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A Part Number simply put, is an alpha-numeric sequence used to identify parts and assemblies in your CAD models. This is instead of naming parts "standoff 1", "long standoff", ect. A Part Number quickly allows team members to identify parts from assemblies, as well as which assembly a part belongs too. Finally, part numbers are used in industry, so getting used to them now can help you later in your career.
<aside> 💡 Tip: There is no correct part naming scheme, so instead this guide will show two different methodologies to show different approaches.
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254 part naming examples and formatting taken from their website.