Hi Pratik,
You can define the production version in demand management or In the transaction MD02,check the option "Display results before they are saved". So while MRP run you can choose the production version. Also you can use a quota arrangement to select the production version according to pre-defined quotas or implement BAdI MD_MODIFY_PRODVERS to use your own logic to select the production version.
Regards,
R.Brahmankar