Hello
If your are concerned about error handling during update failure, then you can create a custom application log to log errors and send a email (with attached application log details) to Distribution list for action. You can also include the email step/decision step for error handling in the workflow
I can certainly modify the workflow logic/process to break down the list into manageable chunks.
I think it is good idea to package the PO's and PR's related to material into groups for processing.
Regards
Sandy