This book gathers selected papers presented at the International Conference on Advances in Applied Probability and Stochastic
Processes, held at CMS College, Kerala, India, on 7-10 January 2019. It showcases high-quality research conducted in the field
of applied probability and stochastic processes by focusing on techniques for the modelling and analysis of systems evolving
with time. Further, it discusses the applications of stochastic modelling in queuing theory, reliability, inventory, financial
mathematics, operations research, and more. This book is intended for a broad audience, ranging from researchers interested
in applied probability, stochastic modelling with reference to queuing theory, inventory, and reliability, to those working
in industries such as communication and computer networks, distributed information systems, next-generation communication
systems, intelligent transportation networks, and financial markets.