In today’s constantly evolving and innovating world, competition is also growing. Industries are therefore trying to be as efficient as possible by optimizing their processes and reducing waste. Customers’ demands needs to fulfilled without keeping them waiting, industries produce goods in small batches which increases the changeover time or setup time. Single Minute Exchange of Die (SMED), a Lean Manufacturing tool, is a concept used for reducing setup time and thus, reducing waste and increasing productivity. In this Case Study, the discussion brings light to the SMED technique applied to an FishFood Producer Company. The main objective was to reduce waste, viz., time wasting, by applying the SMED technique. The result should give us setup time in single digits, i.e. less than 20 minutes; thus reducing the cycle time of the process. The basic task was to identify the internal activities and convert them to external activities.