Digital Transformation Of Manufacturing Industry And Enterprise Performance

With the continuous development of science and technology,the popularization and application of digital technology has become more and more extensive.The concept of Industry 4.0 in 2013 also emerged internationally.China has also put forward the development policy of deep integration of industrialization and industrialization in line with the changes of the times,indicating the development direction of traditional enterprises in the new era.In 2015,the government report clearly proposed “Made in China 2025 ”,It shows that we should speed up the combination of the new generation of information technology and traditional manufacturing,so as to inject new vitality into traditional manufacturing.By the end of2019,with the outbreak of the COVID-19,the global economy has had a huge impact,especially in the traditional manufacturing industry.Many factories are facing the risk of production stoppage.At this time,intelligent manufacturing has demonstrated a certain advantageous position,which can ensure a certain level of productivity in the absence of manual labor by means of mechanical replacement Under the circumstances of the epidemic,more enterprises have chosen the path of digital transformation.This paper uses the method of combining literature research and case analysis to collate the domestic and foreign literature on digital transformation.It is found that although a large number of scholars have done a lot of research on the definition,status,motivation,path and corporate performance of digitalization,and have achieved a lot,most of them have made a macro analysis of the entire industry or the entire listed company in an empirical way,The research at the micro level is relatively few,especially for small and medium-sized enterprises,so this paper selects Weixing Co.,Ltd.in the garment accessories industry as the research object to analyze and evaluate the motivation,path and performance impact of its digital transformation,hoping to provide some reference for other enterprises in the garment accessories industry and some small and medium-sized enterprises in other manufacturing industries in their digital transformation.This paper draws the following conclusions through research: First Weixing’s Digital transformation helps enterprises to reshape their processes.With the help of supply chain and real-time cost management,Weixing can more quickly grasp the changes in external information and give timely feedback;Secondly,through performance analysis,it can be seen that Weixing’s various capability indicators have been significantly developed,but there are still problems in terms of debt repayment ability and cost control ability;The third part summarizes some successful experiences of Weixing’s Digital transformation:major strategies of enterprises should closely follow national policies and the background of the times;Technological innovation is an important driving force for enterprise digitization;In the context of digitalization,optimizing organizational structure is the key to improving efficiency and benefit;Collaborate with third-party platforms in the early stages of transformation.