The Factory of the Future is coming, and it's being built on technology, innovation, and advanced manufacturing capabilities. But what is it, exactly? And what are the technologies you need to know about to help your manufacturing company embrace the change?

The definition of the Factory of the Future is evolving; even the name is in flux. Some call it Smart Manufacturing, Industry 4.0, or the Digital Enterprise. While the terms may vary, there's one thing that is clear: The Factory of the Future is the product of fast-changing disruptive technologies hitting manufacturing like a cyclone. Information technology and operational technology are both seeing drastic innovations and the convergence of these two forces is creating a paradigm shift. Manufacturing is experiencing the fourth industrial revolution.

May the good things of life be yours in abundance, not only at Thanksgiving but throughout the coming year.

When CFOs adopt innovative technology, they help build organizations that are more agile, profitable, effective, and positioned for growth. Here are the five actions CFOs can take immediately to get started down the right path:

1. Develop one single source of the truth—Data is the currency of success. Effective data management translates to big opportunities for companies that are intent on growth. But the key to effective data management is creating one source of the truth—a central data repository. Everyone needs to work from the same set of information, if your organization is going to operate as efficiently and effectively as possible. Companies can uncover key insights about their customers and business processes by breaking down data silos and building one single source of the truth. Whether that data comes from a single source, or more likely, multiple disparate sources, it needs to be visible from one place, so it can be trusted as reliable and acted upon by everyone who needs to make decisions.

Probably one of the most famous quotes in marketing comes from Harvard Business School Professor Theodore Levitt: “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!”

That, in a nutshell is servitization.  Turning a traditional product offering into a service. This new customer-centric feature becomes a differentiator, adding value, building relationships, preventing commoditization, and adding profits. Data insights, generated from the Internet of Things (IoT) are often at the heart of the new service offering. Sometimes the new offering is used to generate revenue, replace the old product-centric business model, or be a complimentary add-on designed to boost loyalty.

One of the common pushbacks with the use of analytics relates to the perceived ubiquity of imperfect data. This sentiment should be familiar to many: "We can't properly analyze and make decisions until we have corrected the quality issues in the data." Unfortunately, analytics must often be based on incomplete or "dirty" data. The first step in dealing with this reality is to understand and accept that information will likely never be perfect.

Sales professionals rely on an array of different criteria to be successful: strong personal skills, a good product, reliable technology, and efficient processes. To help sales reps be more effective, organizations have made huge investments in customer relationship management (CRM) systems and other technologies.

Innovation is a central component of the manufacturing industry. It can take many forms and address many functions. It can be a simple tactic for improving shop floor operations. It can be a concept for a new type of product or service. It can be a revolutionary approach that completely disrupts the way you do business. But all innovations start much the same way: as an idea.

How does innovation fit into your growth strategy?

The biggest mall owner in the U.S., Simon Property Group, is teaming with online shopping site Rue La La’s parent company to launch a new kind of website for people looking for deals.

The real estate company announced Wednesday it’s partnering with Rue Gilt Groupe, which is backed by Michael Rubin, CEO of Fanatics’ parent company Kynetic, to create a new e-commerce business for discount shopping.

Simon has been testing the website “ShopPremiumOutlets.com” since March, building on its premium outlet centers business. The mall owner operates dozens of premium outlet centers nationwide and a handful overseas. It’s been working with certain retailers at those centers — which include Woodbury Common Premium Outlets in New York — to test selling merchandise together on this site. It says it has signed on more than 2,000 designers, and has about 300,000 products.

In this episode we talk with Morin Sarenio of CGTrader, a company of 2-million designers that’s providing retailers with immersive augmented reality that lets customers try products online before they buy them. That means better customer experience, fewer returns, and major savings on reverse logistics.

Each year ICCG, sends members of its US executive and sales team to Inforum, Infor’s annual technology and applications forum. This event is for current and prospective customers looking to drive efficiency and learn more about how to get the most from their Infor investment.

“Inforum is always an event I look forward to. In fact, this was my 14th consecutive year attending,” said Balachandran Anantharama, Senior Vice President. “When I look back on my first Inforum to this last one, it is a living testimony of how much Infor has evolved as an Enterprise Software provider from its Leadership, Solutions, Technology, Customers and the Partner Ecosystem.”

For three generations Smarties candies have been a favorite among Halloween trick-or-treaters who love the pastel-colored wafers that are even good for some allergen-sensitive children. On Wednesday the Smarties Candy Co. celebrates its 70th anniversary at its manufacturing headquarters in Union, New Jersey.

The company, founded by 96-year-old patriarch, Edward Dee has a lot to celebrate. It is one of the few family-owned mass-production confectionery companies left in the United States, and it turns out more than 2 billion rolls of the candies every year.