One company I worked for only put the part number and desccription from the component in the BOM.
We used very generic terms to describe the part: BOLT, HEX HEAD or BOLT, SHOULDER HEX SOCKET.
We did try being more descriptive for the BOM: BOLT, HEX HEAD, 3/4-10 X 3, but the aftermarket guys made us change to all generic descriptions.
We also carried that practice over to our parts manuals, so a customer who broke a bolt would be more likely to order a replacement from us as we only gave them our part number and the generic description.
Here, we use a similar description for the primary name column but also include a secondary column with the vendor name and their part number. We only build ofor internal use, so we can be more descriptive.