This depends on your environment.
If you have mulitple sites, something like this:
B=Optional letters.(probably not needed)
N=Numbers, starting at 1. You can get a feel for the age of the machine at a site based on the #.
C=Machine type, W= workstation, L=Laptop, S=Server, etc.
Typically this would leave you with:
Odds are the 0021 machine should be replaced at some point.
For a single site, if you have the policy of machines being reimaged when being reassigned, you can use names. I am not a huge fan of names on machines.
There are many options, but really the key here is to simplify. What do you need. What do you want. What gives you the best value add. All these are factors only you would know. To answer your question. "Do the management tools in use make a difference in how workstations are named?". These tools can make a huge difference. Generally an inventory management tool will allow you to associate all this important data to the machine outside of the machine name, to the point the name becomes irrelevant. If you can sort a list based on warranty date, location, user, memory installed, CPU speed, it doesn't really matter what the name is.
A man is known by the company he organizes. -- Ambrose Bierce