When replacing a component on an assembly sometimes we
Drop additional component/s from the library and it will be useful it the components that are replacing existing components could be selected on the feature manager window as well. 
When replacing a component on an assembly sometimes we
Drop additional component/s from the library and it will be useful it the components that are replacing existing components could be selected on the feature manager window as well.
Thank you Glenn and yes, it would be faster to select the new component from the FeatureManager instead of browsing .
When I open the file from the library first and then open the dialog to replace component it does appears in the white box below but when I click on ok, a pop-up message appears on top that reads. "Please browse for component ...
When the component is in the white box you need to click on it to select it. If you have multiple parts open they will all show in that window and you need to select which one you want.
Thank you very much Glenn. I have learned something new.
Do you mean that you would like to select the new component from the FeatureManager instead of browsing to select it? If the new part file is open, then it will show in the white box in your screenshot and you can select it. If that isn't what you mean can you explain more?