With PSM, you could have multiple layouts predefined, and then for each records, have a different one print out. So for example, you could have a layout for customer A, a layout for B and a layout for C. Each records would have a "Customer" field, and you'd be able to put a condition on each layouts to only print if the Customer field corresponds. So if record 1 is for customer A, it will pick layout A. If the second is for layour C, it will pick layout C. If the third is A again, it will pick layout A, and so on...

Hope that answers your question!