Discuss the merits and demerits of annual stock verifications.
Annual stock verifications, while a common practice in inventory management, have both merits and demerits that should be considered when deciding on the approach to inventory planning.
Merits:
1. Accuracy Check: Conducting annual stock verifications helps ensure the accuracy of inventory records. By physically counting and reconciling stock levels with recorded quantities, discrepancies can be identified ______ _____ ______ ________ ___ _______ _______ _________ __________ _____.
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