BOM is one of the most important documents in a manufacturing company. Like the
recipe for a cake, it is a comprehensive list of all the ingredients required to
make or assemble a finished item. These ingredients are the components, parts
and raw materials that are used.
Item - usually is purchased from outside source
BOM - produced in-house and contains components to go for the finished product
Service - represents a service e.g. hourly rates for services during manufacturing