"Smart" Part Numbers don't have to be complicated ... start off small. Pick your main categories first ... Catalog Numbers (sellable items), Main...
You might want to look at Genium Publishing ... this is a huge book of drafting/engineering standards that should be pretty helpful. Or you may...
This is probably one those discussions that will always circulate through engineering chat-boards. I've worked on both sides of the fence on this...
I've used (3DConnexion's) SpaceExplorer and SpaceNavigator and while I think they're good products, I'd rather use the zoom, rotate, select, etc....
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