A svstem for storing items and tracking item usage comprising: a tray having a plurality of storage spaces for storing items, one or more of the storage spaces having partitions that are user-adjustable; a control unit configured to store information related to the storage spaces and at least one of an identification and a quantity of the items located in each of the storage spaces and generate transaction records; and a graphical user interface in communication with the control unit, the graphical user interface including a display with a touch-sensitive screen; wherein the control unit is configured to display a virtual layout of the storage spaces.