SPI Power Incorporated (SPI) achieved a remarkable result of 100% accuracy and zero variance in the count of spare parts, consumables, and operating supplies—excluding diesel fuel—underscoring the company’s strong internal controls, accurate recordkeeping, and commitment to operational excellence.
SPI successfully completed its 2025 Annual Physical Inventory Count held from October 13 to 16, 2025 at the storage facilities of the Mindanao Power Plant. The activity was conducted by the Finance and Controlling (FICO) and Technical Services and Material Handling (TSMH) Departments.
The annual count aims to ensure the physical existence and accountability of company assets, verify the accuracy of inventory records, and properly account for any inventory variances. It also ensures that all spare parts and stock items are accurately reflected in the SAP system, that excess materials turned over by contractors remain intact and properly segregated, and that non-stock items are clearly identified and excluded from the official count.
This year’s activity covered a total of 9,437 Stock Keeping Units (SKUs) consisting of spare parts, consumables, and operating supplies. The count was performed by end-users from the Maintenance and Chemical Departments, with independent checking by LLB & Co., CPAs, and encoding and posting handled by the Plant FICO team.