{"id":10188,"date":"2026-08-24T02:58:48","date_gmt":"2026-08-24T02:58:48","guid":{"rendered":"https:\/\/scaleocean.com\/ph\/blog\/?p=10188"},"modified":"2026-09-08T01:21:36","modified_gmt":"2026-09-08T01:21:36","slug":"inventory-management","status":"publish","type":"post","link":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management","title":{"rendered":"Inventory Management: Meaning, Types, &#038; Benefits"},"content":{"rendered":"<p><strong>Inventory management refers<\/strong> to the process that consists of planning, purchasing, storing, tracking, and controlling the goods in a warehouse or storage room. This directly maintains products or stock in a good condition and financial balance.<\/p>\n<p>Furthermore inventory management is important to <strong>maintain real-time visibility<\/strong> when products are being moved from the warehouse to other places. This article will help you enhance inventory management with the best solutions for Philippine businesses.<\/p>\n<div class=\"box-article-points\" style=\"background: #0d58a2; border-radius: 16px;\">\n<div class=\"heading-article-points\" style=\"display: flex; color: #fff;\"><img loading=\"lazy\" decoding=\"async\" src=\"\/sg\/blog\/wp-content\/uploads\/2025\/03\/icon-key-ta.webp\" alt=\"stars\" width=\"30\" height=\"30\" \/>Key Takeaways<\/div>\n<div class=\"content-article-points\" style=\"background-color: #f6f9ff;\">\n<ul>\n<li><a href=\"#inventory-management\"><strong>Inventory management<\/strong><\/a> covers planning, purchasing, storing, tracking, and controlling stock to maintain the right inventory levels and avoid unnecessary costs.<\/li>\n<li>For Philippine businesses, <a href=\"#importance-inventory-management\"><strong>proper inventory management can<\/strong><\/a> improve cash flow, operational efficiency, customer service, and resilience against inter-island distribution.<\/li>\n<li><a href=\"#techniques-inventory-management\"><strong>Inventory techniques such as<\/strong><\/a> ABC analysis, JIT, JIC, EOQ, safety stock, reorder points, FIFO, and VMI help businesses make better stocking progress.<\/li>\n<li><a href=\"#scaleocean\"><strong>ScaleOcean Atlas<\/strong><\/a> can automate inventory processes by connecting inventory transactions across other departments with real-time visibility and AI-powered inventory insights.<\/li>\n<\/ul>\n<p><a class=\"cta-link-button\" href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\">Request a Free Demo!<\/a><\/p>\n<\/div>\n<\/div>\n<a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/?web_medium=article-banner\" target=\"_blank\"><picture>\r\n    <source media=\"(max-width: 576px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg-m.webp\">\r\n    <source media=\"(min-width: 577px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg.webp\">\r\n    <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg.webp\" alt=\"requestDemo\" class=\"responsive-image-banner\">\r\n\t<\/picture><\/a>\n<h2><strong>1. What is Inventory Management?<\/strong><\/h2>\n<p><span id=\"inventory-management\"><\/span>Inventory Management is <strong>the systematic process of planning and controlling inventory<\/strong> throughout its lifecycle, such as deciding what to purchase, how much to order, where to store it, when to replenish it, and how to record its movement.<\/p>\n<p>Moreover, the goal isn&#8217;t to stockpile as much as possible, but <strong>to balance product availability<\/strong> against the costs of purchasing, storage, handling, and obsolescence, while giving accurate data for purchasing, sales, production, and accounting decisions.<\/p>\n<p>A <a href=\"https:\/\/doi.org\/10.60087\/jaigs.v6i1.257\" target=\"_blank\" rel=\"nofollow noopener\"><em>JAIGS<\/em><\/a> study shows SMEs adopting IoT-enabled automated inventory tools <strong>improve accuracy by 20-30%<\/strong>, reduce stockouts by 35-45%, and boost forecasting accuracy by ~40% over manual methods.<\/p>\n<p>Therefore, inventory management is especially <strong>beneficial for businesses dealing with perishable goods<\/strong>. It ensures fast-moving stock remains available without risking spoilage from sitting too long in the warehouse.<\/p>\n<h2><strong>2. What are the Types of Inventory?<\/strong><\/h2>\n<p>Inventory can take different forms depending on where products are in the business process. Understanding these, <strong>helps businesses determine how much stock they have and how it should be managed<\/strong>. Here are some of the types of inventory:<\/p>\n<h3>a. Raw Materials<\/h3>\n<p>Raw materials are the<strong> basic materials purchased for manufacturing products<\/strong>. Examples include steel for manufacturers, fabric for clothing companies, or ingredients for food producers.<\/p>\n<p><strong>Businesses need to monitor raw material availability<\/strong> closely because shortages can interrupt production. At the same time, purchasing too much can increase storage costs or create waste, particularly for perishable materials.<\/p>\n<h3>b. Work-in-Progress (WIP)<\/h3>\n<p>Another key inventory type is Work-in-Progress (WIP). This consists <strong>of partially completed products that are currently in the production process<\/strong> and must pass through further stages before they are ready for sale.<\/p>\n<p><strong>For example<\/strong>, a furniture manufacturer may have partially assembled tables waiting for painting or final assembly. Monitoring WIP helps businesses identify production bottlenecks and understand how much capital is currently tied up in unfinished goods.