I know a lot of shops have multiple benches with color coded tools that belong to color coded benches (yellow wrenches go to the yellow bench, etc), but if you can make the below (or some modified version of it) work in your space, I highly recommend it.
I found this article years ago and tried it out and it worked great with my own personal tool setup. We used it for a while at Community Cycles and I found it especially handy on those days when the shop's humming with activity, and you can find the 15MM wrench just by looking across the room.