Research On The Path And Financial Performance Of Digital Transformation Of Manufacturing Enterprises

With the rapid development of the global economy and the arrival of the wave of the digital economy,china has attached great importance to the development and promotion of the digital economy,digital transformation is the general trend.As the backbone of Chinese economic development,manufacturing has become a key factor in economic transformation.As for the manufacturing industry,it not only faces the disruption of the production order and production processes,but also bears the pressure of the late enabling digitalization and the lack of awareness of the enterprise management.Accelerating digital transformation and upgrade has become the important strategic goal of current manufacturing companies.Therefore,how to seize the wave of digital economy,how to achieve efficient digital transformation,what is the effect of digital transformation,and what potential risks exist in digital transformation have important research significance.Based on value chain theory,process reengineering theory,smile curve theory,etc.,this paper sorts out the relevant literature on the driving factors,technical means,main functions,and realization ways of digital transformation.In view of the unsustainable traditional growth model of the manufacturing industry,higher demands given by uncertainties,and the urgent need from stock competition,this paper further explores the characteristics,motivations,conditions,and potential risks of the digital transformation in manufacturing enterprises.From the perspective of value chain,it sorts out the transformation path in the aspects of customer experience,product development,procurement and manufacturing,marketing and sales,and financial management.This paper takes GCL as the research object,selects the data from 2015 to 2020,and adds industry data for horizontal comparison to discuss the financial effect of GCL’s digital transformation.Firstly it analyzes the motivation,advantages and process of digital transformation,and secondly it analyzes the transformation effect from the perspectives of cost control,capital management,sales profitability,and R&D investment.In summary,Digital transformation has effectively helped companies improve product yield,cost control capabilities,asset management levels,profitability,and innovation capabilities,shorten the production cycle,reduce production costs,and play a great positive role;but overall,it is still necessary to adjust the strategy in a timely manner,optimize the layout,and respond to interference factors promptly based on the actual situation.Finally,the article summarizes and sorts out the digital transformation of manufacturing enterprises to provide reference for other enterprises.