Supply Chain Risk Management Model for EPC and Gas Processing Projects

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@article{1713124,
      author = {Jibril Agbabiaka, Chineme Scholar Okonkwo, Olufunmilayo Ogunwole, Winner Mayo, Obinna ThankGod Okeke},
      title = {Supply Chain Risk Management Model for EPC and Gas Processing Projects},
      journal = {Iconic Research And Engineering Journals},
      year = {2019},
      volume = {3},
      number = {2},
      pages = {968-980},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1713124.pdf},
      abstract = {EPC (Engineering, Procurement, and Construction) and gas processing projects operate within highly complex, capital-intensive, and technically demanding environments where supply chain disruptions can significantly impact project timelines, costs, and operational safety. This paper presents a Supply Chain Risk Management Model specifically designed to enhance resilience, mitigate operational uncertainties, and optimize resource allocation in EPC and gas processing contexts. The model integrates systematic risk identification, assessment, mitigation, monitoring, and contingency planning to address the multifaceted risks inherent in these projects. The framework emphasizes risk identification and assessment through mapping of supply chain nodes, profiling of suppliers and subcontractors, and classification of risks into operational, financial, regulatory, environmental, and reputational categories. Risk mitigation strategies include supplier diversification, dual sourcing, performance-based contractual safeguards, inventory optimization, and the integration of predictive maintenance and technological tools. Monitoring and control mechanisms leverage digital solutions such as Enterprise Resource Planning (ERP) systems, Internet of Things (IoT) devices, and blockchain-enabled tracking to provide real-time visibility, enforce compliance, and ensure proactive decision-making. Contingency planning and recovery protocols are incorporated to maintain operational continuity during disruptions, including scenario analysis, emergency sourcing strategies, and business continuity plans aligned with project schedules. The model?s implementation supports multiple strategic benefits, including reduced project delays and cost overruns, enhanced supplier reliability and accountability, strengthened compliance with regulatory and ESG standards, and long-term operational sustainability. By combining proactive risk management with integrated supply chain oversight, the framework transforms supply chain management into a strategic, value-creating function that mitigates uncertainties while improving project efficiency and resilience. This Supply Chain Risk Management Model provides a structured, evidence-based approach for managing the complex and high-risk supply chains of EPC and gas processing projects, ensuring both operational efficiency and strategic advantage in dynamic project environments.},
      keywords = {Supply Chain Risk Management; EPC Projects; Gas Processing; Supplier Reliability; Contingency Planning; Inventory Optimization; Contractual Safeguards; Operational Resilience; Regulatory Compliance; Project Efficiency.},
      month = {August},
      doi = {https://doi.org/10.64388/IREV3I2-1713124}
  }