In many cases it's generally better to let the OS package management take care of keeping the system perl up to date. An alternative is to simply build your own perl elsewhere in the system. README. See also perlbrew.

I don't have any OS package management team to take care of these and i need to update the module in the same directory because i have given this path in all perlscripts in all dev, production servers. So can you please suggest how to update that LWP module in that particular directory to the latest version.

Which OS is this? If you have internet access:

cpan Module::Name
[download]

From the command line will install a module and it's prerequisites.

Update:

if you don't have internet access a sane solution for you would be to use minicpan to create a local mirror on your network, since you have several servers in various regions.