An Empirical Study to Examine the Role Smart Manufacturing in Improving Productivity and Accelerating Innovation

Smart Manufacturing (SM) is the vividly exaggerated and prevalent application of networked information-based tools throughout the manufacturing life cycle of a product. It comprises real-time integrated computational resources, demand-driven supply network; and broad-based manpower association. ICT driven Smart factories helps in improving productivity and accelerating manufacturing innovation. Several reports are there that are dealing with the practical and operational features of SM, but the role of SM as a dynamic element in improving productivity and accelerating innovation is not considered fully. Recognising the significance of role of SM in improving productivity and accelerating innovation, an empirical study has been carried out & presented in this paper with the purpose of attaining supplementary cognizance.