Though the procurement sector is often overlooked, few individuals have made as much of an impact as Prachi Misra. This Oxford-educated McKinsey advisor has quickly established a name for herself with her tech-first strategies and talent for leadership, earning her the coveted "40 Under 40 Supply Chain Award" from Celerity.
"Procurement very much runs the global economy. In the end, every business outside the service sector requires it," Misra states.
From opening an outsourcing center in Serbia for NCR to identifying triple digit million dollar in cost savings during the LSEG and Refinitiv merger, Misra's relatively short time in the field reflects high-stakes operations and deep insight.
Rising in Procurement
Misra's career originally began on an entirely separate path, where she earned an electronics engineering degree from the Indira Gandhi Institute of Technology (IGIT) in India. Her true entry into the world of business began with an MBA from the prestigious Said Business School at the University of Oxford. Armed with a remarkable background and a spider web of connections, she set out to make her mark.
Her career has been a whirlwind of success, with stints at major companies like NCR and Refinitiv. As procurement director, Misra demonstrated the ability to optimize costs and thoroughly plan next-generation strategies. These skills contributed to her being recognized as top two in Europe in the "Best Supplier Relationship Management" category from CIPS Europe, a sought-after recognition by many in the sector.
Beyond her immediate roles, Misra's influence truly distinguished her career. As an expert advisor at McKinsey & Company, she has advised CPOs and senior executives on global-scale business decisions. Her insights have become invaluable to companies seeking to optimize their operations and have been attributed to the wide-scale adoption of several advanced technologies.
Driving Digital Growth
Pivotal to her strategies, Misra has been a frequent advocate for integrating the latest technologies into procurement processes. Her article, "Digital Strategies in Procurement," discusses the power of artificial intelligence (AI), machine learning (ML), and other disruptive technologies yet to be fully adopted into business operations.
"Technology promises to completely change how we interact with suppliers and manage our resources," Misra explains. With these tools, companies can achieve significant cost savings, improve supplier collaboration, and drive growth.
In her advisory role, Misra's interest in this area has been a defining edge for her clients, creating a competitive edge, regardless of the businesses' sector or operational structure.
A Well-Deserved Recognition
The "40 Under 40 Supply Chain Award" is a fitting recognition of Misra's contributions to the field. This accolade, bestowed by Celerity, highlights the brightest young stars in the supply chain industry. For her ideas and strategies, Misra's inclusion in this group was all but expected by those who have worked with her. She has also been recognized as the "Europe Fleet Manager" by Fleet Europe in 2017 for her efforts in managing complex, multi-country initiatives.
With executive-level procurement often dominated by established veterans, Prachi Misra is an excellent example of what to expect from the next generation of procurement leaders. Experts project that this may be just the beginning of what promises to be a truly remarkable career.
