This literature review examines the outcomes of three distinct shortage cases which are ‘no shortages, partially backlogged shortages, and fully backlogged shortages’ within the finite planning horizon. Studies addressing scenarios without shortages usually emphasize equilibrium models, demand forecasting accuracy, and optimal inventory levels. Studies under partially backlogged shortages usually focus on order fulfillment strategies and customer-centric approaches to lighten dissatisfaction due to unmet demand. Fully backlogged shortages usually highlight delayed orders and dynamic fulfillment strategies. Overall, this review focuses on the necessity of agile strategies which are capable of navigating diverse shortage scenarios while maintaining operational efficiency and customer satisfaction.