In the bicycle shop where I work, each tool board has its own colour of tape wrapped around every tool - this helps people to know where to replace tools when they're done using them.
Another solution I heard from another mechanic was that each person had a set of numbered (or initialled) tags (just small ones like on a keyring) - every time they took a ...
A place for everything and everything in its place.
You mentioned that you tried to use Tile (an audible signal device) to locate items; but, that its efficiency is limited due to the high noise level of the workplace.
Visible storage may be the solution to your problem. Display tools so that you can see which ones are in stock/storage and which ones aren'...
My suggestion is to duplicate the cheap stuff and everyone has their own personal lockable tool bag/box they are responsible for.
The expensive stuff could be tracked via Bluetooth (Tile). If it does get misplaced, you can quickly find it.