How to enable Variant manager feature in 9.3.1.2?

Currently I try to enable variant management feature . As per the guide, i tried to set “BOM Variant Configuration Preference” parameter value in user preference but the parameter is disabled and showing “no privilege” . Please refer the attached screenshot. Variant manager is a default feature in 9.3.1.2 or do i need to install any additional patches?

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Did we get any closure on this?  If you have solved this please elaborate here on the solution for future reference.

Agile Angel Answered on November 16, 2017.
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