Not really.

But if you use Lot Base Structure/Routing, it it will pick the Alternative based on the lot rules set in Structure/Routing.

The MRP isrun for the part. The need date is considered against the revision dates, which is done by the system. The alternate is within the revision and therefore, the alternate will be the default unless a new revision is created. 

Hi Tharindu,

Good questions, as it makes us think of the overall behavior of the flow.

The nearest answer to your question would the subsequent sequence field that you have. In a scenario where multiple alternates are present.

• Substitution Sequence
  Enter the order in which the system should consider the alternate components, if there are several alternates for one component.

From MRP or PMRP job there is not setting to select to satisfy your requirement.

However, if its  Lot Base Structure/Routing. The answer which Aan explained would help you solve the doubt. 

Cheers,

Praveen Wijetunge