The Single Minute Exchange of Die (SMED) is one important lean tool to reduce waste and improve flexibility in manufacturing processes allowing lot size reduction and manufacturing flow improvements. SMED reduces the non-productive time by streamlining and standardizing the operations for exchange tools, using simple techniques and easy applications. However the process doesn't give the specific actions to implement which can result in overlooking improvements. To overcome this, common statistical and industrial engineering tools can be integrated in the SMED approach to improve SMED...