Abstract: Systems and Methods for tracking and managing an inventory of consumable products. A system in accordance with the present invention comprises a setup unit, a tracking unit and a reporting unit, and preferably has a database for storing data and is an interactive system accessible via the Internet. The system is used preferably in conjunction with a data collection device capable of reading and storing product bar codes, and transferring data to and receiving data from the main system. A method in accordance with the present invention comprises using the data collection device to read the product bar code of each consumed product unit into the system.