A system and method for holding, transporting, and tracking electronically tagged objects maintained in a portable carrier housing includes a locking mechanism for enabling limited authorized access using a proximity sensor recognizing an identity code of an authorized user, a location tracker for detecting the location of the portable carrier, and an inventory logger registering placement and removal of the electronically tagged objects within and out of the portable carrier housing, registering the location of the portable carrier housing at a time of placement or removal of the electronically tagged object, and registering the identity code of the authorized user within proximity of the proximity sensor. The system further includes a transmitter for uploading data from the inventory logger to a database and a receiver for at least receiving instructions for locking the portable carrier housing when detecting an attempted unauthorized access or detecting a condition indicative of unauthorized access.