Hi,
We had the same requirement for a recent install.
We quickly created a Gridview Workspace that listed the BOM master items, and then linked it to a composite table that showed the BOM details, with Qty available as a calculated field and shortages (in red) because colours are easier to see.
We added the finder feature because they have thousands of BOM's.
Appears to really do the trick, and way faster than the crystal report that they were considering us to modify.
Brian