Recent rapid developments in information and network technology have profoundly influenced manufacturing research and its application. However, the product’s functionality and complexity of the manufacturing environments are intensifying, and organizations need to sustain the advantage of huge competitiveness in the markets. Hence, collaborative manufacturing, along with computer-based distributed management, is essential to enable effective decisions and to increase the market. A comprehensive literature review of recent and state-of-the-art papers is vital to draw a framework and to shed light on the future research avenues. In this review paper, the use of technology and management by means of collaborative and cloud manufacturing process and big data in networked manufacturing system have been discussed. A systematic review of research papers is done to draw conclusion and moreover, future research opportunities for collaborative manufacturing system were highlighted and discussed so that manufacturing enterprises can take maximum benefit.