Multiple IHSs (Information Handling Systems) may be installed as components of a chassis that has access to a plurality of storage devices via a chassis management controller. An IHS requests configuration of a virtual storage profile, such as a RAID configuration. A remote access controller of the IHS determines physical storage requirements for implementing the requested virtual storage profile. Based on the physical storage requirements, the chassis management controller selects storage devices from idle storage devices mapped to one of the storage controllers installed in one of the IHSs supported by a chassis management controller. The selected storage devices are mapped to the storage controller and used to implement the virtual storage profile. The chassis management controller manages a global pool of spares from the idle storage device for virtual storage profiles supported by the supported storage controllers.