Industry 4.0 is a collective term for technologies and concepts of value chain organization. Based on the technological concepts of cyber-physical systems, the Internet of Things and the Internet of Services, it facilitates the vision of the Smart Factory. Within the modular structured Smart Factories of Industry 4.0, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, Cyber-physical systems communicate and cooperate with each other and humans in real time. Via the Internet of Services, both internal and cross-organizational services are offered and utilized by participants of the value chain. Meanwhile, in the United States, an initiative known as the Smart Manufacturing Leadership Coalition is also working on the future of manufacturing. Smart Manufacturing Leadership Coalition (SMLC) is a non-profit organization of manufacturing practitioners, suppliers, and technology companies; manufacturing consortia; universities; government agencies and laboratories. The aim of this coalition is to enable stakeholders in the manufacturing industry to form collaborative R & D, implementation and advocacy groups for development of the approaches, standards, platforms and shared infrastructure that facilitate the broad adoption of manufacturing intelligence. Similarly, GE has been working on an initiative called ‘The Industrial Internet’. The Industrial Internet aims to bring together the advances of two transformative revolutions: the myriad machines, facilities, fleets and networks that arose from the Industrial Revolution, and the more recent powerful advances in computing, information and communication systems brought to the fore by the Internet Revolution. According to GE, together these developments bring together three elements, which embody the essence of the Industrial Internet: INTELLIGENT MACHINES, ADVANCED ANALYTICS and PEOPLE AT WORK.