What does 'Bills of Material (BOM) Management' mean?

Bills of Material (BOM) Management is a crucial aspect of any software that deals with inventory management. It is a comprehensive system that helps businesses to accurately track and manage their inventory levels, production processes, and supply chain. BOM management is essential for manufacturing companies as it allows them to create a detailed list of the components and sub-components that are required to produce a finished product. With BOM management, businesses can maintain the overall product structure, including the quantity, type, and cost