Bake Origin and Orientation for Blender

It's for baking the origin and local orientation of the mesh based on the normals of the selected mesh component. This can be done manually too. It just basically saves you some time from messing around with the 3D Cursor, custom Transform Orientations, and origin.

Gives you the option to either bake the pivot or orientation only.
The shortcut is Shift + Alt + B in Edit Mode after selecting a component, or Mesh > Bake Origin And Orientation

If used on a parent, it will offset children. A workaround for now it's to unparent the children first (keeping transform), bake, then re-parent them. I might automate this too in the future.