Research On Digital Transformation Strategy Of X Iron And Steel Group

In the era of digital economy,the traditional steel manufacturing industry is facing severe competitive situations such as technological innovation,product iteration and continuous acceleration of the industrial cycle.Traditional means of production,operation and technology are no longer able to meet the current needs of enterprise management and development.With the application of new generation digital technologies such as big data and artificial intelligence to various aspects of enterprise production and manufacturing,steel manufacturing enterprises can only gain market advantages and greater development space in the increasingly fierce technological competition by insisting on accelerating digital transformation and development,creating a more flexible and versatile digital organisational system by reconfiguring the enterprise production model.X Iron and Steel Group is a mega steel conglomerate formed after the restructuring of E Iron and Steel Group.Based on many old state-owned enterprises and relying on its strong resources and production capacity,X Iron and Steel Group has now become one of the strongest private steel enterprises in China.The Group has formed a sound digital development system around production,finance,procurement,logistics,safety and environmental protection and other business areas.As the demand for digital development of X Iron and Steel Group continues to increase,the relevant transformation is also imminent.It has become the key to the transformation strategy of the enterprise to formulate a reasonable strategic plan for the actual situation of the enterprise,to clarify the direction of transformation and to promote the sustainable and rapid development of the enterprise.This paper takes X Iron and Steel Group as the target case,conducts a comprehensive and in-depth analysis of the digital transformation of X Iron and Steel Group,analyzes the relevant transformation strategies adopted by the group and the related safeguards to ensure the smooth implementation of the strategies,uses PEST and five forces model analysis tools to analyse the macro environment and competitive environment of the enterprise,uses SWOT matrix to analyse the strengths,weaknesses,opportunities and threats that X Steel Group Using the SWOT matrix,we analysed the strengths,weaknesses,opportunities and threats faced by X Iron and Steel Group,used IFE and EFE tools to quantitatively analyse the key factors affecting the internal and external environment of the company,and used the QSPM matrix to analyse and select alternative strategies based on the company’s vision and strategic objectives.-SO strategy,i.e.adopt cost control to improve the comprehensive utilisation of resources,reduce production and management costs and enhance profitability;implement lean production to increase the added value of products;achieve diversification and build brand effect;rely on digital platform to enhance the added value and competitiveness of products;build a new talent team and accelerate technological innovation,etc.The research in this paper is based on the collection and collation of authoritative data and scientific analysis and judgement.It is hoped that it will help X Iron and Steel Group’s digital transformation strategy and provide useful reference for other similar companies in the manufacturing industry.