In one illustrative embodiment, the method comprises providing a plurality of wafer lots, each of the lots comprising a plurality of wafers, performing at least one process operation on at least some of the wafers in each of the plurality of lots, identifying processed wafers having similar characteristics, re-allocating the wafers to lots based upon the identified characteristics, and performing additional processing operations on the identified wafers having similar characteristics in the re-allocated lots. In one illustrative embodiment, the system comprises a first processing tool for performing processing operations on each of a plurality of wafers in each of a plurality of wafer lots, a controller for identifying processed wafers having similar characteristics and re-allocating the wafers to lots based upon the identified characteristics, and a second processing tool adapted to perform additional processing operations on the identified wafers having similar characteristics in the re-allocated lot.