I am trying to setup a product that will have 6 different labels attached to it. Right now the artists have been exporting each label on the template as a separate PNG file and loading them onto each part. My question is would it be possible to setup all the stickers to use a single linked large png so that when I changed the PNG of one, the other 5 changed along with it?
Depends on your model. If the label is just a sticker limited with some boundaries - you can model a few products with some large png, just by moving the label texture to place the correct label in each product (you have to unlink materials for them or use multimaterial).
Can you apply a multimaterial that uses different texture placement for each part? or would this be a render thing of possibly building a studio to render each shot with a different sub material.