In the last decades, there has been many attempts to create maintenance models for availability optimization. Most of them have concentrated on the availability aspect only without incorporating further aspects as logistics and profitability of the overall system. However, production system operator's main intention is to optimize the profitability of the production system and not the availability of the system. The proposed model is aimed overcoming those deficiencies. Main part of the work lies in the extended maintenance and failure module that offers a representation of different maintenance strategies but also incorporates the effect of over-maintaining and failed maintenance (maintenance induced failures). Based on that model, optimizations are performed to maximize availability and profitability of the production system by varying maintenance strategies but also logistics factors. Those optimizations showed that there is a stringent connection between production system availability and logistic decision variables and that financial objective functions are the better optimization criterion than production system availability.