Model for Inventory Availability and Plant Uptime Improvement in Energy Facilities

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@article{1713120,
      author = {Chineme Scholar Okonkwo, Olufunmilayo Ogunwole, Obinna ThankGod Okeke},
      title = {Model for Inventory Availability and Plant Uptime Improvement in Energy Facilities},
      journal = {Iconic Research And Engineering Journals},
      year = {2018},
      volume = {2},
      number = {4},
      pages = {160-172},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1713120.pdf},
      abstract = {Ensuring uninterrupted operations and optimal performance in energy facilities requires effective management of inventory and plant uptime. Interruptions due to equipment unavailability, delayed maintenance, or supply chain disruptions can result in significant financial losses, operational inefficiencies, and safety risks. This paper presents a comprehensive model for inventory availability and plant uptime improvement that integrates demand forecasting, inventory optimization, maintenance planning, and digital monitoring to enhance operational reliability in energy facilities. The model emphasizes a proactive and data-driven approach, moving beyond reactive replenishment and ad hoc maintenance practices. Central to the model is inventory availability management, which aligns stock levels of critical spares, consumables, and maintenance materials with operational requirements and risk assessments. Predictive demand forecasting, based on historical consumption, production schedules, and equipment criticality, informs optimal stock levels, safety buffers, and reorder points. Inventory segmentation techniques, differentiating critical, strategic, and routine items, allow resource prioritization and cost-effective stocking strategies. Integration with plant maintenance schedules ensures that required components are available for planned and preventive maintenance activities, minimizing unplanned downtime. The model also incorporates plant uptime optimization through preventive and predictive maintenance practices, real-time condition monitoring, and performance tracking. Linking inventory management with maintenance planning enables timely interventions and reduces operational disruptions. Key performance indicators, such as mean time between failures, equipment availability, and stock-out frequency, provide actionable insights for continuous improvement. The framework promotes digital enablement, including enterprise resource planning (ERP) integration and data analytics, to monitor inventory levels, track asset performance, and support decision-making. By applying this model, energy facilities can achieve higher operational reliability, reduce costs associated with unplanned downtime, and enhance overall plant performance. Additionally, optimized inventory and maintenance practices support safety, regulatory compliance, and sustainable operational outcomes.},
      keywords = {Inventory Availability; Plant Uptime; Energy Facilities; Preventive Maintenance; Predictive Analytics; Operational Reliability; ERP Integration; Supply Chain Optimization.},
      month = {October},
      doi = {https://doi.org/10.64388/IREV2I4-1713120}
  }