Great use case! I did a tool inventory management use case once, with the underlying platform [1].
It starts with generating QR codes for sticker papers [2], from the app. Those never expire and are all different (v4 UUID). You can then assign a QR to any new item, then scan it for registration in the app, specifying room, drawer, etc. (and gps, picture, etc. if needed).
You can browse tools per room, drawer, etc., and scan anytime to record an update. Each tool gets a history trail.
You can even make data-entry easier by making special QR codes for drawers; scanning them fills some form fields with presets, so you don't have to manually select stuff and make mistakes.
I mostly see use-cases where other people scan a QR you made, but there are use cases where the QR codes are only ever scanned by you and your staff.
[1] https://admin.trak.codes/ [2] https://share.darkaa.com/!9DXEQQTg2z/trak-qr-codes-demo-hn.p...