The document discusses the need for and components of a "futuristic factory" or factory of the future. It notes that factories will increasingly rely on integrated data systems to manage the entire plant from a systems perspective. A futuristic factory aims to integrate all major manufacturing functions through a combination of computer-controlled processing stations, automated material handling and storage systems, and a computer control system to coordinate everything. This type of advanced automated factory offers benefits like direct labor savings, reduced floor space needs, higher productivity, and more consistent quality.