Purpose Modern factories are adopting a new data-driven system to reshape their manufacturing operations, known as smart manufacturing. This new system incorporates Industry 4.0 technologies to customize products and services as per constantly evolving market dynamics. This study investigates the impact of Industry 4.0 technologies on enhancing the performance of manufacturing operations. Design/methodology/approach We performed a systematic literature review of 151 articles over the span of 34 years to thoroughly understand the evolution in manufacturing systems. A conceptual framework of a smart manufacturing system based on three operations management theories, namely resource-based view theory, socio-technical system theory and system management theory, is proposed in this study. This framework derived three dimensions of smart manufacturing systems based on each theory, including people, process and technology. The significance of collaboration among stakeholders is discussed in the people dimension. The effect of Industry 4.0 technologies on various processes involved in the manufacturing organization is addressed in the process dimension. The technology dimension elaborates on the key role of data in decision-making within the system. Findings The results of this study indicate that integrating people, process and technology dimensions leads to improved performance of manufacturing organizations. We identified eight key research gaps that will offer researchers a pathway for future studies. Originality/value This study highlights the critical role of Industry 4.0 technologies in transitioning to smart manufacturing, paving the road for society's future development.
Kandarkar et al. (2026) studied this question.