If you have a part you can use the File\properties click on the tab custom. There you can customize settings that can be used in the drawing. Remember to always use a single word or use _ between words.
ex:
CutLength or Cut_Length
In the drawing you can link info from what you just defined in the part. There is a link button on the side of the note window. To get to this window Right Mouse click (RMB) on the text and go to properties. After you pick the link button, pick the Name you choose and ok it. That's about it.
Now if you want the info updated just change the info in the part. Then go back to the drawing.
Or you can set up your drawing the way you want, using this same method just in the drawing itself. Save it as a template (.drwdot). Then it can used over and over again.