The emergence of Industry 5.0 marks a transformative era in manufacturing, shifting from automation-driven paradigms toward human-centric, resilient, and intelligent systems. At the core of this transition are the integration of the Internet of Things (IoT), digital twins, and predictive analytics, which collectively enable real-time decision-making, adaptive manufacturing, and personalized production. This paper explores the engineering of smart manufacturing systems that embody these technologies, emphasizing their role in enhancing productivity, sustainability, and competitiveness in Industry 5.0. Key innovations include connected cyber-physical systems, data-driven process optimization, and human–machine collaboration. Challenges such as data security, system interoperability, and workforce adaptation are also addressed. The study concludes that converging IoT, digital twins, and predictive analytics establishes a resilient manufacturing ecosystem capable of balancing efficiency, sustainability, and human values in the next industrial revolution.