Undeniably, the two most popular process improvement methodologies in use today are lean manufacturing and Six Sigma. For every type of waste you encounter, you either use lean or Six Sigma.
Lean manufacturing, for example, has identified seven types of waste:
Of these seven, the waiting, defects, and over-processing exist in process manufacturing. These wastes are fertile ground for the application of lean and Six Sigma methodologies.
Product changeovers, which in process manufacturing can sometimes take 18 hours or more, are an example of waiting waste. Defects are the result of production of material that does not meet the specifications of the downstream internal/external customer. Over-processing occurs when the material is processed to a greater extent than is required by the downstream customer. All of these add to costs and can be reduced and/or eliminated through the use of these methodologies.
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Source:
Reliable Plant