It really depends on the context. I tend toward not keeping track of water, rations and ammo, unless it will be an issue for some reason, like a long wilderness trek or getting caught in a besieged city.
I do require them to pay for lodgings and meals in town. My players are all into the roleplaying, and two of them really like cooking IRL, so they want to know things like what's on the menu at their current lodgings, what orcs eat for dinner and exactly what provisions are in the kitchen cupboard of the druid BBEG they just killed.
Also, I've got a player who loves to play characters that invent things. His most recent creation is exploding arrows, which use the two barrels of black powder the party found not long ago. He has just paid a blacksmith to make molds for ceramic arrowheads. This player keeps careful track of the special arrows and vials of assorted goo, gunk and bilge he concocts. He doles things out to the party if any of them are willing to take a chance with his dubious inventions.