A system (10) for planning and scheduling service events for one or more assets includes a demand optimizer engine (12) that receives information regarding future service requirements for an asset and operating characteristics of the asset. The demand optimizer engine (12) also generates a service plan identifying one or more planned service events during which one or more services are to be performed on the asset and identifying a planned start time and a planned end time for each service event so as to minimize the amount of time the asset is non-operational and the costs associated with each service event. The system (10) also includes a supply optimizer engine (14) that receives the service plan from the demand optimizer engine (12) and generates a service schedule for one or more of the planned service events based on information regarding the flow of one or more parts used in conjunction with the services of each planned service event. The service schedule includes a scheduled start time and a scheduled end time for the one or more planned service events. The supply optimizer engine (14) communicates the service schedule to the demand optimizer engine (12) and the demand optimizer engine (12) modifies the service plan according to the service schedule received from the supply optimizer engine (14).