While this blog post clearly states that EWM will no longer be required and additional SAP messaging @TECHED, The most updated simplification document of 1610 (p. 222) states:
“18.104.22.168.3 Required and Recommended Action(s) The Warehouse Management (LE-WM) and the other components described above is not the target architecture within SAP S/4HANA. The (already available) alternative functionality is Extended Warehouse Management (SAP EWM) and a customer could start introducing EWM upfront to the SAP S/4HANA installation. ”
So, is it or is it not a part of S4?