**6. Conclusion**

Smart manufacturing alone will not be able to provide success in the performance of firms. It has been demonstrated based on the literature review, and an exclusive study carried to explore if strategic technology management factors rather technology alone (as is smart manufacturing) influence performance of advanced manufacturing firm. Although several factors were drawn up from this study, but only two factors contributed to the performance of such firms, and they were strategic R&D and key positioning. The strategic R&D factor demonstrates that the innovative use of technologies and new product designs can contribute to performance of firms. The key positioning factor accounts for good decision-making in terms of market positioning. The study also supports the viewpoint of Chand and Davis (in Rockwell Automation Report) [33] that smart manufacturing is not merely technology rather an integration of information, technology and human ingenuity. Since two factors in strategic technology management contributed to the growth of firms, it could be concluded that integration of both technology (R&D) and human ingenuity (key positioning/decision-making) can provide success to firms. Thus, smart manufacturing is the engine, and strategic technology management the driver for performance of firms.
