Hi Doug,
Yes synonyms seemed to do what I was hoping it would do, although my interest was more in the architecture of setting up CETEC then its day-to-day use. At the CETEC ERP Conference in October there was a great session on the MRP purchasing module that incorporates much of the logic that I think you are looking for. A lot of your data entry and demand has to be accurate to use it correctly, but it should consider things like Shelf life, Synonyms, etc. if my notes are accurate.
We are an OEM and use work orders, outsource POs, and BOMS within CETEC to manage our inventory and demand. Hopefully that helps a little, the community is great and I am sure more people can help better than I can.