"Equivalents" in EPDM is difficult, because that list seems to always change. This is more of an ERP function. Something simple as this may be a good use for EPDM items.
eBOMs can be accomplished with named BOMs or virtual parts. You'll certainly want to investigate some automation to do this though, it is rather tedious to do by hand.
Given we are a medical device design company it is quite important we define the component equivalents (not the contract mfg); expect the FDA would not be pleased to delegate component selection to a contact mfg shop.
Without this capability pretty difficult to say EPDM can support full stream product defintion??