<\/p>\n<h3>c. Finished Goods<\/h3>\n<p>Finished goods are products that<strong> have completed production and are ready for sale or distribution<\/strong>. They represent the final output of the manufacturing process and serve as the main driver of business revenue.<\/p>\n<p>Retailers, wholesalers, and manufacturers need accurate visibility into finished goods to <strong>avoid stockouts and excess inventory<\/strong>. Businesses can use sales history and demand forecasts to determine appropriate stock levels for different products.<\/p>\n<h3>d. MRO Goods<\/h3>\n<p>Maintenance, repair, and operations (MRO) <strong>goods support daily business activities<\/strong> but are generally not included directly in the final product. Their primary function is to prevent operational downtime and ensure workflow routines continue.<\/p>\n<p><strong>Examples include<\/strong> cleaning supplies, lubricants, protective equipment, spare parts, and maintenance tools. Although these items may not generate direct sales, shortages can disrupt warehouse, manufacturing, or office operations.<\/p>\n<h3>e. Safety Stock and Cycle Stock<\/h3>\n<p>Safety stock is<strong> additional inventory maintained<\/strong> as protection against unexpected demand increases, supplier delays, or transportation disruptions. This can be particularly useful for Philippine businesses that depend on inter-island transportation.<\/p>\n<p>Cycle stock, on the other hand, is the inventory<strong> expected to be consumed between regular replenishment cycles<\/strong>. Businesses can determine appropriate cycle stock levels based on demand, order quantities, and supplier lead times.<\/p>\n<h2><strong>3. The Inventory Management Process<\/strong><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-10191 size-full\" src=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process.webp\" alt=\"inventory management process\" width=\"847\" height=\"460\" srcset=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process.webp 847w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process-300x163.webp 300w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process-768x417.webp 768w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process-773x420.webp 773w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process-150x81.webp 150w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-process-696x378.webp 696w\" sizes=\"auto, (max-width: 847px) 100vw, 847px\" \/><\/p>\n<p>Another thing that is important for understanding inventory management is the process of it. It consists of several stages, from purchasing to reconciliation, which affects inventory accuracy. Here are some of<strong> the process of inventory management<\/strong>:<\/p>\n<h3>a. Purchasing and Procurement<\/h3>\n<p><strong>The process begins <\/strong>by determining what products or materials are needed and when they should be purchased. Businesses can use sales trends, demand forecasts, existing stock levels, and reorder points to support purchasing decisions.<\/p>\n<h3>b. Receiving and Inspection<\/h3>\n<p>When goods arrive, employees should<strong> verify the shipment<\/strong> against the purchase order and delivery documents. They may check quantities, packaging, quality, and expiration dates. It also can prevent inaccurate inventory balances to help maintain right stock.<\/p>\n<h3>c. Putaway and Storage<\/h3>\n<p>After inspection, <strong>inventory is placed in its appropriate warehouse location<\/strong>. Effective putaway considers factors such as product type, demand frequency, storage requirements, expiration dates, and available warehouse space.<\/p>\n<h3>d. Tracking and Recording<\/h3>\n<p>The next step when managing goods is <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-tracking\" target=\"_blank\" rel=\"noopener\">inventory tracking<\/a> and recording. Also, this <strong>helps businesses monitor where products are<\/strong>. When doing this, barcode scanning, &amp; QR codes\/RFID can be used to reduce manual data entry and improve visibility.<\/p>\n<h3>e. Forecasting and Replenishment<\/h3>\n<p><strong>Businesses need to estimate future inventory requirements<\/strong> based on historical sales, seasonal demand, market conditions, supplier lead times, and current stock levels. Tracking key metrics like an <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management-kpi\" target=\"_blank\" rel=\"noopener\">inventory management KPI<\/a> helps optimize these forecasts so businesses avoid both stockouts and unnecessary purchases.<\/p>\n<h3>f. Picking, Packing and Fulfillment<\/h3>\n<p><strong>Once customers place orders<\/strong>, inventory must be picked from storage, packed, and prepared for delivery. Accurate inventory records make it easier for employees to identify the correct products and quantities.<\/p>\n<p>For businesses operating across the Philippines, <strong>efficient fulfillment is particularly important<\/strong> when orders need to travel between islands or through multiple distribution points.<\/p>\n<h3>g. Auditing and Reconciliation<\/h3>\n<p>Businesses should periodically compare physical inventory with recorded inventory. This process can identify discrepancies caused by damaged goods, incorrect transactions, or data-entry errors. Also, <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-audit\" target=\"_blank\" rel=\"noopener\">inventory audit<\/a> activities also <strong>help businesses maintain reliable records<\/strong> for financial reporting and tax-related requirements.