There are multiple methods for specifying the material of a part depending on which module you are using. Material can be set in the FEA module, the Part Library module, and the Sheet Metal module. Setting the material in one, however, does not set it for another module. For example, if you create a sheet metal part using the Sheet Metal module, you set the material. But that does not automatically set the material for the FEA module, and the Part Library module shows "No material defined" if you inquire the material. Ideally, you should be able to set it once and have it available everywhere, and this should be part of the base functionality.