TL;DR: Not yet, but Zoho is working on it. Long answer: currently, Zoho is gathering information, studying different scenarios, and analyzing frequent and related workflows to incorporate the manufacturing processes into Zoho Inventory. So, if you wish to contribute, please drop us a line about your business manufacturing requirements or directly to Zoho at [email protected].
As a workaround, you can utilize the bundling function within the composite items feature to represent basic assemblies that do not require a BOM (Bbill of Materials). With bundling, you can create kits comprised of the raw materials and labor cost involved in producing the finished goods.