[DonRotolo]

We have a very large team.
1. A mentor orders all parts, with a mentor credit card. Students send the mentor a printout of the "shopping cart" from the recommended supplier, the mentor does look for better suppliers. The invoices are submitted about monthly for reibursement.
2. A mentor is treasurer. The school holds the funds for us.
3. We don't have a good inventory, but when someone notices we need more of (something) they submit the order to the mentor.
4. Every year we check the toolboxes and buy whatever's missing. During the build season, we might buy a 'missing' tool, but we do impress upon the students that if they 'lose' a tool, it'll stay gone for a while...the lesson being "don't lose the tools".
We generally don't break tools, with the exception of screwdrivers - we buy several sets from Harbor Freight each year and (literally) throw last year's out, because they are worn. No, we don't keep 'kinda good' ones, they all get tossed (except the oddball stuff, like the #4 philips).