After reading Jan Tukker$$s article, a top executive from Med$-$distributors, a large pharmaceutical

distributor in South Africa, noted the importance of effective inventory management to mitigate

volatile lead times. As the warehouse manager of Med$-$distributors, the top executive asked

you to read the article from Jan Tukker and provide your input about planning and managing

inventory in a time of uncertainty. Compile an inventory management report covering the

following topics:

$3\mathrm{.}1$ Determining the inventory carrying costs for Med$-$distributors. $(12)$

$3\mathrm{.}2$ The types of uncertainties that can impact the inventory policy of Med$-$distributors. $(4)$

$3\mathrm{.}3$ Developing an integrated inventory management strategy for Med$-$distributors.