In EPC projects, what is the best procedure to control procurement of bulk material?

Three main and simple steps: 1.
Accurate estimation during planning phase.
2.
Warehouse management and material control during execution.
3.
Tracking records during monitoring phase.

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1. Proper estimation in proposal stage

2. Regular analysis of cost and quantity variation during execution stage

3. warehouse management and providing front end availability

procurement based on exact specs , and site condition to match and claims need to be defined properly once such technocommercial bridge is created the new concept is requesting manufacturer for faster deliveries or keeping trasnport selection as client option ,putting clause of manufacturing and assembly time requirement of approved factory.such details will help. in todays subcontracting concept a material engineering team is worth for EPC . 

Proper Estimation, Reducing Costs and Improving Procurement Efficiency

First of all, such materials are subject to commodities exchange prices, i.e.
their prices are not constant, nor they are accurately predictable, since the only variable they depend on is offer and demand.
Therefore, you may take a commercial safety, linking them expressly with a reference price (e.g.
"Price is valid at London commodities exchange prices of today.
Variations greater than +/-3% will lead to corresponding variations of offer price").
As well, you may limit offer's validity to a period where your bulk materials are having a predictable trend, but it is always a gamble, since you cannot predict everything.
For example, steel prices have doubled in a period of2-3 years, somewhere between2002 and2004.
In the same time, a common period between offer and contract may be more than2 years, depending on the international economic situation.
Therefore, the best would be to transfer this risk to the client, which will have a supplementary incentive to make a fast decision.
Just a personal opinion, avoid LSTK deals, which transfers all the risk to the contractor.
Such deals are to be signed when you are sure that all details of the projects are very well known.
On the other hand, if I would be obliged to bid for a LSTK job, I would put all "safety coefficients" in price, correspondingly increasing it, and obliging customer to an increased financial effort.
Therefore, I would not recommend to either side such an approach.
I repeat, it is just an opinion.
Any other specific comments/clarifications, you may contact me directly at

Inventory control through SAP

The requirement of bulk materials should be estimated periodically e.g. monthly or quaterly depending upon project lifecycle.The estimation should always follow closely the engineering progress.It is a good strategy to maintain buffer stock of certain minimum quantity to avoid delay in the project due to supply chain management issues.