Research On The Impact Of Digital Transformation On The Performance Of Machine Manufacturing Firms

As the industrial transformation with digitalization as the main theme continues to deepen,digital transformation has become an important step for most enterprises to achieve high-quality development.As a pillar industry of the national economy,how to combine its resources and digital technology to achieve scientific and effective transformation and improve performance in the midst of fierce competition has become a key issue.In this paper,Shaangu Power,a leading company in the machinery manufacturing industry,is selected as the research target and its digital transformation performance is analyzed using the case study method.Firstly,we analyze the internal and external motivations of the digital transformation of Shaangu Power;Secondly,we explore the digital transformation path of Shaangu Power based on process reengineering theory,digital empowerment theory,and organizational change theory;Thirdly,we select the corresponding indicators based on the transformation path of Shaangu Power and analyze the performance of Shaangu Power before and after the digital transformation from both horizontal and vertical perspectives;Finally,indicators were selected from the technical,organizational,and environmental dimensions to analyze the factors that affect digital transformation performance with the help of qualitative comparative analysis(QCA),and to summarize the corresponding combinations that are conducive to improving the digital transformation performance of machine manufacturers.The results of the study show that: firstly,a favorable policy environment and fierce competition due to industry oversupply are the external drivers for digital transformation of Shaangu Power,while the internal drivers are low productivity,old management system,and a single industrial structure;Secondly,there are three paths for Shaangu Power’s digital transformation to influence performance: empowering production and operation with a process intelligence platform、extending the value creation chain through service intelligence,and building competitive advantages through product intelligence;Thirdly,the digital transformation of Shaangu Power has improved the overall performance of the company.Process intelligence has reduced the overhead rate and increased the inventory turnover rate,service intelligence has boosted the growth rate of operating income and net profit,and product intelligence has improved and promoted the net sales margin,asset value creation capability,R&D innovation output capability,and corporate brand value to a certain extent;Fourthly,the analysis of the factors influencing the digital transformation performance of machinery manufacturing industry reveals that the three dimensions of technology,organization and environment together can promote the digital transformation performance of enterprises,and if enterprises want to successfully realize digital transformation with limited resources,they should give priority to improving their own endogenous financing ability and R&D intensity,and at the same time,they should always pay attention to the changes of enterprise competitiveness.Finally,the following three insights are drawn from this paper:(1)early formulation of digital transformation strategic planning is beneficial to the long-term development of enterprises;(2)enterprises should pay attention to the training and introduction of digital talents;(3)enterprises should carry out digital transformation according to their actual situation.