<\/p>\n<p class=\"quoted-inlink\">\r\n\t<span class=\"quoted-icon\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scaleocean.com\/id\/blog\/wp-content\/uploads\/2025\/02\/blockquoteicon.webp\"><\/span>\r\n\t<span class=\"quoted-text\">Also Read: <a target=\"_blank\" href=\"\">What is Inventory Audit? Definition and Procedures<\/a><\/span>\r\n<\/p>\n<h2><strong>4. The Importance of Inventory Management for Philippine Businesses<\/strong><\/h2>\n<p><span id=\"importance-inventory-management\"><\/span>Understanding the importance of inventory management is particularly relevant for Philippine businesses. It <strong>effectively helps businesses maintain product availability<\/strong> while keeping inventory costs under control.<\/p>\n<p>Further, study on <a href=\"https:\/\/doi.org\/10.30845\/ijbss.v12n10p2\" target=\"_blank\" rel=\"nofollow noopener\"><em>International Journal of Business and Social Science<\/em><\/a>, found that the effective inventory management helps Philippine businesses balance product availability, operating costs, and working capital. <strong>The key benefits include<\/strong>:<\/p>\n<ul>\n<li><strong>Protects Cash Flow:<\/strong> Inventory represents money that has already been spent. Keeping excessive stock ties up capital in unsold products, which is also reflected when filing your <a href=\"https:\/\/scaleocean.com\/ph\/blog\/document-templates\/inventory-list-bir\" target=\"_blank\" rel=\"noopener\">Inventory BIR List<\/a>, while poor planning can lead to expensive last-minute purchases.<\/li>\n<li><strong>Keeps Daily Operations:<\/strong> Employees work more efficiently when they can quickly see what products are available. Accurate inventory records can reduce picking mistakes or other issues that slow down warehouse operations.<\/li>\n<li><strong>Improves Customer Service:<\/strong> Few things frustrate customers when the products they want are out of stock. Therefore, accurate inventory information helps businesses maintain product availability and provide customers with more reliable information.<\/li>\n<li><strong>Supports Inter-island Distribution:<\/strong> Businesses serving customers across Luzon, Visayas, and Mindanao may face longer lead times due to shipping schedules, weather conditions, and other logistics factors. Besides, it helps maintain safety stock and prevent stockouts during delays.<\/li>\n<li><strong>Improves inventory visibility:<\/strong> Centralized and accurate inventory records allow businesses to see stock levels across warehouses, branches, and distribution locations.<\/li>\n<li><strong>Builds resilience against disruptions:<\/strong> The Philippines is exposed to earthquakes or other events that can affect suppliers and transportation. Maintaining appropriate safety stock and having alternative sourcing or distribution plans can help businesses continue serving customers.<\/li>\n<\/ul>\n<h2><strong>5. How Inventory Management Differs from Related Functions<\/strong><\/h2>\n<p>Inventory management overlaps with several other business functions, but each has a different focus. Following is <strong>the summary of how inventory management is different from other related functions<\/strong>:<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0;\">\n<thead>\n<tr style=\"background-color: #002141;\">\n<th style=\"padding: 10px; color: white; border: 1px solid #dddddd; text-align: center; white-space: nowrap; min-width: 120px;\">Function<\/th>\n<th style=\"padding: 10px; color: white; border: 1px solid #dddddd; text-align: center;\">Order Picking<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #dddddd; text-align: left;\"><strong>Inventory Management<\/strong><\/td>\n<td style=\"padding: 10px; border: 1px solid #ddd;\">Planning, purchasing, storing, tracking, replenishing, and optimizing inventory<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #dddddd; text-align: left;\"><strong>Inventory Control<\/strong><\/td>\n<td style=\"padding: 10px; border: 1px solid #ddd;\">Maintaining accurate stock quantities, locations, and conditions while minimizing discrepancies<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #dddddd; text-align: left;\"><strong>Warehouse Management<\/strong><\/td>\n<td style=\"padding: 10px; border: 1px solid #ddd;\">Managing warehouse operations such as receiving, putaway, picking, packing, and storage<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #dddddd; text-align: left;\"><strong>Material Management<\/strong><\/td>\n<td style=\"padding: 10px; border: 1px solid #ddd;\">Managing materials and resources needed for production, including procurement and material availability<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #dddddd; text-align: left;\"><strong>Supply Chain Management<\/strong><\/td>\n<td style=\"padding: 10px; border: 1px solid #ddd;\">Coordinating the broader flow of materials, information, suppliers, logistics, and customers<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>a. Inventory Management vs. Inventory Control<\/h3>\n<p>Inventory management takes <strong>a broader approach by planning<\/strong> how much stock a business should have and when it should be purchased or replenished. It considers factors such as demand or storage capacity to keep inventory at an optimal level.