An intelligent inventory storage system for storing and retrieving parts and components packaged on surface mount technology, in short SMT, reels for the assembly of printed circuit boards, in short PCB's, said system comprising: a cart; at least one divider assembly mounted within the cart and providing a plurality of storage slots, each of said storage slots being sized, structured and configured for receipt of at least one SMT reel therein; a plurality of light pipes each being supported within a respective one of the plurality of slots, and each of the light pipes including a cradle structure that is structured and disposed for holding at least one of the SMT reels within the cradle structure, and each of said plurality of light pipes being movable between a stowed position and a release position to allow loading of an SMT reel into the cradle and removal of an SMT reel from the storage slot when in the release position; and each of said plurality of light pipes including a first light entry point, a second light entry point and an outboard end, and each of said plurality of light pipes being structured and disposed to direct light therethrough from the first light entry point to the outboard end and from the second light entry point to the outboard end, and the outboard end being structured to illuminate when light is directed through the first light entry point or the second light entry point; a dual color LED associated with each of the plurality of slots for emitting light therefrom to indicate the location and status of the SMT reel; and the first light entry point of the light pipe being structured and disposed to allow entry of light from the dual color LED when the light pipe is in the stowed position to thereby direct light through the first light entry point and through the light pipe to the outboard end, thereby illuminating the outboard end, and the second light entry point being structured and disposed to allow entry of light from the dual color LED when the light pipe is in the release position to direct light from the dual color LED through the second light entry point and through the light pipe to the outboard end, thereby illumination the outboard end, and wherein the illuminated outboard end visually indicates the location and status of the SMT reel. a cart; at least one divider assembly mounted within the cart and providing a plurality of storage slots, each of said storage slots being sized, structured and configured for receipt of at least one SMT reel therein; a plurality of light pipes each being supported within a respective one of the plurality of slots, and each of the light pipes including a cradle structure that is structured and disposed for holding at least one of the SMT reels within the cradle structure, and each of said plurality of light pipes being movable between a stowed position and a release position to allow loading of an SMT reel into the cradle and removal of an SMT reel from the storage slot when in the release position; and each of said plurality of light pipes including a first light entry point, a second light entry point and an outboard end, and each of said plurality of light pipes being structured and disposed to direct light therethrough from the first light entry point to the outboard end and from the second light entry point to the outboard end, and the outboard end being structured to illuminate when light is directed through the first light entry point or the second light entry point; a dual color LED associated with each of the plurality of slots for emitting light therefrom to indicate the location and status of the SMT reel; and the first light entry point of the light pipe being structured and disposed to allow entry of light from the dual color LED when the light pipe is in the stowed position to thereby direct light through the first light entry point and through the light pipe to the outboard end, thereby illuminating the outboard end, and the second light entry point being structured and disposed to allow entry of light from the dual color LED when the light pipe is in the release position to direct light from the dual color LED through the second light entry point and through the light pipe to the outboard end, thereby illumination the outboard end, and wherein the illuminated outboard end visually indicates the location and status of the SMT reel.