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Shelley from Taming Frenzy discusses the benefits of maintaining a pantry inventory sheet. Firstly, it allows you to know what you have in your cupboards, pantry, or stockpile, which aids in meal planning. Secondly, it helps identify what items you need when shopping. Most importantly, it prevents unnecessary purchases by indicating what you don't need, helping to avoid spending money on items you already have. Overall, a pantry inventory can lead to better meal planning and reduced food costs.