Reducing setup time can reduce setup cost, which makes it economical to produce smaller lot sizes, which in turn reduces lot size inventory. Machine setup time refers to the period of time that is required to prepare a machine for its next run after it has completed producing the last part of the previous run. There are 4 main steps to the machine setup process: Setup Reduction:- The process of reducing the amount of time needed to changeover a process from the last part for the previous product to the first good part for the next product. The six basic steps in setup reduction are:- 1) Measure the total setup time in current state. 2) Identify the internal and external elements, calculating the individual times. 3) Convert as many of the internal elements to external as possible. 4) Reduce the time for the remaining internal elements. 5) ...