You do not state what kind of blanks you would cut from this piece.
So, my suggestion is if you want Bowl/Plate blanks you cut a round 8" template out of thin plywood and get several nice sized blanks OR if wanting to cut for pen blanks you will have to look for the best figure in the piece and then decide where to cut first to minimize waste.
If you wish to cut the whole thing into pen blanks then you first need to cut one straight edge then decide what thickness blanks you want/need and then start strip cutting and adjusting the thickness of cut for bigger blanks as you go along.
The thickness you list will yield two blanks per strip cut, adjusted on sized required for type of pens you will be making. Right down the middle will be Appx. 7/8", plenty enough for must pens.
Once you strip cut you can cut strips to blank length, short/odd sized pieces are always good for Key chains,segmented pens, small Finials, etc..
Hope this helps in some small way,