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While adding related products in the admin panel currently you search by typing the title of the product, which ofcourse can create a confusion if two or more products have the same title. So it is better if Model/SKU code is mentioned along to discriminate each product.

In that case all you need to is just goto:

Admin>View>Template>Catalog>Product_Form.tpl

Search for:
label: item.name,

Add thisĀ 
+’-‘+item.model,

Your Code should look like:
return {
label: item.name+’-‘+item.model,
value: item.product_id
}

If you want to append the name by SKU, then instead of model you can write sku