In the currently rapidly changing industrialized world, globalization,product customization and automation are playing an imposing role in thedevelopment of the manufacturing sector. Nowadays, the innovative concepts ofThe Internet of Things, Factory of Things and Industry 4.0 are aimed torevolutionize the way technology can help improve production around the world.While in some international corporations these concepts are being deeply studiedand are starting to be implemented, also in middle-size and large manufacturers itis clear they could contribute with many advantages; however, skepticism anduncertainty are still present among managers and stakeholders. In this paper, thecurrent and coming state-of-the-art technology and implementation of the Factoryof Things paradigm are presented and examples of the current implementation inglobal manufacturing companies are analyzed. Additionally, this article willdiscuss the potential implementation of this Industry 4.0 in a large manufacturer,and how it can help increase the control and efficiency of production, materialflows, internal logistics and production planning.