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Nonlinear systems with periodic variations of nonlinearity and/or dispersion occur in a variety of physical problems and engineering applications. The mathematical concept of dispersion managed solitons already has made an impact on the development of fibre communications, optical signal processing and laser science. We overview here the field of the dispersion managed solitons starting from mathematical theories of Hamiltonian and dissipative systems and then discuss recent advances in practical implementation of this concept in fibre-optics and lasers.