252 Copyright © 2018, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. Chapter 12 DOI: 10.4018/978-1-5225-2944-6.ch012 ABSTRACT This chapter initially presents a brief information about production systems. At these systems, diferent types of maintenance policies are developed to cope with wear out failures. Mainly used maintenance policies can be classifed as corrective, preventive, and condition-based maintenance. In the corrective maintenance, repair or replacement is applied whenever components of the machine breakdown. In the preventive maintenance approach maintenance activities are applied to the critical components on a periodic basis. On the other hand, maintenance activities are applied whenever critical reliability level is reached or exceeded. These types of maintenance policies are modeled using mathematical modeling techniques such as linear programming, goal programming, dynamic programming, and simulation. A review of current literature about the mathematical models, the simulation-based optimization studies examining these maintenance policies are categorized and explained. Besides, the solution methodolo- gies are discussed. Finally, the opportunities for future research are presented. INTRODUCTION Manufacturing environment and production technologies evolved rapidly in the past few decades. Proper maintenance has been drawing more and more attention to sustain the manufacturing systems’ reliabil- ity, maintainability and availability. However, the maintenance cost can even reach 15 to 70% of the total expenditures (Madu 2000, Mobley 2002, Wang, Chu, & Mao, 2008). Although the maintenance was considered as a cost factor in the past, companies are more conscious about the importance of the maintenance activities and they noticed that these can add value to their business. Different decision Mathematical Optimization Models for the Maintenance Policies in Production Systems Alperen Bal Istanbul Technical University, Turkey Sule Itir Satoglu Istanbul Technical University, Turkey