In summary, we might say that an attempt has been made to trace the major thinking and the major contributions in the field of inventory-control analysis, from its inception in 1912 through the present. Raymond's monumental work, which effectively rounded out the “classical” approach, but left much to be desired, has been discussed. Also noted was the renewed interest in the subject, largely under the impetus of the work of Arrow, Harris and Marschak. The intervening and subsequent work has been traced in some detail