Lockheed Martin is conducting general procurement and reverse auctions via Exostar. "Prior to when this exchange existed, we had to essentially craft that relationship with every supplier. In a very rapid fashion Exostar has now given us this one-to-many interface," says Lockheed Martin chief information officer Joe Cleveland. Lockheed Martin has around 55% of its suppliers integrated with Exostar, but the eventual goal is to have all suppliers connected. "On reverse auction activity, we're seeing anywhere from 15% to 38% cost benefits," says Cleveland.
Source: Flight International