Applying operational excellence principals along with six sigma can make wonders to any company. most of the companies do not follow methodical way to build their organization. As you have mentioned it opens wide doors for improvements and reduce waste in the meantime. As an industrial engineer who worked in 2 of the fortune 500 MNCs I can say process improvements CANNOT BE DONE IN A HURRY and follow the well structured pattern to get the best out of it.
Cannot be done in a hurry