Long cycle times in semiconductor manufacuring represent an increasing challenge for the industry and lead to a growing need of break-through approaches to reduce it. Small lot sizes and the conversion of batch processes to mini-batch or single-wafer processes are widely regarded as a promising means for a step-wise cycle time reduction. However, there is still a lack of comprehensive and meaningful studies. In this paper we present first results of our modeling and simulation assessment. Our simulation analysis shows that small lot size and the replacement of batch tools with mini-batch or single wafer tools are beneficial but lot size reduction lacks persuasive effectiveness if reduced by more than half.