NHADEC recently held its September general membership meeting at the McAuliffe Discovery Center in Concord, NH. It was a great meeting with over 40 members present to discuss the latest in aerospace and defense. Besides the presentations reviewed below, NHADEC announced the roll-out of its new sales pipeline program. Stay tuned for more information on this exciting opportunity!
BAE Systems: Electronic Systems Overview
Brandon Greene, Senior Director of Supplier Partnerships, joined this month’s member meeting to give an overview on BAE’s Electronic Systems supply chain and how they look to achieve operational excellence. Through their “Partner 2 Win” supplier program, BAE tiers their manufacturers and suppliers based on quality, reliability, on time delivery and affordability. In creating this program, BAE is looking to identify top tier suppliers while slowly cutting out the lagging lower tiers. Since 2013, BAE has reduced its number of Electronic Systems Suppliers by 29% and has a target reduction of 50% by 2022. In doing so, BAE predicts it will greatly reduce their late and defective parts from their lower tiered suppliers by the millions.
To read more on BAE’s Electronic Systems Overview and their “Partner 2 Win” program, click here.
NHADEC is proud to have BAE Systems as one of its corporate sponsors.
Export Finance: Minimalizing Risk & Maximizing Capacity
Greta Johansson, U.S. Small Business Administration, and Tom Stapleton, People’s United Bank, were also in attendance at this month’s meeting and presented on ways business can work with banks when exporting to international markets. The SBA is able to offer loan programs to exporting businesses through partnerships they have with banks and have three types of loan options. These loans are the Export Express, the International Trade Loan and the Export Working Capital Program. Each has their own benefits based on what the exporter is looking to do.
The presenters demonstrated that banks can also be beneficial when businesses are looking to be paid by international clients. Through various payment methods, the bank can help minimalize financial risk in dealing with international businesses and currencies. Whether foreign exchange or legal risk, the bank will have the proper expertise and resources to handle any financial situation. Both presenters demonstrated the importance of planning for export financing before finalizing any deal.
To read more about the SBA’s Loans or financial risks in the international market, click here.