<\/p>\n<p>Meanwhile, <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-control\" target=\"_blank\" rel=\"noopener\">inventory control<\/a> focuses more specifically on maintaining inventory accuracy and controlling stock movements. It helps <strong>ensure that the physical inventory matches <\/strong>recorded quantities and that stock is properly accounted for.<\/p>\n<h3>b. Inventory Management vs. Warehouse Management<\/h3>\n<p><strong>Inventory management focuses <\/strong>on the overall availability and optimization of stock. While warehouse management focuses on what happens inside the warehouse, including how goods are received, stored, picked, and dispatched.<\/p>\n<p><strong>For example<\/strong>, inventory management may determine how much stock should be maintained, while warehouse management determines where that stock should be stored and how employees should pick it.<\/p>\n<h3>c. Inventory Management vs. Materials Management<\/h3>\n<p>Materials management is generally<strong> concerned with ensuring the materials required for<\/strong> <strong>production <\/strong>are available when needed. It can cover procurement, material planning, storage, and movement.<\/p>\n<p><strong>Inventory management has a wider application<\/strong> and can cover raw materials, WIP, finished goods, spare parts, and other inventory categories. It focuses on maintaining the right inventory levels throughout the business.<\/p>\n<h3>d. Inventory Management vs. Supply Chain Management<\/h3>\n<p><strong>Supply chain management covers a broader network<\/strong>, including suppliers, procurement, manufacturing, inventory, and customers. Its goal is to coordinate the movement of goods, information, and resources across the entire supply chain.<\/p>\n<p><strong>Meanwhile inventory management<\/strong> is therefore one important component of supply chain management rather than a replacement for it. Effective inventory management supports the wider supply chain by helping businesses maintain product availability.<\/p>\n<a href=\"https:\/\/scaleocean.com\/ph\/solution\/warehouse-management-system?web_medium=article-banner\" target=\"_blank\"><picture>\r\n    <source media=\"(max-width: 576px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Warehouse-SG-Mobile-400x500-1.webp\">\r\n    <source media=\"(min-width: 577px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Warehouse-SG-Dekstop.webp\">\r\n    <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Warehouse-SG-Dekstop.webp\" alt=\"Warehouse\" class=\"responsive-image-banner\">\r\n\t<\/picture><\/a>\n<h2><strong>6. Core Inventory Management Techniques<\/strong><\/h2>\n<p><span id=\"techniques-inventory-management\"><\/span>Businesses can use different techniques depending on their products, demand patterns, supplier relationships, and operating model. Below here are several<strong> inventory management techniques <\/strong>for handling warehouse easily:<\/p>\n<h3>a. ABC Analysis<\/h3>\n<p><strong>ABC analysis classifies inventory according to its value or importance<\/strong>. Below are some of the techniques usually used during management which allows businesses to focus their resources on the inventory that has the greatest financial or impact.<\/p>\n<ul>\n<li><strong>A items:<\/strong> High-value or critical items requiring close monitoring.<\/li>\n<li><strong>B items:<\/strong> Medium-value items requiring regular management.<\/li>\n<li><strong>C items:<\/strong> Lower-value items that can be managed with simpler controls.<\/li>\n<\/ul>\n<h3>b. Just-in-Time (JIT) and Just-in-Case (JIC)<\/h3>\n<p>Secondly, techniques that are commonly used for managing inventory are JIT and JIC. JIT or Just-in-Time aims <strong>to receive inventory close to when it is needed<\/strong>, reducing storage requirements and excess stock.<\/p>\n<p>Meanwhile, JIC or stand also known as Just-in-Case is <strong>to maintain additional inventory<\/strong> as protection against unexpected demand, supplier delays, or disruptions. Therefore, Philippine businesses may use a combination of both approaches depending on the reliability of suppliers and transportation networks.<\/p>\n<h3>c. Economic Order Quantity (EOQ)<\/h3>\n<p>Economic Order Quantity (EOQ) is a technique that <strong>helps businesses estimate the ideal order quantity <\/strong>by balancing ordering and holding costs. EOQ is most useful when demand and costs are relatively predictable. Below here simplified EOQ formula:<\/p>\n<div style=\"background-color: #002141; color: #ffffff; width: 100%; padding: 20px 0; box-sizing: border-box; text-align: center;\">\n<p style=\"font-size: 20px; font-weight: bold; margin: 0px; padding: 15px 20px; color: #ffffff !important; text-align: center;\" contenteditable=\"true\">EOQ = \u221a(2DS\/H)<\/p>\n<\/div>\n<p>Where:<\/p>\n<ul>\n<li><strong>D <\/strong>= Annual demand<\/li>\n<li><strong>S <\/strong>= Ordering cost per order<\/li>\n<li><strong>H <\/strong>= Annual holding cost per unit<\/li>\n<\/ul>\n<h3>d. Safety Stock and Reorder Point<\/h3>\n<p>Safety stock<strong> protects against unexpected demand or supply delays<\/strong>. The reorder point determines when a new order should be placed. With this, businesses can adjust these calculations according to supplier reliability or transportation conditions. The formula is:<\/p>\n<div style=\"background-color: #002141; color: #ffffff; width: 100%; padding: 20px 0; box-sizing: border-box; text-align: center;\">\n<p style=\"font-size: 20px; font-weight: bold; color: #ffffff !important; margin: 0; padding: 15px 20px;\" contenteditable=\"true\">Reorder Point = Average Demand During Lead Time + Safety Stock<\/p>\n<\/div>\n<h3>e. FIFO and LIFO<\/h3>\n<p>Other important techniques are FIFO and LIFO. FIFO or First-In, First-Out assumes <strong>the oldest inventory is sold or used first<\/strong>. It can be particularly practical for products with expiration dates.