According to an embodiment of the present invention, a computer-implemented method for collaborative management of a plurality of modeling tools is described. The method may include receiving, via a processor, a modeling tool request from a user for a modeling tool configured to operate in a spreadsheet application, determining, via an inventory manager, whether a tool record exists matching the modeling tool request, building, via a tool creation module, a new modeling tool configured to operate in the spreadsheet application responsive to determining that a tool record does not exist, and updating, via the inventory manager, a tool record in an inventory database if a tool record does not exist that matches the modeling tool request.