I still do it the old way b/c I use an older version of Inventor.
Like @swalton I manually create the BOM ItemNumber.
My number is a composite number that's for identification purposes.
So you can make your own number any way you want using any number of iProperties combined into one number that shows up in the BOM/PartsList. If you use Excel, just think of it like Excel's Concatenate, except you're doing it the Inventor way.
The key to numbering is to number at the very end of the project.
But if you don't do that, when you have your own ItemNumber, it doesn't matter, b/c the ItemNumber won't change automatically and it will remain constant on a per-part basis throughout the project's life-span, compared to using Inventor's build-in numbering system.
Numbering is a critical topic in the engineering world that's little discussed and hardly acknowledged.
To reiterate, numbering at the end of a project before drawings are released (if possible) is a 'best practice'.
Otherwise, you would need PreliminaryNumbers and then ReleaseNumbers, or something along those lines.
But then the whole thing gets even more complicated.
... Chris
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