WHO'S DONE WHAT BEFOREHAND?

I came with this in fab aacdemy to have solution for our makerspace and to be fablab, that it should be low cost and open source for other labs to implement. So when i told Neil about my final project, he really liked it and looked forward to it but on the same, i had lot of features like SD card, RTC etc and he suggested to reduce the scope of my project . So i did this much.
There are few companies like tool hound which are working on tool management system but they are expensive systems which not every new or small labs can use , specially when new labs need it since beginning to have an organised system for their most precious asset.
I searched about Tool hound after this idea came to my mind.
I also searched on Fab archive if anyone has done this before, but none except one japanese fabber who was creating cupboards but they were not RFID driven.