Material efficiency is a description or metric which expresses the degree in which raw materials are consumed, incorporated, or wasted, as compared to previous measures in construction / manufacturing projects or physical processes.  Making a usable item out of thinner stock than a prior version increases the material efficiency of the manufacturing process.  (from https://en.wikipedia.org/wiki/Material_efficiency)

Product life extension aims at increasing the value from invested resources, providing a useful life that is as long as possible, and maximizing profitability over the life cycle of assets. It includes activities such as repair, upgrade, and remanufacture as well as Innovative re-use of equipment

Waste minimisation is a set of processes and practices intended to reduce the amount of waste produced. By reducing or eliminating the generation of harmful and persistent wastes, waste minimisation supports efforts to promote a more sustainable society. Waste minimisation involves redesigning products and processes and/or changing societal patterns of consumption and production. (from https://en.wikipedia.org/wiki/Waste_minimisation)