Why would a firm wish to minimize its cash conversion cycle (CCC) even though each of its

Question:

Why would a firm wish to minimize its (CCC) even though each of its components is important to the operation of the business? What key actions should the firm pursue to achieve this objective?
Cash Conversion Cycle
Cash conversion cycle measures the total time a business takes to convert its cash on hand to produce, pay its suppliers, sell to its customers and collect cash from its customers. The process starts with purchasing of raw materials from suppliers,...