hi,
NAV has not a configurator, you can find some addons for for this purpose (size, color ? .. i suggest to you K3 Pebblestone Fashion )
firsts question
we can give attributes for that product eg(size,color)?
> yes, i suggest to use ITEM VARIANTS to do this , or dimensions like suggested by Jonathan
Is there a need to define the category types while setup?
> look to Jonathan suggestions .. item category, dimensions, custom fields..
For BOM
can we maintain separate inventory for sub level item?
not clear, are you talking about MRP for Jobs ?
by design NAV is MRP II technology, finite loading (limited)
About Inventory Management
> you can define Locations\Zone\Bins to manage inventory
> you can also set up SKU (stock keeping unit) for items > and map to locations
if you talk about Job
> you can simulate sub level item inventory using jobs;
using item in job\tasks\planning lines, you can launch MRP and mantaining inventory for job\tasks
below some links
Perform Material Requirements Planning
msdn.microsoft.com/.../hh173254(v=nav.90).aspx
How to: Plan for New Demand
msdn.microsoft.com/.../hh173272(v=nav.90).aspx
Configure Warehouse Processes
msdn.microsoft.com/.../hh173944(v=nav.90).aspx
Jobs
msdn.microsoft.com/.../hh172378(v=nav.90).aspx
How to: Check Item Availability for a Job
msdn.microsoft.com/.../hh172365(v=nav.90).aspx