Lockheed Martin has replaced 240 suppliers with a single vendor as part of a new one-year procurement contract with Arrow Electronics.

The contract will see Arrow provided more than 22,000 components for the technologies including radar systems, satellite equipment and other aerospace equipment. The procurement strategy is expected to be employed by Lockheed Martin to deliver upcoming contracts in order to reduce costs and increase overall efficiency.

Dan Pleshko, vice president, global supply chain operations for Lockheed Martin, said: “We are adapting our supply chain strategy to further improve programme execution, drive affordability and assure quality performance.”