In the wheel production with low pressure die casting industry, continuous production lines are necessary for foundry departments. To achieve the required production, molds must be readily available at the foundry. Thereby, manufacture time of the low-pressure casting molds must be as short as possible. Utilizing the current capacity to maximize manufacturing is crucial rather than investing even more. This requires a thorough review of operations, balancing tasks between processes, and reducing operation times to achieve the most efficient production. Reducing total production time and process improvement by removing heat treatment phase in the middle of the production is the main objective of this thesis. The goal of this research is to give a thorough understanding of the elements impacting the production process by exploring process improvements utilizing lean manufacturing and value stream mapping, machine parameter optimization, tool selection, machine efficiency, and production line balancing. With using Value Stream Mapping, a new production method is proposed and implemented. Also, machining parameter optimization has been done using Design of Experiment with Taguchi method to overcome the issues caused by the new manufacturing technique. Implementation of proposed method has offered various improvements such as reduction in number of operations 12 to 8, decrease in labor time with 2.35%, decrease in lead time by 42.65%, capacity increase with 2.35%, capacity line balancing in selected machines, machine parameter optimization and many more.