In the Supply Chain Operations Reference-Model (SCOR®), the Cash-To-Cash Cycle

In the Supply Chain Operations Reference-model (SCOR®) , the cash-to-cash cycle time for a manufacturing company is the number of days between which two of the following situations?

A) Paying for raw materials and getting paid for the product
B) Shipping the product from the warehouse and receiving it at the customer's location
C) Paying for raw materials and sending an invoice to the customer
D) Billing the customer and getting paid for the product