Fifty years of inventory research from a forecasting perspective

This review paper presents a comprehensive analysis of the inventory management research spanning the last fifty years, with a particular focus on forecasting perspectives within the product lifecycle. From initial phases of new product forecasting to the complexities of multi-location and multi-item inventory control to important end-of-life decisions, the review elucidates the progression of the inventory management literature contributions. The paper delves into persistent challenges, including demand uncertainty, substitution effects, capacity constraints, the adoption of circular economic principles and the imperative of sustainability considerations. Despite notable advancements in inventory research, the paper acknowledges existing gaps that warrant attention. By shedding light on both the historical progression and current challenges within inventory research, this review serves as a valuable resource for scholars and practitioners alike, guiding future directions in the field.