The SynchronizeRenderColors command changes an object's material color to match its display color.
If the object does not have a material assigned, a new material will be created and assigned to the object's layer.
Steps
Selectobjects to apply their display colors to material colors.
Command-line option
-AllLayers: Apply the display colors of all layers to layer materials. If a layer does not have a material assigned, a new material using the layer's display color is created for the layer