OREANDA-NEWS. Boeing (NYSE: BA) honored 16 companies and one university last night with its Supplier of the Year awards, recognizing those organizations' exceptional performance and contributions to Boeing's success during 2012.

The awards are based on meeting or exceeding quality, on-time delivery, post-delivery support and affordability goals, and demonstrating the ability to anticipate and respond to changing requirements.

"We count on these important partners to help us deliver market-leading products and services that satisfy our customers," said Jim McNerney, Boeing chairman, president and CEO. "They represent the best of a high-performing, global supply chain that keeps us at the forefront of technology and innovation."

Each year, Boeing buys more than USD 50 billion in goods and services from more than 23,000 suppliers around the world.

"These partners are critical to helping Boeing provide our customers the most affordable, highest-quality products and services possible," said Jack House, leader of Boeing's Supplier Management program. He added Boeing must have a global supply chain that is capable of recognizing and reducing risk, while demonstrating a strong commitment to customer service and consistent performance excellence.

In 2012, Boeing's global supply chain contributed more than 60 percent of the value of its products, helping the company recapture market share leadership in commercial aerospace. Boeing delivered 601 airplanes – the most in more than a decade – including a single-year record of 415 737s and the 1,000th 777. Suppliers also supported delivery of 144 production military aircraft, including the first Block C V-22 Osprey and P-8A Poseidon for the U.S. Navy and 10 satellites.