Abstract: A new model is proposed for analyzing the repairable CIMS with finite buffers in this paper. These buffers lead to blockage and starvation in the transfer lines and make the problem of the system very difficult to solve. An equivalent workstation without starvation and blockage is constructed by means of queuing theory of Markovian process. Connecting all the equivalent workstations in series, we get the new model of the whole system. Then from the principle of equilibrium of the working piece flow in the transfer line an accurate formula for the system without any loss of the working pieces is obtained. Finally two examples are used for illustrating the application of the method.