<\/p>\n<p>Additionally, Last-In, First-Out (LIFO) assumes <strong>the newest inventory is sold or used first<\/strong>. However, businesses should consider applicable accounting standards and tax rules before selecting an inventory valuation approach.<\/p>\n<p>Therefore, <strong>when performing these calculations<\/strong>, businesses should review their <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-valuation\" target=\"_blank\" rel=\"noopener\">inventory valuation<\/a> methods to ensure inventory costs are accurately reflected in financial statements, in line with applicable reporting standards.<\/p>\n<h3>f. Vendor-Managed Inventory and Consignment<\/h3>\n<p>In addition, Vendor-Managed Inventory (VMI) and Consignment is also significant to manage inventory. Under Vendor-Managed Inventory suppliers<strong> monitor customer inventory and take responsibility<\/strong> for replenishment based on agreed arrangements.<\/p>\n<p>Moreover, Consignment inventory<strong> allows products to remain owned by the supplier until they are sold<\/strong> under the agreed terms. Both approaches can reduce the inventory burden on customers while improving product availability when properly coordinated.<\/p>\n<h2><strong>7. Inventory Management Challenges in the Philippines<\/strong><\/h2>\n<p>Philippine businesses face several inventory challenges that are closely connected <strong>to geography, logistics, and technology adoption<\/strong>. The following guide covers key inventory management challenges in the Philippines and effective ways to solve them:<\/p>\n<h3>a. Inter-Island Distribution<\/h3>\n<p>Moving goods between Luzon, Visayas, and Mindanao can involve multiple transportation modes and longer lead times. Weather conditions or road transportation can also affect delivery times. Therefore, businesses<strong> may need to adjust safety stock and replenishment plans<\/strong> based on the reliability of routes.<\/p>\n<h3>b. Prone to Traditional Disasters<\/h3>\n<p>Because the Philippines is highly vulnerable to natural hazards like earthquakes and flooding that makes supply chains and customer demand can easily be disrupted. Inventory strategies must therefore <strong>incorporate contingency planning<\/strong> for critical products.<\/p>\n<h3>c. Serving Traditional Trade and Sari-Sari Channels<\/h3>\n<p>Many businesses serve traditional retail channels, including sari-sari stores, independent retailers, and distributors. These channels can involve <strong>frequent deliveries and different order sizes<\/strong>. Further, maintaining accurate stock records becomes important for preventing both overstocking and missed sales opportunities.<\/p>\n<h3>d. Reliance on Manual Spreadsheets<\/h3>\n<p>Inventory can be lost because of theft, damaged goods, incorrect receiving, or other discrepancies. Regular stock counts, <strong>access controls, barcode scanning, and transaction histories<\/strong> can help businesses identify where differences occur.<\/p>\n<h3>e. Shrinkage and Pilferage<\/h3>\n<p>Discrepancies like theft, receiving mistakes, and unrecorded returns cost businesses money. Implementing <strong>barcode scanning, access controls, and routine stock counts<\/strong> makes it easy to track where losses happen.<\/p>\n<h3>f. Multi-Branch Visibility Across Islands<\/h3>\n<p>Businesses operating multiple branches need to know<strong> how much inventory is available at each location<\/strong>. A centralized inventory system can help businesses monitor stock across locations and make more informed transfers.<\/p>\n<h2><strong>8. Inventory Management and BIR Compliance<\/strong><\/h2>\n<p>Inventory records are also <strong>relevant to tax compliance in the Philippines<\/strong>. Businesses should maintain accurate documentation and ensure their inventory records can be reconciled with accounting and financial records.<\/p>\n<h3>a. The Annual Inventory List Requirement<\/h3>\n<p><strong>The Bureau of Internal Revenue requires<\/strong> businesses that maintain inventory to submit a summary list, or schedule, of their stock as of the close of each taxable year. This requirement, originally set out under <a href=\"https:\/\/elibrary.judiciary.gov.ph\/thebookshelf\/showdocs\/10\/91872\" target=\"_blank\" rel=\"nofollow noopener\">Revenue Memorandum Circular No. 57-2015<\/a>.<\/p>\n<p><strong>For calendar-year taxpayers<\/strong>, the annual inventory list is generally due within 30 days following the close of the taxable year. For example, an inventory list covering December 31, 2025 would generally be due by January 30, 2026, subject to applicable BIR rules and subsequent issuances.<\/p>\n<h3>b. Who Must File and Which Annex Format Applies<\/h3>\n<p><strong>This requirement applies to all businesses carrying stock<\/strong>, regardless of size. Filing templates vary by business type, and <a href=\"https:\/\/www.bir.gov.ph\/2023-Revenue-Memorandum-Circulars?q=1901\" target=\"_blank\" rel=\"nofollow noopener\">RMC No. 8-2023<\/a> mandates a notarized sworn certification.