OREANDA-NEWS. Boeing [NYSE: BA] is honoring 14 companies and one university with its 2014 Supplier of the Year awards, recognizing their superior performance in delivering high-quality products and services on time and at the promised cost.

Strong performance and close collaboration with these award-winning suppliers helped Boeing exceed customers' more-for-less expectations while also contributing to Boeing's record \$90.8 billion in revenue in 2014. 

Each year Boeing recognizes its top-performing suppliers from around the world. Winning organizations are selected based on criteria that include quality of their products or services and the value they create for Boeing and its global airline, U.S. and allied government customers.

"Strong partnerships with our suppliers can make a difference between winning and losing customers and competitions, or determining the success of a development program," said Boeing vice chairman, president and chief operating officer Dennis Muilenburg. "The best suppliers – like the ones recognized with the Supplier of the Year Award – operate as partners and differentiate themselves, and Boeing, from the competition through close collaboration and a relentless commitment to first-time quality, on-time delivery and affordability."

In 2014, Boeing spent \$62 billion with more than 13,000 suppliers from 47 countries. Supplier-provided components and assemblies make up more than 60 percent of the cost of Boeing products. Suppliers also played a key role for Boeing last year, enabling Boeing Defense, Space & Security to win significant new contracts and helping Boeing Commercial Airplanes set an industry record for deliveries in a single year.

"Our success in 2014 was due in large part to the strong performance of our supply chain," said Kent Fisher, vice president and general manager, Supplier Management, Boeing Commercial Airplanes. "We face an increasingly competitive landscape across all of our businesses. To continue to lead the market, we need supplier-partners who understand the importance of creating a sustainable competitive advantage with products, services and support that meet or exceed the expectations of our customers."