Finally getting that time down, but don't know where to nab those extra minutes of save? Well I can try to help you use less time getting lost in your menus! Here's the method of consistent inventory management throughout the run that I use!!! Feel free to make your own modifications, with enough pre-planning you can probably do this any way you want to, but if you're gunning for a top time this is the way I'd recommend you organize your items!
This route doesn't include more than two cups of lifenoodles or more than one brain food lunch, so keep that in mind. Also doesn't account for giving Ness's equipment items to Paula when prepping for the death warp (I recommend you drop them no matter what anyway, they're not that helpful), nor does it account for my alternate nonmanip route of Copper Bracelet, skipping HHV shopping, and buying Great Charms. I also recommend against buying the Toy Air Gun in any route.
Keeping the Franklin Badge on Ness or Jeff for Dept. Store is also a valid strategy, just make sure the amount of Super Bombs across Ness and Jeff equals 9 (buy one fewer BBR's for Jeff, put it on Paula instead), and give the Franklin Badge to Paula when menuing Pre-Shrooom!.
UPDATE 4/9/2018: I've seen the light, this item route now includes the Cloak of Kings! Only a couple minor changes, the solution to add it in was rather simple!