Lockheed Martin Ranks in Supply Chain Top 25
BETHESDA, Md., July 28 /PRNewswire/ -- Lockheed Martin Corporation (NYSE: LMT) provides affordable supply chain management to the U.S. military, and now its logistics and sustainment operations are being recognized with a prestigious industry award. AMR Research has named Lockheed Martin to its Supply Chain Top 25 list for 2010, the fourth consecutive year the Corporation has earned the honor.
"Lockheed Martin's 20,000 trained logisticians are dedicated to assured delivery," said Lou Kratz, Lockheed Martin Vice President of Logistics and Sustainment. "The servicemen and women we support through our programs deserve the best in equipment supply, maintenance, reset and operations."
AMR Research uses its annual Top 25 list to document and share best practices from exemplary companies. Lockheed Martin is the only aerospace and defense company to make the list, but AMR suggests that supply chain practitioners have much to learn about how savvy management is improving business in engineering-heavy sectors. This year, AMR specifically cites Lockheed Martin for its impressive financial returns.
In fact, Lockheed Martin's supply chain practices contribute to the military's emphasis on affordable solutions. Lockheed Martin teams equip the entire U.S. Navy fleet and Marine Corps aviation with aircraft tires, saving the Department of Defense more than $27 million over the past nine years. Through a separate but similar initiative, Lockheed Martin supports the U.S. Air Force, U.S. Army, and the U.S. Coast Guard by providing full supply chain management for aircraft tires.
Lockheed Martin provides supply chain services to the United States Air Force for multiple aircraft platforms, depot level maintenance repair, and production requirements through the Industrial Product-Support Vendor program. Over 90,000 unique parts are provided across three military depot maintenance sites supporting over 270,000 consumable part bin locations while maintaining a 99.5 percent bin fill rate.
"Our logistics work is really about creating that lifeline of sustainment and support for people when it matters most," Kratz said.
Lockheed Martin also ensures that caregivers in the U.S. Army's Walter Reed Health Care System have the right equipment and inventory and manages Field Logistics Readiness Centers for the U.S. Army Forces Command and U.S. Army Materiel Command sustainment missions. The Corporation's logistics training expertise includes full-scale virtual convoy simulations that prepare military crews for multiple mission scenarios. Its technologies offer customers in-transit visibility – from temperature and moisture levels to tampering alerts.
In addition to its work with multiple Department of Defense customers, the Corporation recently entered into a strategic agreement with the University of Maryland for research and collaboration in areas of critical interest, including supporting the Center for Logistics and Sustainment.
AMR Research's report can be read in full here (http://www.gartner.com/DisplayDocument?ref=clientFriendlyUrl&id=1379613).
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2009 sales from continuing operations were $44.5 billion.
For additional information, visit our website: http://www.lockheedmartin.com.