Two sources of volatility, one bottom line
Tariff turbulence has been the dominant story in 2026, but currency movement is compounding the same cost uncertainty for UK organisations importing internationally. Together, the two make fixed-cost forecasting for international purchases far less reliable than it was even two years ago.
Where exposure is usually underestimated
Businesses often hedge major currency exposure but leave smaller, recurring purchase categories unmanaged, assuming the individual amounts are too small to matter. Across a full procurement portfolio, those unmanaged categories frequently add up to a meaningful, avoidable cost.
Practical steps for tighter control
- Review currency exposure across the full supplier base, not just the largest contracts
- Build price-review triggers into contracts tied to defined currency or tariff thresholds
- Centralise visibility of international spend so exposure can be assessed in one place