Developed countries are investing lots of effort in advancing the concept of the smart factory. They expect it will enable them to maintain superior production efficiency and keep production jobs. But what is a smart factory? This white paper focuses on the details and reviews some of the concepts that help make a factory smart. Learn how smart technology in the electronics industry will maximize operations performance, reduce cost and help edge out the competition. The breakthrough strengths and technologies of the smart factory include shop-floor connectivity, advanced robotics, flexible automation, automation standards, virtual and augmented reality and energy management.