One problem that must be avoided whilst deciding on specific inventory management is the acknowledgement that for certain categories of things, there are specialist concerns. For example, for electronic parts, I personally and some organisations I’ve been involved in have had excellent results with partkeepr (https://partkeepr.org/). This has a lot of really useful specialist features for electronic components which really help in making it actually useful enough to add value and use.
At the same time, it seems pretty hopeless as a general tools/assets system. I think where such things are justified, we shouldn’t be too afraid of having multiple systems. A similar area might for example be 3d printing consumables.
On the other hand, we do need a “one true source” of knowledge about capital assets. So, to start the flamewar about this, I propose consideration of the following two options: