Research On The Value Creation Of The Digital Transformation In Dairy Industry

The global economy is transiting from industrial economy to digital economy,and digital transformation has become a necessary link for enterprises to achieve sustainable development.Since the outbreak of COVID-19,digital technology has played a particularly prominent role in promoting the flexible process change and real-time cost adjustment of enterprises,further promoting enterprises to accelerate the pace of digital transformation.In addition,the country has successively issued "manufacturing digitalization" and "digital China" double-line policies to support enterprises to accelerate the digital transformation path.As a strategic industry for the coordinated development of agricultural modernization,the dairy industry is currently facing problems such as fierce market competition and weak growth of market scale.Digital technology helps to further improve the core competitiveness of dairy enterprises and stimulate the generation of new profit growth points in the industry.Therefore,the dairy industry has begun to embark on the exploration path of digital transformation.In this context,this paper selects Mengniu Dairy as the case object,focusing on the motivation of the digital transformation of the dairy industry and the role path and effect of value creation.First of all,this paper combs and summarizes the domestic and foreign literature related to digital transformation.Secondly,this paper defines relevant concepts and elaborates on theories such as the Business Process Re-engineering theory,the Smile Curve theory,the Dynamic Capability theory,and the Value Creation theory.Thirdly,this paper describes the general situation of the digital transformation of dairy industry,the reasons for the selection of case companies and the brief introduction of Mengniu Dairy.In addition,this paper analyzes the motivation and process of Mengniu Dairy’s digital transformation,and studies the value creation path of Mengniu Dairy’s digital transformation from the four paths of efficiency,innovation,quality and reputation.Finally,this paper analyzes and studies the effect of Mengniu Dairy’s digital transformation from the four dimensions of the balanced scorecard,and analyzes the risks of digital transformation.Through in-depth study of the case,the main conclusions of this paper are as follows:First,the digital transformation of the dairy industry is imperative,and the digital transformation helps to find new profit growth points for the dairy industry.Second,Formulating the value creation realization path of digital transformation should be combined with the specific situation of dairy enterprises.The value creation function path of Mengniu Dairy’s digital transformation mainly includes four aspects: improving enterprise operation efficiency,stimulating enterprise innovation vitality,ensuring enterprise product quality,and promoting enterprise reputation construction.Third,the digital transformation has a positive effect on the value creation of dairy enterprises.Mengniu Dairy’s digital transformation helps to increase the value of enterprises and improve the ability of enterprise value creation.Fourth,while promoting the value creation of Mengniu Dairy,digital transformation will also bring certain risks to enterprises,which may lead to the formation of data islands and digital asset security problems.The innovation of this paper lies in the uniqueness of the selected topic,focusing on the dairy industry to do case studies,trying to analyze the economic consequences of digital transformation from the perspective of value creation,choosing value creation as the entry point to study digital transformation,taking improving the value creation ability of enterprises as the means,and discussing with the goal of maximizing enterprise value creation.In terms of the uniqueness of the research content,combining the characteristics of the dairy industry and the process of Mengniu Dairy’s digital transformation,we should reasonably use the Business Process Re-engineering theory,the Smile Curve theory,the Dynamic Capability theory,and the Value Creation theory to analyze the mechanism of enterprise’s digital transformation value creation from the four functional paths of enterprise efficiency,innovation,quality,and reputation,and build a research and analysis system of digital transformation value creation.