Generally a bad idea for the quite obvious reason that it forces you to revise all higher-level drawings when any lower level drawing is revised.
A robust configuration management system needs to be able to do more than can be done on an engineering drawing. It should, for example, be able to tell you the rev levels that were current at the time of production for every serial number built, and answer compatibility questions about what changed with each revision of each drawing. With that information you can make a decision if you ever need to make a replacement part for any serial number. Do I have to produce a replacement to an earlier rev, or will the current rev work?
The CM system should also tell you about things like software versions installed, modifications made, production test and inspection results, and the names of everyone that worked on the equipment.