In the proposed paper, a collective tactic of (LSF) Loss Sensitivity Factor and Modified Mayfly optimization algorithm (MMFOA) is suggested to find the optimum capacity and allocation of the (DG) Distribution Generation & (DSC) Distribution Static Compensator. A proposed function that has been created is to reduce the operating cost, cut down the power dissipation, and hike the voltage index. This suggested mode of method is examined on (IEEE) The Institute of Electrical and Electronics Engineers - Thirty-Three (33) - bus (RDS) Radial Distribution Systems using the simulation software MATLAB. From the simulation outcomes under the various cases, findings are identified that the power dissipation is cut down, operating cost is reduced, and the voltage index is increased after the most favorable capacity as well as allocation belonging to DG and DSC in the required bus. The suggested mode of method produces superior results than those achieved by other presented methods.