Procurement teams are once again raising red flags about cost volatility and supply chain risk, according to new data from the Chartered Institute of Procurement & Supply (CIPS).

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In its latest survey, CIPS found that concern among procurement professionals has climbed to its highest level in roughly two years. Respondents cited rising prices, fragile supplier networks, and ongoing global trade uncertainty as key drivers of unease across global supply chains.

While many companies have regained basic visibility into their supply networks since the peak of the pandemic, the survey concludes that visibility alone is no longer enough to manage today’s pressures. Instead, procurement leaders are dealing with factors such as cost control, supplier reliability, and planning confidence.

CIPS noted that shipping and logistics costs remain a major source of concern, with respondents reporting higher price pressures across transportation and raw materials. Those pressures are making it harder for procurement teams to lock in predictable pricing or long-term contracts, especially in industries that rely on global sourcing.

The survey also shows that procurement often sees problems first. Because these teams work directly with suppliers, contracts, and pricing, they tend to spot changes before they show up in factory production or store prices.

Short-term outlooks were a concern. CIPS reported that expectations for the months ahead have weakened because of global trade conditions, regional conflicts, and the risk of further disruption to transportation routes.

Despite the challenges, procurement teams are staying active. Many respondents said they are reassessing sourcing strategies, diversifying supplier bases, and reviewing contract terms to build more flexibility into their operations. Others are working more closely with logistics partners and internal planning teams to improve coordination and reduce exposure to sudden cost swings.

The findings are clear: volatility is becoming the norm rather than the exception. Even as some pandemic-era disruptions fade, new pressures continue to emerge, keeping procurement teams on alert.

“Volatility itself is inflationary,” said Dr John Glen, Chief Economist at CIPS. “Even when prices fall back, the uncertainty forces organisations to plan for worst-case scenarios. In 2026, global procurement is being reshaped by the need to operate in an environment where disruption, cost swings and policy uncertainty are the norm rather than the shock.”