True to that! Some businesses are not good with their inventory management, ending they either oversupply such products or having a shortage.
Poor management can also lead to possible loss of potential earnings as not all items are properly audited.
Small scale enterprises usually have these problems as they are either not aware or not trained to do the proper management of their inventory and I agree with you it is not hard but definitely tedious as you need to document each one of them properly to make sure that everything is correct.
RE: The implications of poor inventory turnover management for companies.