Suppliers play a key role in the delivery of Lockheed Martin’s strategy. Doing business with UK based suppliers and small businesses adds fuel to the engine of the economy. Lockheed Martin spends £1 billion a year with its UK suppliers, both large and small, sustaining some 10,000 direct and indirect jobs nationwide.
By virtue of their size, SMEs often have unique attributes which make them agile and responsive in progressing innovative thinking and new technologies. As Lockheed Martin’s strategy to expand its UK business develops further, small and medium enterprises (SMEs) figure prominently in its plans - working to develop mutually beneficial relationships which utilise their agility and innovation.
The company recognises that changing dynamics of the current economic environment make it critically important to identify ways of more effectively integrating and optimising its supply chain. Its approach is based on clear, concise but flexible commercial agreements which define boundaries but also the scope for all parties to work effectively and efficiently towards solutions.