Why year-end is the perfect time to boost efficiency

The fiscal year-end comes around faster than most of us expect.
It’s a time for reviewing performance, closing out accounts, and setting priorities for the year ahead. But here’s a question: are you using this period to its full potential?
The end of the fiscal year offers a golden opportunity to address inefficiencies that directly impact profitability. From streamlining stock processes to leveraging data for smarter decisions, focusing on operational efficiency now can set you up for a more competitive and successful year ahead.
Why now?
There’s no better time to identify inefficiencies than when you’re reviewing your year-end numbers.
Are you grappling with stock imbalances or overstretched resources? Do your systems and processes support your team, or are they holding you back? The fiscal year-end provides the clarity needed to assess these issues.
Common pain points include:
📈 Scaling operations: Managing increased volumes without sacrificing quality.
❌ Outdated systems: Legacy tools that lack integration and create inefficiencies.
⚖️ Inefficient pricing: Inability to adapt pricing dynamically based on market trends.
📦 Complex inventory needs: Managing multi-location stock and high SKU counts.
Take stock management as an example. Wholesalers in particular lose money through inaccurate stock records, overstocking, or missed sales opportunities. Investing in advanced tools to track, forecast, and optimise stock levels ensures smoother operations and better cash flow.
What to focus on
Operational efficiency is key to thriving. Here are the top areas to prioritise:
- Stock management: Efficiently track, order, and move goods through your warehouse. WMS tools provide live stock data and automated reordering, helping to reduce waste and avoid stockouts.
- Process automation: Automate manual tasks like invoicing, order processing, and stock updates. Automation saves time and minimises errors, allowing your team to focus on value-added activities.
- Demand forecasting: Use historical data and market insights to predict future trends. This reduces the risks of holding excess inventory or failing to meet demand.
A case in point
The Wright Buy, established in 2009, specialises in kitchen appliances. After implementing Orderwise in 2014, they launched their own brand, Cookology, and saw their turnover increase from £7 million to £24 million by 2021.
Orderwise helped them achieve this growth by improving stock accuracy, reducing manual effort, and accelerating their courier booking process by 90%. These efficiency gains saved them £20,000 annually, proving the value of investing in the right tools
Practical advice for wholesalers
Wholesalers operate in a fast-paced environment with unique challenges. Large inventories, complex supplier networks, and time-sensitive orders all demand tailored solutions. Here’s how to tackle these effectively:
- Optimise warehouse layouts: Arrange storage to minimise picking times and reduce errors. Well-organised warehouses directly impact order fulfilment speeds.
- Strengthen supplier relationships: Reliable suppliers mean better lead times and fewer disruptions. Use data to negotiate terms and plan better.
- Streamline order processing: Invest in systems that integrate sales and stock data. This eliminates delays and ensures customers receive what they need, when they need it.
Checklist for success
The fiscal year-end isn’t just a checkpoint; it’s a launchpad. By addressing inefficiencies now, businesses can reduce costs, improve customer satisfaction, and free up resources for growth.
Here’s a quick checklist tailored for wholesalers:
- Analyse sales and stock performance to uncover patterns.
- Identify outdated or disconnected systems that hinder workflows.
- Automate repetitive tasks to free up your team.
- Optimise inventory management with real-time tracking tools.
- Collaborate with suppliers to create more resilient supply chains.
- Set clear operational goals to measure success in the coming year.
Acting now not only ensures smoother operations but also strengthens your business to handle market challenges.
Ready to act?
As the fiscal year-end approaches, it's the perfect time to plan for the year ahead. Why not start a conversation with our team of experts?
Orderwise’s advanced WMS & ERP solutions are built to address the unique needs and requirements of wholesalers. From better stock control to streamlined processes, our integrated tools drive efficiency and profitability. We’ll work with you to understand your goals and identify how our solutions can support your growth.
