Save scumming in this game is possible in this game, at least on PC.
On PC, disable Steam's cloud save feature. Then you can just copy your local save file somewhere else and restore it to the save file directory if you want to roll your game back to that point again.
The PC save file is in your Steam directory at:
"{Steam install directory}steamappscommonOmega Labyrinth LifeDocumentsLocalSaveData_0.svd"
This site will not get into details on how to install and use Cheat Engine, however, if you choose to use it, you can reference this section for the item IDs of everything in the game.
Be aware that, if done improperly, changing item ID values can glitch your game and cause it to freeze. The best way to avoid this is to only change items of the same type. For example, it's safer to change a weapon into a different weapon or a tome into a different tome. Your game is more likely to freeze when you've created an item with attributes it shouldn't be allowed to have, such as food with a Luster value, which is the type of thing that can happen when you change items of different types.
Exercise extreme caution when using Cheat Engine with this game. You shouldn't use it unless you know how to save scum. Always make sure to back up your save file before modifying item IDs.
Proceed at your own risk.