A system for monitoring a fluid, comprising: a first fluid identification station, having a first sensor for detecting a first characteristic of a fluid, wherein the first fluid identification station comprises a first processing unit, characterized by a second fluid identification station, having a second sensor for detecting a second characteristic of the fluid, wherein the first fluid identification station is operably connected to the second fluid identification station such that the second fluid identification station accesses and verifies the first characteristic of the fluid from the first fluid identification station, and the first fluid identification station accesses and verifies the second characteristic of the fluid from the second fluid identification station; wherein the second fluid identification station comprises a second processing unit, wherein the first and second processing units are operably connected via a computer network such that once the first fluid identification station identifies a characteristic of a fluid said first characteristic is stored on said computer network and such that once the second fluid identification station identifies a characteristic of a fluid said second characteristic is stored on said computer network such that any discrepancies in the identification or prescribed therapy of the fluid can be detected; and a third fluid identification station having a third sensor that is connected via the computer network to the first and second fluid identification stations (140, 142), the fluid identification stations (140, 142, 144) being configured to receive a container containing the fluid and detect a characteristic of the fluid when the container is positioned at the third fluid identification station, and to transmit the characteristic of the fluid to the computer network, wherein the system comprises a closed-loop fluid monitoring system that identifies and records the preparation, use, and wasting or re-dispensing of the fluid a first fluid identification station, having a first sensor for detecting a first characteristic of a fluid, wherein the first fluid identification station comprises a first processing unit, characterized by a second fluid identification station, having a second sensor for detecting a second characteristic of the fluid, wherein the first fluid identification station is operably connected to the second fluid identification station such that the second fluid identification station accesses and verifies the first characteristic of the fluid from the first fluid identification station, and the first fluid identification station accesses and verifies the second characteristic of the fluid from the second fluid identification station; wherein the second fluid identification station comprises a second processing unit, wherein the first and second processing units are operably connected via a computer network such that once the first fluid identification station identifies a characteristic of a fluid said first characteristic is stored on said computer network and such that once the second fluid identification station identifies a characteristic of a fluid said second characteristic is stored on said computer network such that any discrepancies in the identification or prescribed therapy of the fluid can be detected; and a third fluid identification station having a third sensor that is connected via the computer network to the first and second fluid identification stations (140, 142), the fluid identification stations (140, 142, 144) being configured to receive a container containing the fluid and detect a characteristic of the fluid when the container is positioned at the third fluid identification station, and to transmit the characteristic of the fluid to the computer network, wherein the system comprises a closed-loop fluid monitoring system that identifies and records the preparation, use, and wasting or re-dispensing of the fluid