Online bidding enables the process of buying and selling goods, services, and information using Internet-based tools that facilitate the bidding process and provide a forum where the buyer and sellers meet online to participate in a real-time event. There are two applications of online bidding, the Buy-Side and the Sell-Side. The Buy-Side (Reverse Auction) supports the procurement function while the Sell-Side supports asset management and surplus disposition. A Reverse Auction can streamline the procurement process for both Lockheed Martin and our supplier community.
Electronic Invoice System
Lockheed Martin Corporation has moved to an electronic invoice system to facilitate more accurate invoices and more timely payment to suppliers. This will replace all paper invoices, and no paper invoices will be accepted. Training is available to learn how to use the new tool. Suppliers can check the status of their invoices and payments.
Frequently Asked Questions on the electronic invoicing system are available. Click here