A decentralized inventory blockchain would be a tough sell because it's counterintuitive. A company is a centralized institution. Granted that a company can exist in a decentralized industry - look at how many independent convenience stores there are - but a company itself is centralized.
Decentralization is more intuitive for a co-operative, run like an old-style mutual insurance company.
Yea, it seems like one of those ideas where it's possible but just because it's possible doesn't mean it's a good idea. I struggle to find advantages to it.