Two sets of categories

Does anyone know of a way or a widget or plugin that will allow us to have two distinct sets of categories for our WordPress site.

Example: One set of categories by product type, and another set of categories by industry type. We would then want to create blog posts and categorize them under their product type AND their industry type — without having one long list of categories showing both.

Site would have two separate dropdown menus – one called Product Category and one called Industry.

Thanks.