If Aztec could shorten its CCC by 5 days, would it be best to reduce the inventory holding period, reduce the receivable collection period, or extend the accounts payable period? Explain why.
1. Total Quality Management (TQM) is an enhancement to the traditional way of doing business. It is defined both a philosophy and a set of guiding principles that represent the foundation of a continuously improving organization. Referring to the statement, discuss why TQM may be difficult to achieve in a short period of time for a company that has placed a low priority on the quality initiatives over the years.