Supplier diversity refers to a business strategy that encourages the inclusion of a variety of suppliers in the procurement process. This often involves working with small, minority-owned, women-owned, and other underrepresented businesses. The goal is to create a more equitable marketplace and foster innovation by leveraging diverse perspectives. By promoting supplier diversity, companies can enhance their competitiveness and improve their reputation. Engaging with a broader range of suppliers can lead to better products and services, as well as increased customer satisfaction. Many organizations, including government agencies and large corporations, actively implement supplier diversity programs to support economic growth in diverse communities.