Aug 30, 2022
For the last 20 years, Lockheed Martin has been developing the F-35, earning it the rank as the most advanced fighter jet in the world. Today, the F-35 program is a powerhouse for the American economy, generating more than 295,000 advanced manufacturing jobs and having a $65 billion annual economic impact.
Being a leader in defense means that Lockheed is constantly looking to its partners for ways to optimize processes and ensure supply chain security. Parker Aerospace exemplified the benefits of such partnerships when it announced that by joining forces with DUST Identity, it can leverage more robust and efficient data for predictive maintenance for these game-changing aircrafts, as well as reduce costs and turnaround times for repairs. Creating a digital thread enables traceability of parts throughout their entire life cycle. Having this level of visibility will lead to better reliability, and ultimately help ensure F-35 pilot safety.
What can other organizations learn from the Lockheed, Parker, and DUST partnership?
- Trust strengthens relationships. Many organizations rely on their partnerships to be successful. In the Aerospace and Defense industries, those partnerships can span hundreds or even thousands of relationships. For example, log keeping for parts is nothing new; however, it’s critical to know that the information in those logs is reliable. If your company is supplying a global leader with parts, what reassurance can you provide to ensure you have a relationship forged by trust? And trust is reciprocal. As those parts are returned to you for maintenance and servicing, how can you likewise be sure that you have access to reliable data associated with those physical objects? This collaborative process requires an ongoing commitment to deliver consistently reliable data that allows all parties to stay committed both to the process itself, and to the relationship that underpins that process.
- Sustainability procedures implemented now will significantly reduce time spent navigating mandated audits. With details still in flux surrounding reporting requirements associated with the European Green Deal (EGD) and Corporate Sustainability Reporting Directive (CSRD), organizations should be preparing for these mandatory transitions now. While no direct connection to sustainability, the General Data Protection Regulation (GDPR) compliance mandates that went into effect in May 2018 should be viewed as a learning experience. Many organizations waited until the last possible moment to ensure compliance and were left scrambling or being hit with heavy fines.
The Lockheed, Parker, and DUST partnership illuminates the benefits of a collaborative process that not only reduces cost and increases efficiency, but also builds trust along the way. As organizations anticipate future needs related to compliance with governmental audits and sustainability procedures, partnerships such as these can help illustrate some productive paths forward.