Working Capital Management of Catering Enterprises Based on the Supply Chain — Taking the Jiumaojiu Group as an Example

  •  Guihang Guo    
  •  Ying Li    
  •  Yuerong Zheng    


The management of working capital is crucial to the development of a business. In recent years, due to the epidemic, the catering industry has generally suffered from reduced revenue, high costs and financing difficulties. With the increasing competition in the catering industry, it is an important research direction to study the working capital management of listed catering enterprises in China from the perspective of supply chain. As a large catering brand in China, Jiumaojiu was in a poor financial situation in recent years. To better understand and help to tackle the problem existing in the management of its working capital, this paper takes Jiumaojiu Group as a case for study. Based on the working capital management evaluation method proposed by Professor Wang Zhuquan, we analyzed the working capital management of Jiumaojiu Group in recent years from the procurement, production and sales parts of its supply chain. According to the results of financial analysis based on Jiumaojiu Group’s annual reports for the periods from 2018 to 2022, we conclude that, in order to improve the utilization of the funds and the management of the working capital, Jiumaojiu Group need to improve it inventory management capabilities, strengthen the management of its accounts receivable, and slow down its business expansion slightly. It is hoped that this research can provide reference for Chinese catering enterprises to improve their working capital management.

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