Most Efficient/Smartest Way to Make an Item Equipping System?

I have some ideas on how to do this (and I’ve done it before), but I’m not sure if they’re very efficient. What do you guys think is the best way to handle an item buy + equip system, and what’s your way of saving them?

In my game, I want it so that only one tool can be equipped at a time. (one primary, one secondary, one melee)

If it works then it should be fine, as long as it’s not taking over 3 to 5 seconds.
Equipping systems doesn’t need superoptimization.

Sorry; I meant optimal as in most efficient/ smartest

I should change the title.