Introduction to Product Libraries
As the concept of Product Library is to be placeholder for assets and configuration that constitute to a product, the library is the main way to either complicate or simplify your ability to manage your product portfolio.
You have to balance between having few places where to upload assets to and have nice an tidy workspace for configuration that works rather fast versus easier asset management and more complicated and full product tree view. See the best practices for more.
The product library view contains all the configuration and assets linked to the configuration for all the products defined in the product library with also the localization of textual reporesentation of the products.
The product tree view contains the hierarchy of items and once you select any item from the tree, the item property view panel will load the property data for editing.