Value Chain Model Assessment for Term Paper

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This makes the task of managing value chains especially difficult.

Opportunities for Improvement in Lockheed Martins' Value Chain

In evaluating how Lockheed Martin can become more effective in its value chain strategies, there is the immediate need to create a more agile platform to base the entire value chain on. The use of Service Oriented Architectures (SOA) and the extension of the value chain to services partners globally to handle Maintenance, Repair, and Overhaul (MRO) tasks is critical. Lockheed Martin expects to see a majority of their revenue from MRO throughout the next ten years, and the fine-tuning of their value chains will be essential for this goal to be achieved. In addition, Lockheed Martin needs to consider bringing their customers into the definition and strategic management of value chains, creating advisory councils to ensure their customers' needs are understood and reflected in the process workflows. The bottom line is that Lockheed Martin needs to look at the processes involved in each of their project value chains and create a Voice of the Customer Advisory Council program to ensure the value chains themselves stay relevant to customers over the long-term.

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In addition, the integration of value chains together within Lockheed Martin also needs to be considered in the future development of an enterprise-wide Services Oriented Ar4cfhitectrure (SOA) platform. The eventual integration of comparable processes across the many value chains in Lockheed Martin could lead to significant cost savings to the company across all divisions. Using an SOA platform this would be possible. The bottom line is that as value chains are generated on a per project basis within Lockheed Martin, the continual commitment to Business Process Management (BPM) and Business Process Reengineering (BPR) are critical if the company is to stay as competitive as possible in its execution of contracts......

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