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This work presents a method for modelling and analysis of production systems in order to provide superior and efficient management over inventory by optimizing lead-times for excellent customer service and profit maximization. The proposed inventory control is based on the manufacturing lead-time optimization which is predominant when related to other aspects of the production cycle. The main goal of this work is to introduce a timed Petri net based approach to evaluate inventory in production systems by analyzing performance metrics such as throughput and cycle time. This work also presents PNTSys, the modelling tool which implements the proposed modelling methodology.