<\/p>\n<p>Since the exact annex format can be revised in future circulars, businesses should <strong>confirm the current version<\/strong> with their accountant or the BIR before preparing their submission.<\/p>\n<h3>c. Deadlines and Penalties<\/h3>\n<p>The inventory list is generally<strong> due within 30 days after the close of the taxable year<\/strong>. Under RMC No. 8-2023, it is now submitted as a soft copy on a DVD-R or USB flash drive with a notarized certification, rather than the hard-and-soft-copy combination previously required.<\/p>\n<p>However,<strong> late or non-submission is treated as a failure<\/strong> to comply with an information reporting requirement under the Tax Code, which can carry compromise penalties and invites closer BIR scrutiny of the business&#8217;s declared sales and cost figures.<\/p>\n<h3>d. How Accurate Records Support a BIR Audit<\/h3>\n<p><strong>Accurate inventory records<\/strong> make it easier to reconcile physical stock, inventory listings, accounting records, purchases, and financial statements. Businesses should therefore avoid treating the annual inventory list as a year-end administrative task only.<\/p>\n<p>Maintaining <strong>accurate records<\/strong> throughout the year makes reconciliation easier and can help explain differences during a BIR audit. For the official requirements, businesses can refer to the <a href=\"https:\/\/www.bir.gov.ph\/2023-Revenue-Memorandum-Circulars?q=1901\" target=\"_blank\" rel=\"nofollow noopener\">BIR&#8217;s RMC No. 8-2023<\/a> and the BIR&#8217;s inventory reporting guidelines.<\/p>\n<h2><strong>9. What is Inventory Management System?<\/strong><\/h2>\n<p>An inventory management system is software that automates the tracking, recording, and reporting of stock movements across a business, replacing manual counts and spreadsheets with real-time data.<\/p>\n<p>While many businesses <strong>rely on spreadsheets to track inventory<\/strong>, this approach becomes unsustainable as they scale. Eventually, these blind spots cause unexplainable losses from stockouts and overstocking.<\/p>\n<p>Understanding how an inventory management system works makes it much easier to choose the right tools for your business.<strong> For businesses operating locally<\/strong>, using dedicated <a href=\"https:\/\/scaleocean.com\/ph\/blog\/recommendation\/inventory-management-software-philippines\" target=\"_blank\" rel=\"noopener\">Philippines&#8217; inventory management software<\/a> ensures your stock tracking seamlessly aligns with local compliance and operational needs.<\/p>\n<h2><strong>10. Inventory Management Best Practices<\/strong><\/h2>\n<p>Effective inventory management requires more than recording stock. Businesses should create consistent processes that connect inventory data with purchasing, sales, warehouse, and financial activities. <strong>Some practical best practices include<\/strong>:<\/p>\n<ul>\n<li><strong>Set clear inventory policies:<\/strong> Define procedures for receiving, storage, transfers, adjustments, returns, and stock counts.<\/li>\n<li><strong>Use SKU standards:<\/strong> Give products consistent codes and descriptions to minimize duplicate or confusing records.<\/li>\n<li><strong>Classify inventory:<\/strong> Use ABC analysis or similar methods to determine which items require closer monitoring.<\/li>\n<li><strong>Establish reorder points:<\/strong> Set minimum stock levels based on demand, lead times, and safety stock requirements.<\/li>\n<li><strong>Track inventory in real time:<\/strong> Record purchases, sales, transfers, returns, damages, and adjustments as they occur.<\/li>\n<li><strong>Conduct regular stock counts:<\/strong> Compare physical inventory with system records to identify discrepancies early.<\/li>\n<li><strong>Monitor slow-moving inventory:<\/strong> Identify products that occupy warehouse space without generating sufficient sales.<\/li>\n<li><strong>Apply appropriate inventory valuation:<\/strong> Use consistent and compliant methods when calculating inventory costs for financial reporting.<\/li>\n<li><strong>Review inventory KPIs:<\/strong> Monitor metrics such as inventory turnover, stockout rate, carrying cost, order accuracy, and inventory accuracy.<\/li>\n<\/ul>\n<p>Overall, <strong>these practices help businesses keep inventory accurate<\/strong>, maintain appropriate stock levels and reduce unnecessary costs. By combining clear inventory policies and performance measurement, businesses can make more informed purchasing decisions.<\/p>\n<h2><strong>11. ScaleOcean Atlas Simplifies Inventory Management for Philippine Businesses<\/strong><\/h2>\n<p><a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7966 size-full\" src=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977.webp\" alt=\"Inventory management with ScaleOcean WMS Software\" width=\"1925\" height=\"1210\" srcset=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977.webp 1925w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-300x189.webp 300w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-1024x644.webp 1024w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-768x483.webp 768w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-1536x965.webp 1536w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-668x420.webp 668w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-150x94.webp 150w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-696x437.webp 696w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-1068x671.webp 1068w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/03\/Optimize-Warehouse-Slotting-with-ScaleOcean-WMS-Software-1-e1774951585977-1920x1207.webp 1920w\" sizes=\"auto, (max-width: 1925px) 100vw, 1925px\" \/><\/a><\/p>\n<p><span id=\"scaleocean\"><\/span>Keeping inventory records accurate becomes harder as a business grows. Which means <strong>more warehouses, SKUs, purchases, returns, and stock transfers <\/strong>that leads to more transactions to monitor, making manual updates time-consuming and more prone to errors.