Excel does work well for this, but does require some set-up.  We have a couple 
of inventories (food, parts, equipment).  We have standardized the names of 
various storage areas and coded the types of items.  So with Excel one can sort 
by storage area or by type of item or by any field.  You can also search for an 
item.  So if you are looking for #12 wire, you can type it into the search 
field, rather than scanning a list of hundreds of items.  Its also easy to 
print a backup copy.   Simple and Excel has lots of other uses.
 
The real trick is to have the discipline to update the information as stuff is 
moved or used. (This will be true with whatever program you are using.)
 
Bill
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