Measuring success in Chemical Plants : Essential KPIs#Chemicals #Manufacturing #KPI #Safety #Sustainability
The chemicals plants are exposed to numerous issues, but safety has always been the most crucial issue across the industry. Mr. Rangnath Dubey, Sr. VP - BC Jindal Group and Ex President (Operations) at Gujarat Fluorochemicals Limited shares with Pro MFG Media team the key performance indicators in the chemical plants which play an extremely critical role in the growth of the chemical industry.
The chemical plants due to their core nature of operations, are highly vulnerable to accidents thus, the most crucial parameter of assessment is the rate of incidence in the plant. Safety is the leading parameter in the chemical industry and as per the safety standards are concerned, zero lost time injury (LTI) is the fundamental criteria.
The cost-effectiveness – i.e. output versus input is one of the important and benchmarking loss is another important parameter for safety.
Energy optimization plays an important role in the mix of key parameters because the plants, especially the refinery plants heavily consume energy.
Apart from that, plant availability, characterized by the amount of time it can produce over a certain period, divided by the amount of the time in the period and ultimately correlating it to the breakdown rate is one critical parameter.
These are critical parameters for any process plant which will help the industry towards achieving their goals.
Sustainability is a pivotal variable that has evolved in the past five years. Earlier, sustainability wasn’t considered of high importance, but in recent years, the practice of sustainability has become more substantial. The stakeholders, society, neighborhood, and the government are now discussing the environment concerns and are also prominently moving towards sustainability goals. Due to the combined efforts of all the stakeholders, along with the rising environmental concerns and process safety concerns, we will reduce incidents in the process safety like the ones we saw in the past one year. Overall, sustainability has turned out to be a significant parameter in the industry and in coming years will attain further prominence.
Overall, the chemical industry has adopted sustainability substantially and are implementing the standards and practices in the system.
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