SAP Expands 25-Year Partnership with Lockheed Martin

Rhea-AI Summary

Lockheed Martin (NYSE: LMT) has expanded its strategic partnership with SAP SE (NYSE: SAP) to enhance its 1LMX transformation initiative. This program aims to modernize Lockheed's business systems and improve efficiency across its supply chain. Key features of this collaboration include the adoption of RISE with SAP, which will transition Lockheed's SAP ERP systems to SAP S/4HANA Cloud. The partnership focuses on leveraging data for improved agility and security in response to evolving threats facing customers like the U.S. Department of Defense. This initiative is expected to streamline operations and support Lockheed's goals in the defense sector.

Positive

• Expansion of strategic partnership with SAP to enhance operational efficiency.
• Implementation of RISE with SAP to modernize business systems and supply chains.
• Transition to SAP S/4HANA Cloud to streamline processes.

Negative

• None.

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Lockheed Martin Chooses RISE with SAP as the Secure Solution to Fuel 1LMX Transformation

BETHESDA, Md., Jan. 25, 2023 /PRNewswire/ -- Lockheed Martin Corporation (NYSE: LMT) and SAP SE (NYSE: SAP) announced today an expansion of their strategic relationship to transform the mission-critical business systems that power Lockheed Martin's OneLM Transformation Program (1LMX). 1LMX is the industry-leading business and digital transformation effort that is enhancing the speed, agility, insights and competitiveness of Lockheed Martin. By leveraging data as a strategic asset, enabling a model-based enterprise that spans the full product value chain, and streamlining systems and processes to both grow and run the business, Lockheed Martin is taking the lead in forging a more resilient, secure and modernized supply chain for the nation's defense industrial base.

Building on the decades-old relationship between the companies, Lockheed Martin is leveraging the RISE with SAP solution to expand its enterprise cloud capabilities and introduce the tools needed to implement core business processes in managed FedRAMP-compliant cloud environments through the 1LMX initiative. In addition, SAP® Business Technology Platform (SAP BTP) will provide Lockheed Martin with a secure innovation platform on which to develop emerging technologies. The SAP Analytics Cloud solution will enhance its strategic data management and analytics objectives.

"By leveraging SAP's industry expertise, the RISE with SAP solution, and the strength and reliability of SAP S/4HANA, Lockheed Martin aims to further enhance its position as an intelligent, sustainable enterprise in the cloud while operating with uncompromised security and support," said Scott Russell, member of the Executive Board of SAP SE and lead of Customer Success, SAP SE. "After nearly 25 years of partnership, we are proud that Lockheed Martin is leveraging SAP technology to tackle truly incredible missions – like taking humans back to the moon. With this announcement, they are looking beyond the moon, with one of the most innovative enterprise business and digital transformations ever conceived, hand-in-hand with SAP."

"Our customers, including the U.S. Department of Defense, face rapidly evolving threats, and they have made it a priority to become faster and more agile without compromising security. By expanding our partnership with SAP and by accelerating our move to the secure cloud, we will be able to provide the increased speed, agility, security and resilience our customers need to stay ahead of ready," said Yvonne Hodge, Senior Vice President, Enterprise Business and Digital Transformation, and Chief Information Officer, Lockheed Martin. "Through this agreement, we will be able to manage more closely product impact, employee well-being, resource efficiency and data security. We will be better able to grow and run our business and, most importantly, we will be well positioned to transform how we design, buy, build and sustain the products critical to the security of the United States and our allies."

RISE with SAP will bundle the applications, platforms, tools and services necessary to enable business process innovation for Lockheed Martin, identifying efficiencies and supporting Lockheed's vision to provide enterprise interoperability in support of meeting the needs of the government, defense and aerospace markets. RISE with SAP will shift the company's SAP ERP software systems to SAP S/4HANA® Cloud and will significantly expand Lockheed Martin's use of SaaS products from SAP in the areas of business technology platform, intelligent spend, human experience management, digital supply chain and several others.

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About SAP

SAP's strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.

This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP's 2021 Annual Report on Form 20-F.

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FAQ

What is the purpose of Lockheed Martin's partnership with SAP?

The partnership aims to enhance Lockheed Martin's mission-critical business systems through the 1LMX initiative.

How will RISE with SAP benefit Lockheed Martin?

RISE with SAP will modernize Lockheed's ERP systems and improve efficiency across its supply chain.

What technology will Lockheed Martin adopt from SAP?

Lockheed Martin will transition to SAP S/4HANA Cloud as part of its modernization efforts.

What is the significance of the 1LMX initiative?

1LMX focuses on enhancing speed, agility, and security for Lockheed Martin's operations.

When was the partnership between Lockheed Martin and SAP announced?

The partnership expansion was announced on January 25, 2023.