DIGITALIZATION OF BUSINESS PROCESSES OF A METALLURGICAL ENTERPRISE AS A SUSTAINABLE DEVELOPMENT DIRECTION

The article discusses the results of the analysis covering the current state of the external business environment of metallurgical enterprises and the level of digitalization of significant metallurgical leaders in Russia. Based on them, the authors examined the possibilities and risks that are associated with the
digitalization of the metallurgical industry, as well as their effects on the competitive ability of such industry in Russia in general. The general analysis of the metallurgical industry portrays the economic and political
instability caused by supply chain disruption, anti-Russian sanctions, the downturn driven by the coronavirus pandemic and general geopolitical tension that has been dictating the performance of metallurgical enterprises
for a long period and thus affects their sustainable development. The authors analyzed findings of the SWOT analysis of metallurgical enterprises, using Severstal PJSC as an example, and developed strategic reactions that serve as the foundation for the development of the digitalization strategy of the metallurgical industry. In addition, the evaluation of the connection between the level of digitalization of metallurgical enterprises’ performance and their profitability demonstrates that there is a direct connection. The level of
digitalization of business processes of a metallurgical enterprise has a direct impact on its competitive ability, implying the necessity to establish a set of strategic reactions that make it possible to develop a strategy for digitalization of metallurgical enterprises’ business processes. This strategy helps increase their performance and minimize risks, resulting in an increase in the efficiency and competitive ability of the Russian metallurgical industry on the global market. The evaluation of the efficiency of the digitalization strategy proposed reveals that its successful implementation contributes to a significant increase in the metallurgical enterprises’ profitability.

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