Product variety has received great attention from industry and academia, where the determination of the number to be offered to the final customer is an important decision for the business strategies of companies. There is a clear trend in the proliferation of this variety, however, the impacts generated by this increase are prompting companies to seek different ways to manage it, on both supply and demand. Despite the existence of important studies on the subject, the academic literature reveals the absence of a survey that summarizes the state of the art on the Product Variety Management (PVM). As a result, this research aims, through a systematic review, to develop a content analysis on GVP, using publications between the years 2005 and 2009 presented in a specific electronic database (Elsevier). The review is guided by a conceptual model (framework) proposed that includes inputs for a PVM, i.e., the various internal and external pressures for companies to increase or reduce the product variety offered, the different ways to handle these different pressures (structure and process) and outputs, outcomes that are expected with a good management. The framework also includes a fourth dimension that incorporates the context in which the articles developed their research. The results suggest that the proposed framework is able to address major topics related to Product Variety Management, assisting in the development of systematic reviews, identifying the issues broadly addressed and the gaps that deserve special attention by the academy for future research.