Enhancing Cash Management Efficiency

ABC Corporation is reviewing its cash management policies to optimize liquidity while minimizing idle cash. As part of this review, the CFO has requested an analysis of the company's cash conversion cycle (CCC). The company currently holds an average of $300,000 in cash and expects to generate $2,000,000 in annual sales. The cost of goods sold (COGS) is $1,200,000, and the average inventory turnover is 4 times per year. Accounts receivable turnover is currently at 10 times annually.

Based on the above information, which of the following actions would most directly enhance the efficiency of ABC Corporation's cash management strategy?