<\/p>\n<p><a href=\"https:\/\/scaleocean.com\/ph\/solution\/warehouse-management-system\" target=\"_blank\" rel=\"noopener\"><strong>The Inventory module of ScaleOcean Atlas<\/strong><\/a> helps businesses simplify these tasks by automatically updating inventory records as transactions happen. Whether stock is purchased, sold, returned, or transferred, teams can get a clearer view of what is available and where it is located.<\/p>\n<p>But inventory management is not only about knowing how much stock is available. <strong>ScaleOcean Atlas equipped with ScaleMind<\/strong>, an AI-powered feature that analyzes inventory data, identifies unusual stock movements, and provides insights that can support replenishment and planning decisions.<\/p>\n<p><a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\"><strong>Schedule a consultation<\/strong><\/a> and explore how ScaleOcean Atlas can improve inventory accuracy and visibility. Key features include:<\/p>\n<ul>\n<li><strong>Real-Time Inventory Tracking:<\/strong> See stock levels and movements as purchases, sales, returns, and transfers take place.<\/li>\n<li><strong>Automated Inventory Recording:<\/strong> Reduce manual work by connecting purchasing, sales, warehouse, and accounting transactions.<\/li>\n<li><strong>Integrated Procurement and Accounting:<\/strong> Bring purchasing, inventory, sales, and finance together while recording inventory costs and COGS.<\/li>\n<li><strong>Barcode and RFID Integration:<\/strong> Speed up product identification and stock movements while reducing data-entry mistakes.<\/li>\n<li><strong>Batch and Lot Traceability:<\/strong> Track products by batch or lot to support stock rotation and manage expiration dates.<\/li>\n<li><strong>AI-Powered Inventory Insights:<\/strong> Let ScaleMind analyze inventory trends and unusual movements to support smarter replenishment and planning.<\/li>\n<\/ul>\n<h2><strong>12. In Conclusion<\/strong><\/h2>\n<p>Inventory management is an <strong>essential business function<\/strong> that helps companies maintain the right stock levels, reduce unnecessary costs, prevent stockouts, and improve operational visibility.<\/p>\n<p>For Philippine businesses, these responsibilities <strong>become even more important <\/strong>because of inter-island distribution, imported goods, traditional trade channels, disaster risks, and multi-branch operations.<\/p>\n<p>As operations grow, businesses may also benefit from moving beyond spreadsheets toward an integrated system. The <strong>inventory module of ScaleOcean Atlas<\/strong> can help centralize inventory data, automate stock-related processes, and connect inventory management with purchasing, warehouse, sales, and accounting operations.<\/p>\n<p>If you want to improve inventory visibility and control across your Philippine business, explore the inventory module of ScaleOcean Atlas. You can <a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\"><strong>schedule consultation<\/strong><\/a> with our experts to see how it can maximize your business processes.<\/p>\n<div class=\"faq-content\">\n<h2>FAQ:<\/h2>\n<details>\n<summary>1. What is meant by inventory management?<\/summary>\n<p>Inventory management is the process of ordering, storing, tracking, and controlling stock to ensure businesses have the right products available at the right time and quantity.<\/p>\n<\/details>\n<details>\n<summary>2. What are the 5 steps of inventory management?<\/summary>\n<p>The five steps are demand planning, purchasing and receiving, storage, order fulfillment, and inventory tracking and auditing. Together, they help businesses maintain accurate and sufficient stock.<\/p>\n<\/details>\n<details>\n<summary>3. What are the 5 benefits of inventory management?<\/summary>\n<p>Inventory management can reduce costs, prevent stockouts, improve customer satisfaction, increase operational efficiency, and support better purchasing and inventory decisions.<\/p>\n<\/details>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Inventory management refers to the process that consists of planning, purchasing, storing, tracking, and controlling the goods in a warehouse or storage room. This directly maintains products or stock in a good condition and financial balance. Furthermore inventory management is important to maintain real-time visibility when products are being moved from the warehouse to other [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":10190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"powered_cache_disable_cache":false,"footnotes":""},"categories":[115],"tags":[119,33],"class_list":["post-10188","post","type-post","status-publish","format-standard","has-post-thumbnail","category-industry","tag-warehouse","tag-warehouse-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Is Inventory Management? Types, Benefits &amp; Best Practices<\/title>\n<meta name=\"description\" content=\"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is