Adoption and Diffusion of Hi-Technology Product and Related Inventory Policies

Abstract

The objective of this review article is to study the published research on the inventory modeling and optimization for substitutable technology products with a short product life cycle. This review explains the demand dynamics of technology generation products and how to administer supply chain management of this kind of products than any other functional products. The article does a review of the demand models proposed on the diffusion of innovation products, and then, moves on to the literature review of the multi-item inventory models, followed by the literature review of the inventory modeling of substitutable items. In order to ensure the quality, this study covers the review of the research papers mostly published in reputed SCI or ABDC rated journals. The study discovers that the research that has been done on the inventory optimization of multi generation technology products is not only rare but also very restrictive in its scope and assumptions. The study then proposes the directions for the future research.