Supporting Our Suppliers
The industrial supply chain and the businesses powering it are critical to our nation’s security. As the COVID-19 situation continues to evolve, so too will the ways in which Lockheed Martin supports our suppliers and small business partners.
In the resources below, you will find details concerning current relief efforts as well as precautionary measures we continue to take.
$1.1B+ in Accelerated Department of Defense Progress Payments
From the beginning of the COVID-19 crisis, Lockheed Martin has been working with the U.S. Department of Defense (DOD) to identify ways to provide critical financial and other support to vulnerable elements of the U.S. defense industrial base. We have flowed all of the accelerated payments received from the Department of Defense to our supply chain – more than $1.1 billion – giving priority to small and vulnerable suppliers, as we continue our efforts to mitigate COVID-19 risks and promote a healthy Defense Industrial Base.
$300-$500M+ in additional Accelerated Payments Weekly
In recent weeks, our acceleration of cash to supply chain partners has ranged from $300 million to $500 million per week. We will continue to assess COVID-19 impacts, working with our U.S. Government partners and suppliers, and accelerate cash to at-risk suppliers and small businesses to ensure that we continue to meet commitments vital to national security.
Supply Chain Information
Identification of risks and open communication are the strongest defense to avoid disruption. Notify your Lockheed Martin procurement representative as quickly as possible if you identify any issues that could cause potential delays in deliveries, transportation or availability of materials, or other impacts. You should include available facts including efforts planned to mitigate potential impact.
Your Lockheed Martin procurement representative may reach out to understand your business continuity plans and sub-tier supplier impacts. Nothing in the communications are intended to alter the terms and conditions of any contract you hold with Lockheed Martin, nor serve as the basis for any claim, adjustment to price or schedule or other legal action. Contact us for information regarding prior communications using the button below.