Inventory Management? Types, Benefits &amp; Best Practices\" \/>\n<meta property=\"og:description\" content=\"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management\" \/>\n<meta property=\"og:site_name\" content=\"ScaleOcean Philippines\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-24T02:58:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-08T01:21:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-meaning-types-benefits.webp?wsr\" \/>\n\t<meta property=\"og:image:width\" content=\"1866\" \/>\n\t<meta property=\"og:image:height\" content=\"1163\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Yulia Andini\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yulia Andini\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"17 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management\",\"url\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management\",\"name\":\"What Is Inventory Management? Types, Benefits & Best Practices\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/inventory-management-meaning-types-benefits.webp?wsr\",\"datePublished\":\"2026-08-24T02:58:48+00:00\",\"dateModified\":\"2026-09-08T01:21:36+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/#\\\/schema\\\/person\\\/60d115bfc347a569cfd9dad1d2cef9d0\"},\"description\":\"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management#primaryimage\",\"url\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/inventory-management-meaning-types-benefits.webp?wsr\",\"contentUrl\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/inventory-management-meaning-types-benefits.webp?wsr\",\"width\":1866,\"height\":1163,\"caption\":\"inventory management meaning types benefits\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/industry\\\/inventory-management#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inventory Management: Meaning, Types, &#038; Benefits\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/\",\"name\":\"ScaleOcean Philippines\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/scaleocean.com\\\/ph\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What Is Inventory Management? Types, Benefits & Best Practices","description":"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management","og_locale":"en_US","og_type":"article","og_title":"What Is Inventory Management? Types, Benefits & Best Practices","og_description":"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.","og_url":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management","og_site_name":"ScaleOcean Philippines","article_published_time":"2026-08-24T02:58:48+00:00","article_modified_time":"2026-09-08T01:21:36+00:00","og_image":[{"width":1866,"height":1163,"url":"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-meaning-types-benefits.webp?wsr","type":"image\/webp"}],"author":"Yulia Andini","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yulia Andini","Est. reading time":"17 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management","url":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management","name":"What Is Inventory Management? Types, Benefits & Best Practices","isPartOf":{"@id":"https:\/\/scaleocean.com\/ph\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management#primaryimage"},"image":{"@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management#primaryimage"},"thumbnailUrl":"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-meaning-types-benefits.webp?wsr","datePublished":"2026-08-24T02:58:48+00:00","dateModified":"2026-09-08T01:21:36+00:00","author":{"@id":"https:\/\/scaleocean.com\/ph\/blog\/#\/schema\/person\/60d115bfc347a569cfd9dad1d2cef9d0"},"description":"Inventory management is the process of planning, storing, tracking, and controlling stock to ensure product availability.","breadcrumb":{"@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management#primaryimage","url":"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-meaning-types-benefits.webp?wsr","contentUrl":"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/08\/inventory-management-meaning-types-benefits.webp?wsr","width":1866,"height":1163,"caption":"inventory management meaning types benefits"},{"@type":"BreadcrumbList","@id":"https:\/\/scaleocean.com\/ph\/blog\/industry\/inventory-management#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/scaleocean.com\/ph\/blog\/"},{"@type":"ListItem","position":2,"name":"Inventory Management: Meaning, Types, &#038; Benefits"}]},{"@type":"WebSite","@id":"https:\/\/scaleocean.com\/ph\/blog\/#website","url":"https:\/\/scaleocean.com\/ph\/blog\/","name":"ScaleOcean Philippines","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/scaleocean.com\/ph\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/posts\/10188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/comments?post=10188"}],"version-history":[{"count":6,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/posts\/10188\/revisions"}],"predecessor-version":[{"id":10416,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/posts\/10188\/revisions\/10416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/media\/10190"}],"wp:attachment":[{"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/media?parent=10188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/categories?post=10188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scaleocean.com\/ph\/blog\/wp-json\/wp\/v2\/tags?post=10188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}