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Query: "can oracle inventory forecasting be used without order management?"
Yes, in that case it can accept manually entered forecasts or forecast generated from Inventory demand history (say Miscellaneous issue, Inter-org Transfer, Issue to WIP) excluding Sales Order issues (as OM is not included).
For remaining questions you can refer to my earlier post under the following thread. Please refer to the bottom section (thread was started with a different subject)
serial attribute and org attribute problems with item master
If your questions are answered you can mark the thread as appropriate.