1. An automated method implemented on a computer for evaluating inventory impact due to an engineering change to an item, said method providing for an inventory cost analysis due to the engineering change, said method automatically performing the following steps in response to a user inputting a part number identifying the item affected by the engineering change: retrieving from a bill of materials database all parts affected by the engineering change to the item; and displaying a list of affected part numbers and the costs due to the inventory change.