I recommend learning about Six Sigma
It seeks to improve the quality of the output of a process by
identifying and removing the causes of defects and minimizing
variability in manufacturing and business processes. It uses a set of
quality management methods, mainly empirical, statistical methods, and
creates a special infrastructure of people within the organization who
are experts in these methods. Each Six Sigma project carried out
within an organization follows a defined sequence of steps and has
specific value targets, for example: reduce process cycle time, reduce
pollution, reduce costs, increase customer satisfaction, and increase
To put it more plainly. There are several methods identified by the Six Sigma process that allow you to project cost savings through process improvement, and then track the actual savings.
When I was doing this for a Major Manufacturer based in Central Illinois, we often found that we could project savings that were so great, that management would not believe the potential. We several times had to sharply reduce our projections, not because they were wrong just because they we too big. But the actual savings would many time bear out our projections.
The first step(yellow belt) is usually a 2-3 hour class followed by applied learning through participation in a real world project.
The second step(green belt) is usually 8-16 hours of classroom plus applied learning through leading a project under the supervision of a trained leader.
The third step(black belt) usually consists of approximately 2-3 weeks of intensive training, followed up by applying the knowledge in projects, and regular continuing education, as well as supervision of green, and yellow belt projects.
The final step(master black belt) varies by business, but mostly consists of managing the Six Sigma Process, for the business, and mentoring other members on Six Sigma, including performing training for the lower level steps.
I am explaining the steps because there are literally volumes of information that would be required to answer this question more directly