In the current competitive marketplace companies survival strongly depend on its ability to maintain high productivity through a continuously changing environment. Flexible Manufacturing System is rising as an emerging paradigm for several manufacturing firms that make them survive amidst the increased competition rendered by ever growing demand for customized manufacture of products. The main characteristic of FMS is its easy adaptability to variable plans and goals concerned with the production of wide range of low cost, high quality products within very short lead time. To realize these essential improvements in a firm, it imposes many challenging problems for planning, scheduling, monitoring and control of manufacturing system. Therefore, the current research drift has been to devise an efficient modeling technique that maps the dynamics of the system and solves the underlying problem of manufacturing system.