In these lecture notes which grew out of my lectures at the Honours classes of Honash University, I have attempted to develop queueing and storage problems from a unified viewpoint. It has been recognized a decade ago that many of the queueing and storage problems belong to the same family of stochastic processes; so a problem in storage theory may bave an analogue in a queueing situation and vice versa. In my notes I have highlighted this aspect and tried to develop a broad perspective in a student rather than to work out in detail the various e~rcises in queueing and inventory problems...