SHey Chakravarthy,
As you know, the work center concept is used between PP, PM and CS business areas. So it would be helpful for which business area you want to use the work center. For e.g., if you to use work center for Production, work center type would be machine, setup time, etc. If you are setting up for Plant Maintenance or Customer Service, you will have labor type, etc.
Request you to elaborate your requirements, which will help everybody to contribute.
Ketul