The video explains how SOLIDWORKS Manage enhances bill of materials (BOM) management beyond traditional methods like spreadsheets or CAD tables. It enables adding non-CAD items, creating engineering and manufacturing BOMs, and managing variants for different locations with custom fields. Users can import BOMs from Excel or other systems, maintain data integrity, and keep BOMs synchronised with design changes while preserving revision history. Advanced tools allow filtering, searching, and comparing BOMs with clear visual differences. Reports can be published for stakeholders, and BOMs can be built via the web client. The system streamlines approvals and collaboration, reducing manual updates and errors.