My best advice is to buy extra supplies when they are on sale in the summer. When January rolls around, your child will probably need more crayons and pencils. You can save a lot of money by buying them now and storing them for later.
I think shelves with backs work the best. Shelves can be labeled with words and/or pictures so that the child knows where to put things back. I've found the baskets just become a dump all and pieces get lost.