I do maintain a somewhat detailed spreadsheet and did start work on a full blown database. The database fell by the wayside since I wasn't really doing anything more complicated than simple one off queries. I'm not really running a business with an eye towards profits so keeping control over inventories is kind of a low priority.
I specifically use the spread sheets to keep tabs on large unique, low turn over, items. Namely, PCB's, cabinets, marquees, CPO art, etc.
Not strictly inventory control but....
From the other end of the spectrum where I'm dealing with non-unique items, items that will rapidly change count, or items that are simply too numerous, I don't keep an inventory at all. I leverage the same techniques my father used. I bin them.
I did have these little drawers similar to
these before my move. But during the process, the drawers sat unused for a short time and eventually were discarded for some forgotten reason. The drawers are great for storing numerous small parts such as IC's, resistors, caps, screws, etc. As long as you label the bins and keep them restocked, it's an awesome way to maintain such tiny parts.
For even smaller parts, like SMT components that aren't used very often, I've been keeping baby food jars (stage 1 jars are perfect) and attaching them to the underside of my shelving or whatever. Larger jars are great for larger often used parts.
For even bigger consumable items like joysticks, buttons, and T-Molding. I box them in labeled file storage boxes on shelves. As I amass additional items to the collection, they will be divided and go straight into the boxes.