Spotted via Hackaday this canny hack uses a 16 channel LED driver to light up the draw containing the resistors you're looking for
Hooked up to a wireless sensor and SQL database one only needs to type in the desired part and the location lights up. I have heard that Aaron at Oomlout uses something similar to streamline his packing process, so it might well be worth us exploring. I did however think that the Holtek HT16K33 matrix driver board might be a better choice of I2C device.
The author explains the set up a little on their blog and are looking for a retail store to try the system out in.
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