An inventory management device wherein the user inputs a material of known characteristics such as weight, thickness, and width, or length into a computer via user interface. The device calculates the length of the material and displays the remaining coiled length on a display screen. When the user is ready to feed the material, the material is rolled over a feed wheel, which turns a measure wheel. The measure wheel communicates with a computer control chip to deduct the quantity fed off the coil. The actual remaining length is shown on the display screen in real time or near real time. When the user is finished working with the material, the user can select to print a label with a barcode to affix to the material. The barcode contains characteristics of the material so the material can be inventoried and/or reused on the feeder.