If you need to change you BOM and do a search and replace functional you can use the periodic function under inventory and warehouse management called Change BOM item. This is fairly simplistic in it’s operation as it essentially does a search and release. You can either overwrite which is like a search and replace where the existing item in the BOM is changed for the new item. Or append which will add a new line to the BOM.
Keep in mind replacing an item is the whole procedure as you will have to look at things like the BOM cost. For example if you change an item for a different item then you will likely want to run the BOM cost roll-up to get a new cost price for the item especially if the replacement item cost price is different.
Here is a quick overview.
AX2012 R3 CU10.