I am trying to design a solution to something I encounted a lot during my hardware development days - keeping track of inventory of small and large parts alike.

I am trying to design a solution to something I encounted a lot during my hardware development days - keeping track of inventory of small and large parts alike. Basically a shelving system with an app which a user can search and the shelf would illuminate the correct bin. My problem is, would this be a viable product for companies? It was always a hassle when I worked in labs but I am not sure if it is a big enough problem to design an entire IoT product around.