Problem:
Your manufacturing company is facing a cash crunch, and the chief financial officer (CFO) is having difficulties allocating the cash to pay various company bills.
For each of the following net working capital accounts, propose a working capital-management strategy that will likely free up enough cash to keep the company stable:
Accounts receivable
Inventory
Accounts payable
Then, for each strategy, describe at least 1 pro and 1 con of implementing that strategy.
References included