I worked for a distributor/integrator as essentially a controls engineer for for nearly a decade. In that time I started up panels made by at least 50 different companies, chasing down wiring errors and fixing screwed up EStop circuits (always the EStop circuit).
A wire is one thing and should have only one identifier clearly labeled on both ends (and it should have a ferrule on both ends if it is stranded and below a certain gauge). The drawings are there to tell you where that wire goes, that isn't the wire's job. The identifier on the wire should tell you exactly where to look in the drawing for it (usually by panel number, then drawing number, then line number, then in some instances, A or B or what have you). Terminals should be labeled with the wire identifier that is landing on it. If a wire leaves the panel, it is not a wire, it is a single conductor cable. If your wire is 24 volts or common, please don't just give it a number, label it 24V or COM. If that 24V is fused or EStop switched, call it 24V <line number>, please.
Cables (including analog sensors that must wire directly to IO, sensors going to terminal blocks, motor cables, and even EStop circuits) are also one thing and should be labeled at both ends. Usually, these are named after the remote thing and that name is shown in the drawing landing on the terminal or device. Bonus points if you let me know where to look in the drawings for it, but, unlike wires in the panel, I do actually want to know what sensor that cable goes to without cracking open the drawings. A good cable name might be "AtStop_PE6/0735" for a photo eye commonly referred to as the "At Stop" sensor that lands on terminal 735 which shows up on page 7 line 35 of the drawings. "TurretMotor/0310" or even just "TurretMotor" is worlds better than "MotCbl0310"; I'm sure I can find the Turret Motor drive in the drawings easily enough, but most likely I just want to make sure it's plugged into the right drive and/or motor.
If your cable is multi-conductor to another panel, you had better detail the conductors in the drawings. If you're picking the cable, my favorite had white wires with thick black rings to denote counting by 5 and thin black rings to count by ones; for 40 conductors, it could tell you the wire number from any viewing angle repeated every inch and a half. A million times better than trying to figure out which wire is teal and which is turquoise between two wires that both look mint green. If you are going from a junction box to a panel and number the terminal blocks the same on both ends (as you should!) and number both ends of each conductor in the cable (all good things), you should still note the conductor color or number in the drawings. That way I don't have to take my own notes to figure out which side got labeled incorrectly.
