Analysis Of Boeing And Lockheed Martin

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There are a multitude of aerospace manufactures in the business of building airplanes worldwide such as Boeing and Lockheed Martin. In order to become a global leader in an ultra-competitive market, such as the aerospace industry, Boeing implements cost reducing initiatives such as lean manufacturing practices. In order to build a complex item such as an airplane on time and on budget, a manufacture will require a competent supply chain management system to ensure all the needed parts are available to the builders. Implementing technology such as automated equipment to assist in the reduction of human errors and fatigue will reduces costs associated with rework caused by human error mistakes. History and background of the organization, also including the types of goods sold and industry in which the organization operates. The remarkable Boeing Company was founded in the summer of 1916 by the illustrious William E. Boeing. William Boeing built the foundation of the company on acts and truths rather than assumptions and guesses (Boeing, 2016b). Utilizing facts such as measuring process times to complete a manufacturing process enables a business to benchmark its production efficiency. Utilizing a single-factor productivity formula is a simple and effective tool which measures productivity by dividing the number of units produced by the number of labor hours used to complete the task (Heizer & Render, 2014). The undisputed earning leader in 2015 was Boeing with more than
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