The emergence of complementary advanced technology strategies such as Computer Aided Design (CAD), Computer Aided Manufacturing (CAM), and Computer Integrated Manufacturing (CIM) makes possible significant improvements in productivity and product quality. Automation of the product design, development, manufacturing, evaluation, and distribution processes may well be the key to success for industrial firms seeking to attain and maintain product leadership in an increasingly competitive and global marketplace. The main thrust is on product quality, faster design and development and finally cheaper product. To sustain the local and global competition, one has to improve technologies. To continue in the competitive market, industries have to update their knowledge, acquire new skills to offer world class products. Product Lifecycle Management (PLM), Reverse Engineering (RE), Rapid Prototyping (RP) and Virtual Manufacturing (VM) are the promising trends every industry aspiring to enhance more productivity to capture global markets.