You could have given little more information about yourself. What is your designation? What is the volume of procurement spend in your company? How many POs are issued per month?
If not many POs are issued per month then tracking the POs on Excel should not be a problem. You can reconcile POs with Goods Receipt Note (GRN) from the store. If getting GRN takes longer time, then you may start reconciliation with security itself.
When you say the "costing of the material", do you mean to say that you wanted to track the stock value per day? For this, you may download relevant software on inventory management from the following website:
Windows PC software downloads and reviews from CNET Download.com
Alternatively, do you mean to say that that you wanted to know how to do costing while procuring the material from the vendor? This is a very deep subject. For this, you need to take the formal training.
I conduct training in the field of Purchase and Inventory Management. To know more about my training activities, you may <link outdated-removed> .
5th June 2015 From India, Bangalore