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Dec. 12, 2017 / 4:04 PM

Raytheon to support inventory management for Army

Two U.S. soldiers with 1st Battalion, 1st Air Defense Artillery Regiment, 94th Army Air and Missile Defense Command, patriot missile operator and maintainers loosen bolts during a patriot missile system reload on Kadena Air Base in Japan, Oct. 19, 2017. Photo by Capt. Adan Cazarez/U.S. Army

Two U.S. soldiers with 1st Battalion, 1st Air Defense Artillery Regiment, 94th Army Air and Missile Defense Command, patriot missile operator and maintainers loosen bolts during a patriot missile system reload on Kadena Air Base in Japan, Oct. 19, 2017. Photo by Capt. Adan Cazarez/U.S. Army

Dec. 12 (UPI) -- Raytheon has been awarded a modified contract for Patriot performance based logistics support for inventory management for the U.S. Army.

The contract, announced Monday by the Department of Defense, is worth more than $28.7 million and modifies the terms of a $36.4 million contract from December 2016.

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The deal also includes "the repair and replacement of 136 stock and parts associated with Patriot performance based logistics."

Performance based logistics is a key Defense Department strategy that aims to deliver "an integrated, affordable, support solution to optimize system readiness."

Work on the contract will be performed in Andover, Ma., and will be completed in December 2018.

U.S. Army working capital funds from fiscal 2018 of more than $28.7 million were obligated to Raytheon at the time of the award.

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