WALTHAM, Mass., March 25, 2015 /PRNewswire/ -- The Institute
for Supply Management® and Michigan State
University are honoring Raytheon Company (NYSE: RTN) for
excellence in supply chain management, a critical dynamic for
driving down product and contract costs.
Raytheon's Integrated Defense Systems (IDS) Integrated Supply
Chain (ISC) organization received the 2015 "Excellence in Supply
Chain Management Award" in recognition of the way the company drove
affordability through strategic, collaborative relationships with
suppliers.
"This award recognizes our transformational journey that is
leading to bottom-line improvements and increased opportunities in
a highly competitive marketplace," said Michael Shaughnessy, vice president of
integrated supply chain for Raytheon IDS. "In striving to become
the customer of choice for our suppliers, we contributed to
customer savings of more than 30 percent through our innovative
business structure changes and improved supply chain management
processes."
These actions dramatically reduce the cost of Raytheon's
products and drive excellence in the execution of subcontracts
through early involvement in the product life cycle, aggregation of
the company's spending and strengthened relationships with
strategic suppliers.
Raytheon IDS ISC also formed a Supplier Advisory Council
consisting of IDS leaders and senior executives from 13 supplier
companies, representing a mix of large and small businesses. Some
are publicly-held, some privately-held, and a number are
minority-owned. These companies have committed to the council for
two years with the goal to bring forward issues of concern, improve
partnerships and share opportunities for mutual success.
About Raytheon
Raytheon Company, with 2014 sales of
$23 billion and 61,000 employees
worldwide, is a technology and innovation leader specializing in
defense, security and civil markets throughout the world. With a
history of innovation spanning 93 years, Raytheon provides
state-of-the-art electronics, mission systems integration and other
capabilities in the areas of sensing; effects; and command,
control, communications and intelligence systems, as well as cyber
security and a broad range of mission support services. Raytheon is
headquartered in Waltham, Mass.
For more about Raytheon, visit us at www.raytheon.com and follow us
on Twitter @raytheon.
Media Contact
Ian
Davis
+1.978.858.4135
idspr@raytheon.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/raytheon-integrated-defense-systems-recognized-for-excellence-in-supply-chain-management-300054623.html
SOURCE Raytheon Company