There have been a fair number of discussions on here in the past, Dave.
I reckon you need to sit down and come up with a plan about what you actually want your Library to do.
Is it working OK at the moment ... and (or) do you want it to perform extra tasks?
As long as it's diligently maintained, a basic spreadsheet may be good enough!
But tell us more:- do you have dedicated Library staff (working in the Library only), or do the biomeds get roped in?
Do nursing staff at al
come in to pick up and drop off the kit themselves, or do the Library staff collect and deliver (and then do the rounds each day searching for "lost" items)?
What kind of kit does your Library hold? Lots of infusion pumps and syringe drivers ... or (much) *more than that.
And lastly (for now), are you planning to go down the RFID route?
* I have heard that some places have a system where more-or-less everything gets signed out from the Equipment Library.