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This book, now in its second edition, provides a valuable compendium of problems as a reference for undergraduate and graduate students, faculty, researchers and practitioners of operations research and management science. These problems can serve as a basis for the development or study of assignments and exams. Also, they can be useful as a guide for the first stage of the model formulation, i.e. the definition of a problem. The book is divided into 11 chapters that address the following topics: linear programming, integer programming, nonlinear programming, network modeling, inventory theory, queue theory, tree decision, game theory, dynamic programming and Markov processes. Included are a considerable number of statements of operations research applications for management decision-making. The book provides concise solutions to these problems although all problems are examined in depth. All the problems are based on the research experience of the authors in real-world companies and the teaching experience of the authors. This second edition of the book has many new problems and solutions influenced by today's evolving industrial engineering, management and decision-making practices. The book includes many new problems specifically designed to address today's business challenges. The new edition offers readers the opportunity to tackle and analyse new problems inspired by real-life scenarios.