Technological transformation of industry: The smart manufacturing phenomenon

Subject. This article focuses on technological transformation of industrial production under the influence of digital technologies. Objectives. The article aims to analyze the concept of smart manufacturing and the key technologies used by a smart factory, and identify the advantages of implementing elements of smart manufacturing for companies. Methods. For the study, we used the methods of general scientific research. Results. Smart factory technologies possess high flexibility and can bring positive results at any stage of a company's digital transformation. Enterprises and organizations that implement smart manufacturing gain plenty of advantages. Conclusions. Application of smart manufacturing, smart factories, and smart enterprises is an objective necessity for ensuring the survival and competitiveness of the Russian industrial production.