Boeing Co Chief Operating Officer Dennis Muilenburg said the company's efforts to lower prices it pays suppliers is likely to generate "double-digit" reductions in supply chain costs.

The company is in the "second or third inning" of its "Partnering for Success" cost-cutting program, with "much more opportunity ahead of us than what's been booked so far," he said.

Cost reductions already are flowing through to Boeing's defense and commercial aircraft businesses, Muilenburg said at an investor conference in New York organized by JPMorgan.

(Reporting by Alwyn Scott; Editing by Richard Chang)