I have tried organizing fabric in a number of ways but they were too much work to keep in order. Along with some of you, I settled on sorting by color and using the smaller clear bins (larger than a shoe box but smaller than the big storage bins.
It works for me. I sort by color, fold and sometimes press pieces. I then stand the bin on its end on the shelf. I stack the fabric in the bins so I can see what is in there. I think it was a hint from Karen Brown (Just Get it Done Quilts) that inspired me to stack the fabric allowing me to see what I have in that color way without having to take out every piece to find what is on the bottom. Oh, I keep the lids tucked away in a far away part of my double closet. Most colors have more than one bin and from time to time I will empty a bin, (Yeah! ) Then I pop on the lid and use the small bin as a project box. .
The only color I have in a huge green bin is white/cream. I haven't space yet in my closet to move those pieces to a pair of smaller bins.
In the past 6 almost seven years I have eliminated 6 or seven of the big bins and life is so much better. Easier to see what I have, see what I have on hand and then put it to use.
I know it has been mentioned in the past, but it really helps with the depth of fabric to purge what you don't like and what you know you will never put into a project. Donate, donate, donate. It lifts a burden and makes space for what you really want to make use of in your projects.