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A device for managing inventory, such as tools and equipment, includes a user interface in operable communication with a processor and a storage medium; a transceiver in operable communication with an antenna and the processor, the transceiver operable for communicating with a tool or a piece of equ

A device for managing inventory, such as tools and equipment, includes a user interface in operable communication with a processor and a storage medium; a transceiver in operable communication with an antenna and the processor, the transceiver operable for communicating with a tool or a piece of equipment; and a notification device in operable communication with the processor. The processor determines if the tool or the piece of equipment is within a specified range of the device for managing tool and equipment inventory.

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What is claimed is: 1. A computer program product for managing inventory, the computer program product comprising: a storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for facilitating a method comprising: associating an inventory with a

What is claimed is: 1. A computer program product for managing inventory, the computer program product comprising: a storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for facilitating a method comprising: associating an inventory with a device for managing inventory comprising tools and equipment; detecting the presence of the inventory within a specified range of the device for managing inventory; alerting a user to the absence of the inventory within the specified range of the device for managing inventory; and displaying a menu of the device for managing inventory, the menu comprising an option to temporarily check out inventory; wherein when the user prepares to go to field sites for scheduled repairs, the device is operative to associate the tools and equipment that will be required at the field sites; wherein prior to leaving for the field sites, the device is operative to ensure that the user has the tools and equipment for scheduled repairs at the field sites; wherein in response to the user of the device accidentally leaving tools and equipment at one of the field sites, the device is operative to notify the user; wherein the tools and equipment are for making the scheduled repairs at the field sites; wherein in response to the user intending to leave equipment being at least one of a communication box and a communication modem at one of the field sites, the device is operative to disassociate the at least one of the communication box and the communication modem from the inventory; wherein the option to temporarily check out inventory via the menu is configured to allow the user to physically remove a selected inventory of the tools and equipment from the specified range of the device without alerting to the physical absence of the selected inventory; wherein via the menu the device is configured to receive a selection of a duration that the selected inventory is being temporarily checked-out; and in response to the selected inventory not being returned to the specified range of the device for managing inventory before the duration has expired, alerting the user. 2. The computer program product of claim 1 comprising disassociating the inventory with the device for managing inventory. 3. The computer program product of claim 1, wherein alerting a user to the absence of the inventory is responsive to detecting the presence of the inventory within a specified range of the device for managing inventory. 4. The computer program product of claim 1, wherein the inventory includes tools and equipment. 5. A method for managing inventory implemented by a device for managing inventory comprising: associating, by a device, an inventory with the device for managing inventory, the inventory comprising tools and equipment; detecting, by the device, the presence of the inventory within a specified range of the device for managing inventory; alerting, by the device, a user to the absence of the inventory within the specified range of the device for managing inventory; and displaying, by the device, a menu of the device for managing inventory, the menu comprising an option to temporarily check out inventory; wherein when the user prepares to go to field sites for scheduled repairs, the device is operative to associate the tools and equipment that will be required at the field sites; wherein prior to leaving for the field sites, the device is operative to ensure that the user has the tools and equipment for scheduled repairs at the field sites; wherein in response to the user of the device accidentally leaving tools and equipment at one of the field sites, the device is operative to notify the user; wherein the tools and equipment are for making the scheduled repairs at the field sites; wherein in response to the user intending to leave equipment being at least one of a communication box and a communication modem at one of the field sites, the device is operative to disassociate the at least one of the communication box and the communication modem from the inventory; wherein the option to temporarily check out inventory via the menu is configured to allow the user to physically remove a selected inventory of the tools and equipment from the specified range of the device without alerting to the physical absence of the selected inventory; wherein via the menu the device is configured to receive a selection of a duration that the selected inventory is being temporarily checked-out; and in response to the selected inventory not being returned to the specified range of the device for managing inventory before the duration has expired, alerting the user. 6. The method of claim 5 comprising disassociating the inventory with the device for managing inventory. 7. The method of claim 5, wherein a user interface is utilized for associating the inventory with the device for managing inventory. 8. The method of claim 5, wherein a notification device is utilized for alerting the user to the absence of the inventory. 9. The method of claim 8, wherein the notification device is an audible alarm. 10. The method of claim 5, wherein the inventory includes tools and equipment.