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Spare part is an important component in maintenance, repair and operating activities in manufacturing company. There are some cases in aircraft industry which the lead time and demand of spare part is stochastic and it lead to stockouts condition. Due to this condition, a research is needed. The research aims to obtain optimal inventory policy under stochastic demand and lead time. Inventory policy was done by classify the spare part using classification scheme model for stochastic demand and lead time with continuous review (s, Q) policy to address the problem. Distribution approach is conducted for describe the pattern of demand of spare part also to define the fit equation so the optimal inventory system is capable of generating order quantities and reorder points to minimize stockouts and total inventory cost that caused by stochastic demand and lead time. The models are applied to data from aircraft industry in Indonesia. The results of the inventory policy proposed in this research can save 28 % of total inventory cost.