The invention relates to a method and system that utilizes one or more cassettes or trays, which hold one or more types of medicaments, the cassettes or trays being configured for intelligent dispensing of the medicaments. In one embodiment, a smart tray for dispensing medicaments includes: a housing; an information storage device that maintains inventory information regarding medicament units in the tray; and a communication device to transfer the inventory information between the information storage device and an external computing apparatus to facilitate inventory maintenance. In a further embodiment, the smart tray includes a mechanism to determine a quantity of medicament units dispensed from the tray to facilitate inventory tracking.