New England Automotive manufactures aftermarket automobile parts that are sold in a variety of outlets including auto parts stores and discount retailers. The following account data (in millions) have been taken from a recent balance sheet:
Current Assets_______________________________
Cash .............. $ 20
Accounts Receivable ....... 280
Finished Goods Inventory ..... 50
Work in Process Inventory ..... 340
Raw Material Inventory ....... 180
Current Liabilities____________________________
Accounts Payable ......... $44
Other ............. 14
Discuss recommendations that New England Automotive managers could use to improve its cash position. Focus your discussion on the operating cycle rather than on other means of raising cash.