Updating a Master List from a Partial List (VLOOKUP?)

I have a Master List of 30,000 Item #'s in one sheet. Each Item # has a corresponding Description, UPC, Price, etc. From time to time, I'll get a list of say 500 Items #'s where I need to update the Descriptions, UPC's and Prices. If I VLOOKUP the 2nd list into the Master, I'll get #N/A for the 29,500 not on the 2nd list.

Is there a function or process that will allow me to only update the items found in the 2nd list?

Currently, my workaround is creating a 2nd column for each category, performing a VLOOKUP, deleting out #N/A's, and manually copying and pasting each individual cell that contains a value. This can't be the best way, right!?

I think the IFERROR will work. So, that being said, will I have to create a new VLOOKUP column for each criteria (Description, UPC) I need to replace and then delete the original?

Thanks for the help, guys. Wrapping with IFERROR works perfect.

There is one scenario I'm still struggling with though. In the Master file, I have a column that denotes if an item is discontinued. If it isn't discontinued, the cell is blank. So, how would I update the master list based on a partial list, but leave the cell blank (and not read "0") if the 'DISCONTINUED' value is not found on my partial list.

This is the code I currently have, but as I mentioned, if there is no value in the "DISCONTINUED" column, it now returns it as "0":

=IFERROR(VLOOKUP(A1,Sheet2!A:B,2,0),Sheet1!B1)

Let me know if I'm not wording this clearly enough.