Introduction

In today’s manufacturing environment, managing inventories is one of the basic concerns of enterprises dealing with materials according to their activities, because material as the principal inventories of enterprises specially production ones composes the large portion of their assets. As a result, managing inventories influences directly financial, production, and marketing segments of enterprises so that efficient management of inventories leads to improving their profits. In addition, the effect of managing inventories on the selling prices of finished products is undeniable because more than half of production systems’ revenues are spent to buy materials or production components. On the other hand, customers expect to receive their orders at a lower price apace. So, an efficient managing inventories and production planning are key managerial and operational tools to achieve the main goals, which are satisfying the customers’ demand and becoming lower-cost producer, in order to increase market share.