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Lockheed Martin Policy
It is Lockheed Martin policy that its business units will conduct socioeconomic subcontracting programs in recognition of compelling moral, social and economic necessity. It is also policy to facilitate the achievement of its negotiated subcontracting goals by developing the capabilities of, and pursuing opportunities to award subcontracts and other procurements to, small, small disadvantaged, women, veteran, and historically black and tribally owned colleges and universities, and other minority institutions.
In furtherance of these objectives, Lockheed Martin will institute a proactive supplier diversity program designed to develop the growth and competitive capabilities that will enable such businesses to become responsible suppliers. This program will be consistent with policy of considering all subcontractors and suppliers fairly in competition for requirements falling within their demonstrated capabilities. This policy applies to government contracts and, to the extent practicable, commercial programs.
Additionally, Lockheed Martin's ethics values support the inclusion of all people, regardless of age, race, and gender, including lesbian, gay, bisexual, and transgender (LGBT).
Online bidding enables the process of buying and selling goods, services, and information using Internet-based tools that facilitate the bidding process and provide a forum where the buyer and sellers meet online to participate in a real-time event. There are two applications of online bidding, the Buy-Side and the Sell-Side. The Buy-Side (Reverse Auction) supports the procurement function while the Sell-Side supports asset management and surplus disposition. A Reverse Auction can streamline the procurement process for both Lockheed Martin and our supplier community.