We propose a mechanisms-based viscoplasticity approach for metals and alloys. First, we derive a stochastic model for thermally-activated motion of dislocations and, then, introduce power-law flow rules. The overall plastic deformation includes local plastic slip events taken with an appropriate weight assigned to each angle of the plane misorientation from the direction of maximum shear stress. As deformation progresses, the material experiences successive reorganizations of the slip systems. The microstructural evolution causes that a portion of energy expended on plastic deformation is dissipated and the rest is stored in the defect structures. We show that the reorganizations are stable in a homogeneously deformed material. The concept is tested for steel 304L, where we reproduce experimentally obtained stress-strain responses, we construct the Frost-Ashby deformation map and predict the rate of the energy storage. The storage is assessed in terms of synchronized measurements of temperature and displacement distributions on the specimen surface during tensile loading.