This paper addresses the problem of determining the optimal number of spares for a system consisting of multi-item parts. In commercial sector, the cost minimization is mainly considered as an objective functions in most inventory models. However, in the military inventory systems, it is more stressed on maximizing the system availability than minimizing the system cost because the field commander always wants the system to be in perfect working condition to prepare against an emergence case. In this point of view, this paper develops an inventory model which decides the optimal number of spares by minimizing units short and simultaneously achieving a certain level of system availability. Solution algorithms are derived using the generalized Lagrange multiplier approach and marginal analysis approach. Sample data and output results are provided and sensitivity analysis is performed as the level of system availability changes in order to decide the optimal number of spares and availability in terms of economic sense.