Template No. Question

We have a company with BOM turned on as well as Production Management turned on. A few questions have been asked about having a template number on an item in Item Maintenance. The issue with this is for us an item could be used in multiple different product builds so it could not be assigned to just one template number. 

Is it going to matter if we decide to put a template number on the item in Item Maintenance? Will this affect BOM or Production Management?