A bulk storage and dispensing system has transportable silos releasably secured at bottom ends thereof to a fixed silo location on a site surface. A conveyor assembly is releasably secured to a fixed conveyor location on the site surface adjacent to the silos and includes a lower output conveyor, an upper input conveyor, a rigid upper frame, and a conveyor raising mechanism operative to raise the conveyor assembly from a lowered transport position to a raised operating position. The lower output conveyor receives granular material from each silo and discharges same at a desired location. The upper input conveyor receives granular material when in the raised operating position and directs same into each silo. Upper silo locks lock upper portions of the silos to the rigid upper frame of the conveyor assembly when the rigid upper frame is in the raised operating position.