What is the term used to describe the reworking or overhaul of obsolete systems to improve efficiency?

The term that describes the reworking or overhaul of obsolete systems to improve efficiency is business process redesign. This approach involves analyzing and modifying existing processes within an organization to achieve significant improvements in critical areas such as cost, quality, service, and speed. The focus of business process redesign is to fundamentally rethink how work is done to better support an organization's mission and reduce inefficiencies.

Business process redesign often employs various methodologies, such as process mapping, to identify bottlenecks and redundancies, allowing organizations to streamline operations. By doing so, organizations can adapt to changing market demands and enhance overall performance, making this term particularly relevant in the context of modernization efforts.

The other terms listed are related but distinct concepts. Business process reorganization may involve restructuring teams or workflows but not necessarily a comprehensive redesign. System optimization typically refers to tuning existing systems for better performance rather than overhauling them entirely. Operational excellence is a broader philosophy that encompasses continuous improvement across an organization, rather than focusing solely on redesigning processes.