Research on the Relationship between Cash Holdings and Commercial Credit in Zhejiang Manufacturing Industry: A Supply Chain Perspective

In the manufacturing supply chain, there is a tripartite relationship between upstream suppliers, midstream manufacturing enterprises and downstream customers. The supply chain environment is changing from competition to cooperation. Based on the perspective of supply chain, the study of the impact of cash holdings and business credit of manufacturing enterprises in Zhejiang Province is conducive to a comprehensive review of the relationship between cash holdings and business credit of manufacturing enterprises in Zhejiang Province, and enhance their competitive position in the supply chain. It is found that the cash holding level of manufacturing enterprises in Zhejiang Province is negatively correlated with the occupation of the commercial credit of upstream suppliers, positively correlated with the occupation of the commercial credit of downstream customers, and positively correlated with the occupation of the overall commercial credit of the supply chain.