Here, assume $M > 1$
There are 3 cases
1. M < N
2. M = N
3. M > N
Each places can receive from 0 to M objects.
EDIT: example
M:1,2,3
N:5
Some possible combinations:
1,2,3,0,0
{1,2,3},0,0,0,0
{1,2},0,0,0,3
....
Here, each M components are different, so
$1,2,3,0,0 \neq 2,1,3,0,0$
But,
$\{1,2,3\},0,0,0,0 = \{2,1,3\},0,0,0,0=\{3,1,2\},0,0,0,0=…$
Therefore, once we consider more than 1 objects together, we do not consider the order of the objects in that particular group.
Repetition is not allowed.
Best Answer
Distributing M (different) objects to N (different) places/bins, repetition allowed, is equivalent to filling M (different) positions from N (different) choices, repetition allowed.
By the multiplication principle, there are $N^M$ ways this can happen.
A concrete example: there are $4^7$ ways for $7$ prizes to be distributed among $4$ participants, and there are $7^4$ ways for $4$ prizes to be distributed among $7$ participants.
P.S. On the other hand, distributing M identical objects to N (different) places/bins, repetition allowed, is a different story.