Next generation of wireless communication systems is expected to support a wide set of applications and use cases. Among these, applications with ultra-reliable and low-latency communications (URLLC) are at utmost importance due to stringent requirements. In this work, single carrier (SC) transmission is considered as a promising solution to meet demands of systems with URLLC. Firstly, SC system parameters affecting reliability and latency are comprehensively explained. Additionally, these parameters are optimized in time and frequency domain to achieve URLLC. Later, adaptive roll-off factor usage within a SC block is proposed to provide more efficient resource utilization. Trade-offs between reliability, latency and system efficiency are shown via computer based simulations. SC transmission inherently offers flexible structure to optimize the trade-offs through proper parameter selection.