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Single Minute Exchange of Dies (SMED)
SMED is a systematic approach to minimize the time and cost of machine setups. As setup time is considered to be waste, this technique is very consistent with lean manufacturing principles.
The basic steps associated with SMED are:
A setup task is either internal or external. Internal tasks occur while the machine/process is NOT producing product. Conversely, an external task occurs while the machine is producing product. Of the two, external tasks are more desirable since they do not add to the overall setup time.

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