Lockheed Martin has been awarded a massive contract with the US military, in a deal that will see the engineering company become responsible for the entire supply chain for the military's automotive parts.
The value of the contract over the next ten years is potentially $5.6 billion (£3.5 billion), it has been reported.
The contract means the company will be responsible for ensuring delivery of parts to US military vehicles while minimising the use of storage.
Such a mammoth task is to be carried out by the private company in order that the military can then benefit from directing resources to its own affairs.
Private businesses in the UK often employ a similar model, by utilising a third party supply chain management company.
A supply chain management company can offer businesses a fresh approach to managing their supply chains, as well as a wealth of experience and contacts.
Contracting a supply chain to such a company can save many businesses time and money.
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