Magellans and other places sell
little pouches that you can put your itinerary in so if your baggage gets lost it says in several languages to read the itinerary inside to forward bags if necessary.
I use them when we are on an international trip where we will be here for a few days, than there for a few days, then someplace else. On simple fly in stay someplace and fly back out, I don't use them.
I would do it that way, this way it's dated and they know it's current. If you just label the outside of the bag, there's no way for them to know if it's current or not, and it will probably be ignored.