The mechanism of supply chain efficiency in enterprise digital transformation and total factor productivity

Digital transformation (DT) represents a crucial measure for enterprises to enhance production efficiency. Supply chain construction has become a key strategic focus, and its efficient operation serves as a vital safeguard for elevating overall production efficiency within the enterprise. Based on the data of China's A-share listed enterprises from 2001 to 2022, this paper employed econometric models to investigate the impact of enterprise DT on total factor productivity (TFP), with a particular emphasis on examining the mechanistic role played by supply chain efficiency (SCE). The research findings reveal that: (1) Enterprise DT can significantly enhance TFP. The robustness of these results persists even after undergoing a series of endogeneity tests. (2) SCE plays a crucial mechanistic role in the impact of enterprise DT on TFP. The research results have been fully empirically tested, enterprises can significantly promote the inventory turnover with the help of digital technology, and then improve the TFP. The research findings and corresponding policy recommendations can provide a theoretical basis for enterprises in formulating DT strategies and delineating the supply chain development direction. This holds significant practical implications for enhancing enterprise production efficiency and achieving carbon neutral goal.