I would lean toward access for a data base as access is 'result' orientated, where excel is 'process orientated'.  I would lean toward using whatever the part numbers are when purchased from the store, makes it MUCH easier when reordering new parts.

Will take some time to set up, I'd start with the equipment, then parts inventoried for each, minimum-max # and put a minimum switch in that would automatically say "order 3 more 'xyz'.  I would also set up a time line so over a given period you would know how many 'xyz' part's are used.

Object is whenever you're headed to town you could print out a report that would say,

"A"   {part#}  2 parts on hand, order 3 more

"B'    {part#} 0 parts on hand, order 5 more

"C"    {part#} 6 parts on hand, 0 needed,