CyberManufacturing System (CMS) is an advanced vision for future manufacturing where physical components are fully integrated and seamlessly networked with computational processes, forming an on-demand, intelligent and communicative manufacturing resource and capability repository with optimal, sustainability-oriented manufacturing solutions. CMS utilizes recent developments in Internet of Things, Cloud Computing, Fog Computing, Service-Oriented Technologies, etc. Manufacturing resources and capabilities can be encapsulated, registered and connected to each other directly or through the Internet, thus enabling intelligent behaviors of manufacturing components and systems such as self-awareness, self-prediction, self-optimization, and self-configuration among others. This research presents a definition of CMS, an architecture and unique functions of CMS, and performance analysis of CMS using simulation models. Five examples have been developed and used for illustration and validation of CMS. The results show significant improvement in enhanced functionality and cooperative performance.