Supplier diversity is a business strategy that ensures a diverse supplier base in the procurement of goods and services for any business or organization.

Research shows that companies that embrace diversity are more profitable than companies that don’t: "On average, supplier diversity programs add $3.6 million to the bottom line for every $1 million in procurement operation costs,” writes Lindsay Clark, referencing a 2015 study by The Hackett Group. “The high return on investment is undeniable... A positive ROI that boosts socially conscious reputation should push supplier diversity to the forefront of business strategy."