An ERP implementation brings a useful discipline: a price, a part or a customer must be represented consistently enough for a transaction to proceed. The difficulty is that departments often use the same term for different things. A product family might be adequate for a sales report and quite inadequate for ordering a size-specific spare.
Before migration, trace a quotation through the order, fulfilment and subsequent service enquiry. Identify which distinctions have to survive that journey and who owns them. If the old system concealed an ambiguity through a manual workaround, moving the field does not resolve it.
The strategic choice concerns the operating model the system is meant to support. The implementation should make that model usable and its exceptions visible; it cannot decide the model on management's behalf.