The impact of digital transformation on corporate supply chain management: Evidence from listed companies

Abstract

In the current economic environment, the digital transformation of businesses plays a pivotal role in supply chain management. This study, based on data from Chinese listed companies between 2012 and 2021, empirically tests the significant enhancement of total factor productivity in enterprises due to digital transformation by matching data at the enterprise level of upstream suppliers and downstream customers. This conclusion remains valid even after endogeneity and robustness tests. Further analysis reveals that digital transformation exerts its influence by optimizing supply-demand matching and reducing transaction costs. The impact of digital transformation exhibits heterogeneity in the characteristics of vertical relationship structures, including differences in enterprise scale, ownership nature, and innovation level. Such changes drive the overall efficiency improvement of the corporate supply chain, leading to higher productivity for businesses. The research results provide compelling evidence for understanding the central role of digital transformation in supply chain management and offer significant insights for advancing the digital process and construction of supply chains.