This article presents the results of an exploratory research with quantitative and qualitative approach that had as purpose to apply the SMED method for reduction of setup time and analyze the gaps found in the method. The study was applied on a PET packaging line of soft drinks from a big beverages industry located in the Paranhana Valley. In the first part of the work, the four stages of SMED defined by Shingo (1985) were applied and in the second part was performed the analysis of gaps identified in the application of the original method created by Shingo. As a result, there was obtained 72.6% reduction in setup time of the equipment studied raising the OEE from 82.2% to 88%. In addition to the improvements on the equipment, it was possible to demonstrate an aspect not considered in the SMED method that had been verified in the literature and identify two new aspects not mentioned in the literature and not considered in the method: standardization of activities and verification of results. Lastly, through the study, was performed the proposition of a new model to reduce setup time considering such gaps.