Highlights•Strategic consumer behavior has been extensively studied in the Management Science and Operations Management community.•We survey recent developments in the literature and review possible operational strategies and decisions to counteract the adverse impact of strategic consumer behavior.•Specifically, we broadly characterize these decisions into three classes – Pricing, Inventory, and Information – and further discuss the influence of strategic consumer behavior on these decisions and their underlying mechanisms on counteracting consumers’ strategic waiting behavior. Strategic consumer behavior has been extensively studied in the Management Science and Operations Management community. We survey recent developments in the literature and review possible operational strategies and decisions to counteract the adverse impact of strategic consumer behavior. Specifically, we broadly characterize these decisions into three classes – Pricing, Inventory, and Information – and further discuss the influence of strategic consumer behavior on these decisions and their underlying mechanisms on counteracting consumers’ strategic waiting behavior.