Lockheed Issues $256M in Accelerated Supplier Payments

Lockheed Martin has accelerated $256M in supplier payments this week as part of efforts to support supply-chain level small business amid operational disruptions, Inside Defense reported Friday.

The company said it aims to issue $450M in expedited payments and conduct a series of webinars next week to familiarize small businesses with available resources during the global pandemic.

Lockheed noted that an additional $5M has also been funneled to support COVID-19 relief efforts, including programs under the Army Emergency Relief, Air Force Aid Society and Navy Marine Corps Relief Society.

The company previously pledged $10M for various COVID-19 charity initiatives, according to the report.

Last week, L3Harris Technologies made a similar announcement to accelerate over $100M in payments to small businesses in the company’s supply chain.

You may also be interested in...


Microsoft Launches Virtual Desktop for Azure Gov’t Customers

Microsoft has made desktop virtualization service generally available to customers of the Azure Government cloud platform in an effort to help agencies manage remote workload. The Azure Gov Team wrote in a blog post published Wednesday the Windows Virtual Desktop supports a zero-trust approach for securing remote workforce, devices, data and applications.

Matthew Bromberg

Pratt & Whitney to Study F-35 Propulsion Tech Upgrade Options; Matthew Bromberg Quoted

Raytheon Technologies' Pratt & Whitney business has received a $1.5M contract from the Department of Defense's F-35 Joint Program Office to explore propulsion system development requirements for the fighter aircraft's next configuration.

Enrique Oti CTO Second Front Systems

Air Force Vet Enrique Oti Joins Second Front Systems as CTO

Retired U.S. Air Force Col. Enrique Oti has been named chief technology officer of San Francisco-based software developer Second Front Systems.