Procurement and Supply Chain Live: David Loseby

David Loseby, Managing Director, Barkers explores the value and proven strengths of building cognitively diverse teams in procurement


Often overlooked or undervalued in the corporate DE&I conversation, cognitive diversity is vital for building teams adept at overcoming the challenges facing procurement and supply chains. 

In his session on the subject at Procurement and Supply Chain Live, David Loseby, Managing Director, Barkers, explored how we define cognitive diversity, and how cognitively diverse teams provide superior results in complex fields such as procurement and supply chain. 

 

Cognitive Diversity is a Proven Strength

Beyond gender, ethnicity and other important areas of diversity, cognitive diversity is actually about “looking at other attributes of diversity that are incredibly important when we are constructing teams to challenge complex issues and problems”, Loseby explained. 

“In organisations where cognitive diversity is truly embrace, what they’ve witnessed is - and we can actually measure this - 30% less risks occur as a consequence of having cognitive diverse teams, and there is 20% more innovation.”

Backed by academic research and his own modelling and visualisation, Loseby also considered how cognitively diverse teams are best suited to the types of creative problem solving procurement and supply chain challenges require.

“When research has been done with teams, running through exercises, one of the things that really intrigued me was, taking teams that are truly cognitively diverse… they generally perform a lot better in 'solutioneering' and problem solving,” he said.

“One of the studies actually showed that a team of PhD students and a team of medical doctors either failed, or ran out of time, in completing some of the tasks. What that says is that it’s nothing to do with intelligence, actually, it’s about that diversity of experience that is really, really important.” 

Four Attributes to Create Cognitively Diverse Teams 

  • Fairness and respect
  • Valued and belonging
  • Safe and open 
  • Empowering and growing 

“If you don’t have those four ingredients, chances are you don’t have a cognitively diverse team, and you won’t have a team that can then deliver innovation and drive out risk from what you’re doing,” he said.
 

Share

Featured Articles

GlobalWafers pauses US chips plant over Congress inaction

World’s third-largest semiconductor-wafer manufacturer GlobalWafers 'pauses plans for new US plant' until Congress makes $52bn available through CHIPS Act

Capgemini in cybersecurity warning on smart factories

Report from multinational consulting firm Capgemini shows Industry 4.0 tech is leaving smart factories open to cyberattack, & that action urgently needed

St Guys NHS Trust procurement head on health supply chains

Procurement & Supply Chain LIVE: The Risk & Resilience Conference welcomed Guy's & St Thomas NHS Trust Procurement Director David Lawson as a speaker

Global logistics round-up: air, sea, road and rail news

Logistics

Asia holds key to future success, McKinsey tells CEOs

Digital Supply Chain

Dynamic data key to unlocking supplier value - TealBook CEO

Procurement