Is there a way to rotate a part based on a new coordinate system?

I have a vendor supplied part that is not oriented correctly.  I would like to orient the part based on a new coordinate system that I defined.  Is there a way (possibly with a configuration) to rotate the existing part based on the new coordinate system?  I know I can do a "save as" parasolid  using the new coordinate system and reopen the new part and it will come in correctly.  However that seems like the long way around.  Is there any way to work with the existing part and get where I need to go?

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