Target Audience: distribution companies which manage high value items with specific characteristics.
Impacted Areas: Purchase receipts, shipments, and sales orders (could be others). A new screen which exposes lot/serial numbers along with custom defined fields is often requested for importing data.
Sample Workflow: Distribution company receives lot/serialized items which have specific attributes. These attributes impact which serial or lot number can be sold on a sales order. The sales person would like to be able to find all widgets which can fit in a specific tolerance or have a specific feature.
Other notes: (1) This is difficult to implement properly as a customization because you need to touch purchase receipts, shipments, sales orders, and build a custom screen for modifying values. (2) Workaround is to enter a new inventory IDs for each serial numbered items - but this is not practical when there is a large number of attributes or attribute values.