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Part Label is one of three fields that packager uses when doing its stuff. Basically it works on Part Number, Part Name and Part Label and compares the entries on the symbol with the data in the PDB. This is actually historic and comes from the original Design Capture/Expedition flow. It is still the mechanism used if you only use the Central Library view in Databook (no associated parametric database). It is always simplest to keep the Part Label in the parametric database to ensure there are no issues with packaging, even if you don't actually use it - in my case my Part Label is usually the same for similar objects (all resistors for example have a specification number that is identical). Part Number is the only field that needs to be unique and Part Name is less important and again need not be unique (in my case it is mapped to symbol name).