Aiming at the shortage and backlog of equipment maintenance material, and the inefficiency of equipment distribution system in the current equipment supply system, the integrated optimization of production, inventory and distribution operational links is a critical need. In order to reflect each decision link, the problem was formulated as a MILP with multivariable and multiple constraints. A two-level mathematical-programming-based heuristic was developed to solve it. In an actual example, the proposed model was validated; the algorithm and the CPLEX solver and a similar algorithm were compared and described in aspects of solution quality and computation time. Results show that the proposed model is feasible, and the algorithm exhibits extraordinary performance in solving different scales of instances.