Matt, that's always a touchy subject and it keeps getting worse. There are WAY too many components. Keeping track is yet another nightmare.
I'd almost like to use the program Parts and Vendors to keep track of stuff, but nope, not yet. The big problem is keeping track of inventory.
Once you can do that simple tiny Ziplock bags do a nice job. If they are arranged in a long row, you can pretty much organize anything. I buy small Ziplocks by the 1000's. in two sizes. Something 2.5" x 3" for inside dimensions, 2 mill. I tend to transfer what comes in from Mouser, Digikey etc to these smaller envelopes.
Resistors long ago when they were 1/4 to 1W max and leaded were basically put in a big parts drawer, essentially 0-10, 11-99, etc. with ziplocks further refining them. If I had a lot of 1K resistors, they would get their own bag.
I actually use larger Ziplock to store things in too. Except I use the Zipper bags in quart or gallons by hefty.
So, for things like Rivets:
Everything fits in a 1 gallon bag.
Inside you will find the small bags with say 1/8 rivets, a few lengths, a few styles, a few materials.
You might find backing washers and if your lucky drill bits for the rivets. So, there will be a 1/8" drill in the rivet bag. They can be segregated even more with the quart bags inside of the gallon bags.
But then the whole thing falls apart when you have a box of 500 countersunk 1/8" rivets.
In any even the Zipper large bags and the ZIPLOCK smaller bags help a lot.
I tend to organize in many modes and thus i only now what those modes are:
There is the recent mode. or heap. First-In Last-Out
There is the project mode.
Project related items go together.
Then there is the Like Items Mode
Wire nuts
Fasteners
Wire
But, you might find wire or fasteners or Wirenuts in a project box.
When projects are done, the parts will migrate back.
Even drills get messy:
There is fractional, numbered, letter, pilot point bits, hole saws, forestner bits, and 4 foot long flex drill bits.
The first 4 get their own box, As they break they get replaced with cobalt bits.
Then there are chassis punches - again, I have no idea the sizes i have.
Oh and don't forget medical tissue sample corers for punching holes in plastic.
and the masonary bits.
The hole saws get the gallon plastic bag approach. A few and 2 mandrels.
The 4 foot bits go in the ceiling rafters. DO I know the sizes of the hole saws or the flex bits. Nope.
Yep, they all drill holes, but they are very different.
Then we have the Dremel tools and attachments.
They are similar components, but rather different sizes and for all sorts of purposes.
Countersinks and some taps will be found with the Dremel Tools. Why? Dunno.
This just goes to say that one size doesn't fit all and less used parts get stored elsewhere.
I do like the "project" method. and I do like the FIFO method and I also like hiding the less used tools. I might put the rubber band wrench in the plumbing tools or the big pliers or crescent wrench in the plumbing tools.
There is no one way and no easy way! Just wish I could have come up with a way of inventorying the parts/tools with locations early.
PS; Priority mail boxes and rubber bands are useful too. Label with Post-it tape.