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For example if i'm designing a parking space, I want to find the most appropriate design that will let the maximum number of cars park with minimum space lost, so I need a design that will help me make best use of the space. I'm pretty sure that is another word that better describes these expressions "make best use of" or "have the least amount of lost space"...

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    You're optimizing the design or creating an optimal design, or some synonym, per a thesaurus. – Dan Bron Jun 4 '15 at 10:21
  • What would potentially help your question not get close-voted (for being opinion-based of for lack of research) would be to find a couple of possibilities and ask which one might be better suited if you have a doubt between them. Otherwise, grab a thesaurus. – JMB Jun 4 '15 at 11:46
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    If this question is close-voted, why the h3ll do we have the word request tag? There are 100s of similar questions on SE: ELU (English Language & Usage). – user6951 Jun 4 '15 at 12:00
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It sounds as if you're trying for the most efficient usage of space. Efficient means maximum productivity or outcome with minimum waste.

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Optimize

Make the best or most effective use of (a situation, opportunity, or resource)

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