Here is a picture of my Studio Strip Die Cutter. This show how little waste it causes. I love using my strip dies.

I want one of these sooooooo bad.

I have been cutting a lot and I mean a lot of jelly rolls with my 2.5" strip cutter. So far I have 40 cut.
Very little waste. The way I do it is in the preparation.

I will tare the fabric. I tare off 26" then press it and straighten it up and fold it in half selvedge to selvedge and straighten up the torn edge and then fold along the folded edge and keep moving it to straighten. This gives me 4 layers that are straight so the cut strip is on the straight of the fabric. The only time I don't do it thi way is if cutting strips or a fabric that has a plaid or patterned stripe or plaid.
Very fast and very accurate with about a 1/4" loss on each side. I have saved all the little skinny strips and thinking how those can be used. My thought is string rugs.