring al Qaeda arms shipments to Africa’s Sahel region. A French base will go up within weeks in a desert outpost just a hundred kilometers (60...
 
 
Navy photograph

Navy to commission submarine North Dakota

Navy photograph The PCU North Dakota (SSN 784) during bravo sea trials. The crew performed exceptionally well on both alpha and bravo sea trials. The submarine North Dakota is the 11th ship of the Virginia class, the first U.S....
 

 

Boeing announces SF Airlines order for Boeing converted freighters

Boeing announced Oct. 23 that SF Airlines has placed an order for an undisclosed number of 767-300ER passenger-to-freighter conversions (Boeing Converted Freighters). SF Airlines, a subsidiary of Shenzhen, China-based delivery services company SF Express, will accept its first redelivered 767 in the second half of 2015. “SF Express aims to become China’s most respected and...
 
 
LM-C130

Another Super Herc Little Rock Rollin’

  Lockheed Martin delivered another C-130J Super Hercules to the 61st Airlift Squadron at Little Rock Air Force Base, Ark., Oct. 23. Little Rock AFB’s new C-130J was ferried from the Lockheed Martin Aeronautics facility ...
 
 

United Technologies beats third quarter profit expectations

United Technologies Corp. Oct. 23 reported third-quarter profit of $1.85 billion as sales increased across all its businesses and the aerospace giant reported favorable tax settlements. The Hartford, Conn.,-based company said it had profit of $2.04 per share and earnings, adjusted for non-recurring gains, came to $1.82 per share. The results topped Wall Street expectations,...
 




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>