Research On The Digital Transformation Of The Manufacturing Industry And Its Performance

With the fast and fierce development of digital and economy,the advanced digital information technologies such as Internet of things and artificial intelligence have not only brought tremendous changes to people’s life,but also led the wave of digital transformation of manufacturing industry.Manufacturing industry plays an significant role in boosting the development of China’s digital economy.Digital transformation is also an significant step in the implementation of digital strategy in China.At present,most digital manufacturing businesses are at a low level,which leads to the digital manufacturing in China.In this environment,accelerating the digital transformation of firms has become an significant strategic goal of the manufacturing industry.And it is unclear whether the digital transformation of manufacturers can promote the development of digital bussiness economy.Therefore,this paper not only analyzes the reasons,strategic path,key factors and current difficulties of the digital transformation of manufacturing industry,but also analyzes the digital transformation of manufacturing industry.As a pioneer in the traditional household appliance manufacturing industry,Haier Group raised the "one person,one machine" strategy in early 2005 and will launch the digital transformation plan in 2011,and announced the transformation of the ecological advancement of the Internet of Things in 2019.The digital transformation of structure and business model has become a typical example of the success of digital transformation.Taking the digital transformation path of Haier Group as the research object,this paper establishes a model based on value chain theory,flattening theory,digital economy and economic value by combining literature research and case study.And the factors affecting the performance of bussiness digital transformation.Through analysing Haier Group’s digital transformation way,this paper intentions to enrich the theoretical knowledge of digital transformation,analyze the relationship between digital transformation and firm performance,and supply reference value for other firms.Firstly,the research shows that Haier’s digital transformation not only optimizes the organizational structure and business model,but also reconstructs the business process and digital system,creates an open sharing platform and improves the enterprise value and heart competitiveness,so that the company’s performance continues to grow.Secondly,in the process of digital transformation,Haier Group mainly produces high-quality innovative products to meet customer needs by shortening transaction time,reducing transaction costs and improving total factor productivity.And other ways that affect the company’s daily operation and performance.Finally,by analyzing the influence of digital transformation on the performance of Haier Group,this paper points out the opportunities and challenges faced by Haier Group in digital transformation,and raises corresponding countermeasures and suggestions for Haier Group and other manufacturing firms.It is hoped that the research results of this paper can provide practical illumination for China’s manufacturing industry and other countries to execute digital transformation.In the meantime,enxpanding the theoretical research on digital transformation and enterprise performance.