There is no Engineering Change Management (ECM) category to choose, which is odd, but this should fall under that category.

Currently engineering product categories are designed to only apply to a portion of the item master because they can only be created with a production type of BOM or Formula. The means that any co/by-product that is output on a formula cannot be engineering controlled, because they would have production types of Co-product or By-product. This means the following functionality cannot be utilized on an entire item master. (Listed on the Feature Overview from the MS documentation)

• Product versioning
• Enhanced product release functionality that lets you maintain product master data in one legal entity (the engineering company) and publish the fully configured released product to other legal entities
• Rules for validating that required information is entered before a product version is activated (readiness checks)
• Improved product lifecycle management through fine-grained control over when a released product can be used in specific business processes
• Engineering change requests that are supported by workflows
• Engineering change orders that are supported by workflows