Global Suppliers Receive Quality, Affordability Messages At Lockheed Martin Summit

ORLANDO, Fla., April 9, 2015 – At a three-day gathering this week in Orlando, Lockheed Martin [NYSE: LMT] counseled legions of its first- and second-tier global supply chain partners to recognize that tight defense budgets demand an increasing focus on quality, innovation and affordability.  

Themed, “Partnering to Engineer a Better Tomorrow,” the 2015 Lockheed Martin Missiles and Fire Control Supplier Summit brought together thought leaders and decision makers from nearly 300 U.S. and international companies. Throughout the summit, supplier representatives received consistent messaging about the importance of subcontract management in the interest of American warfighters and U.S. allies.

“The current climate as we compete to retain business and win new contracts is challenging, given the pressure on our customers’ budgets,” said Rick Edwards, executive vice president of Lockheed Martin Missiles and Fire Control. “Our customers are also demanding faster and more innovative solutions, which subsequently drive what we expect from our suppliers. By making our supply chain operations more efficient, we will be able to continue delivering the best value possible with affordable, superior-quality, on-time products.”

The summit included workshops, presentations and networking events built around four conference pillars: Affordability, Performance, Sustainability and Innovation. Lockheed Martin leaders urged attendees to rise to the demands of today’s business environment: flawless supply chain operations, a disciplined program plan, transparency in the multi-tier supply chain, implicit understanding of program requirements and processes, and increased accountability to ensure superior products for warfighters.  

Lockheed Martin Missiles and Fire Control’s principal business lines include Air and Missile Defense, Fire Control/Special Operations Forces Contractor Logistics Support Services, Tactical Missiles/Combat Maneuver Systems, Advanced Programs and Lockheed Martin U.K. Ampthill. Principal products include the JAGM, JASSM, THAAD and PAC-3 missiles; the Joint Light Tactical Vehicle; the targeting and pilotage system for the Apache attack helicopter, the F-35 Electro-Optical Targeting System; and a variety of unmanned air and ground vehicles.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 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 net sales for 2014 were $45.6 billion.