Final answer:
The correct statement is: I, II, and III. All three statements about the pull method are true: it synchronizes production with demand at each stage, minimizes work-in-process inventory, and cuts down on waiting times and non-value-added costs.
Step-by-step explanation:
Which of the following statements regarding the pull method is (are) true?
- Goods are produced in each manufacturing stage only as they are needed at the next stage.
- The pull method greatly reduces work-in-process inventory.
- The pull method reduces waiting time and the associated non-value-added cost.
All three statements are true regarding the pull method. Statement I is true because the essence of the pull method is to produce goods as they are demanded by the next stage, preventing overproduction. Statement II is true as the method minimizes inventory levels by aligning production closely with demand. Statement III is true due to the reduction in the waiting time and non-value-added costs, as products are only made when needed, cutting down on idle time.