Cash cycle means the whole process of investing cash in purchasing of inventory to conversion of inventory into sellable goods from sale to collecting cash from customers after sales.

The cash conversion cycle (Operating Cycle) is the length of time between a firm's purchase of inventory and the receipt of cash from accounts receivable. It is the time required for a business to turn purchases into cash receipts from custome.

Operating cycle is the period in which company purchase raw material and good manufactured from that raw material while cash cycle is investing cash in inventory to manufacture the goods and selling the goods and earning cash from that sales and after that collecting cash from debtors.

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The cash cycle starts when you pay your supplier and ends when your buyer pays you.

The operating cycle starts with acquiring of inventory or raw material ands ends with receipt of payments of your good.