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Lockheed Martin reorganizes supply chain

Lockheed Martin Corp., of Bethesda, the world’s largest defense contractor, said it has signed an agreement with electronics supplier Arrow Electronics Inc. covering procurement of more than 22,000 electronic components used in advanced technology systems.

The agreement with Englewood, Colo.-based Arrow covers parts used in missiles, satellites, radar systems, tactical fighter aircraft and unmanned surveillance systems.

The agreement is Lockheed Martin’s largest such arrangement with a single supplier. In 2011, Lockheed dealt with 240 separate suppliers for parts covered by the agreement.

In its announcement, the company said it will achieve savings as a result of the single-source agreement, although the amount was unspecified.