IDs- Best Way to Keep Track of Supplies

Do you want an easy way to keep track of supplies in you art class? Here it is.

I keep IDs for all students in my class. They're made out of 3 x 5 index cards. 

The ID’s serve a couple of purposes- one, of which, is borrowing supplies. (I’ll have more posts in the future that explain other purposes.)  If a student needs borrows a special supply that is not in their row’s supply basket, I pull their ID. 

At the end of class, I check the IDs. If an ID is pulled out of the pile, I know that student has a supply that needs to be returned to me.

The ID’s contain the following information:

-NAME
-GRADE
-HOMEROOM,
-HOMEROOM TEACHER
-PARENT/GUARDIANS NAME
-HOME PHONE NUMBER
-TELL ME SOMETHING SPECIAL ABOUT YOU (in case I need an expert in a certain field, I can call on a student to help out)

What do you think? Would using IDs help you keep track of supplies? Would they work in your art class? Let me know what you think?