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Check material shortage item attribute not honoring item template value

Currently, the item attribute "check material shortage" is reserved for future use as per Oracle support @3-29225124271,3-29254552081. But we want the functionality as below.

if the requester is shopping on the catalog and no on-hand
quantity how does the requester be notified about this? Can we display on-hand
quantity and price on the catalog.
Also,
please confirm how does the back order gets created if a check for material
shortage is not happening.?

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Added on Apr 19 2022
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