An important issue in maintaining the industrial equipment is to introduce an appropriate maintenance policy to monitor the conditions of the equipment. In this research, an investigation on the concurrent effects of erosion and random shocks during the useful life of the equipment is studied. In this regard a model is introduced to optimize the total cost including logistic, complete repair and incomplete repair costs. The proposed model determines the optimal number of the incomplete repairs, the time duration between inspections and the probability of equipment to be failed. A numerical example is solved by means of computer simulation. The results indicate that the proposed model performs well for minimizing the costs of maintenance and repair.