Well, it mainly depend on...which PDM we are dealing with

!
Anyway, we have a strong integration with DBWorks, DBInventor and SolidWorks Enterprise PDM.
It's not easy to explain with few words the whole process but these are the main features available:
Ability to assign part-numbers to newly created components
Advanced query options to reuse existing components
Project creation and management
I hope that this helps LConf..Let me know if you need further help, I'll be pleased deepen this argument!
GW