Product Label Management in Windchill

You could sub-type the document object to have your own label object. Not sure about authoring tools, its common to add PDFs as content for labels into Windchill, and if the source file is needed add that as an attachment to the label object. Arbortext could be a solution if you want to store everything in Windchill, but I think its serves more complex needs than labels (unless you labels are complex). Like any other object you would use promotion process to release the label.

At a prior company, we did not make the labels, but we did design them.

In the CAD system, we would create a drawing of the label describing the area of the label, background color, font color, font style, etc. as a note along with the desired text. There could be multiple blocks used to define 1 label.

One label we used was off-the-shelf, it said "Made in USA" with an American flag.

At the bottom edge in small print was "Printed in Canada".