The best replacement for multitasking is multithreading.

The best alternatives to multitasking are rated as following:
★★★★★  multithreading
★★★★★  multiprocessing
★★★★  multiprogramming
★★★  multi-tasking
★★  single tasking
★★  time sharing
★★  serial tasking
★  monotasking
★  switch tasking
★  parallel processing
★  task switching
★  continuous partial attention
★  preemptive multitasking
  unitasking
  multi user
  mindfulness
  cooperative multitasking
  multi processing
  dual tasking
  multi tasking
  backgrounder

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Google Trends

Scale is based on the average worldwide traffic of multitasking in all years. Click on graph for more.
multitasking
multithreading
multiprocessing