Which shopping cart or E-commerce software are you planning to use for selling on your web site? Magento, ZenCart and OSCommerce are the leading ones. They are all open source and can be downloaded free. I notice that Magento Catalog Management has "Simple, Configurable (e.g. size, color, etc.), Bundled and Grouped Products". I think you should be able to set up what you need using the Configurable Products option.

Magento Catalog Management

It will be great if you can share the findings of your evaluation back here