Yes ― the position of a bit matters.
How many patterns can be formed with three bits? Let's list them:
0 0 0
0 0 1
0 1 0
0 1 1
1 0 0
1 0 1
1 1 0
1 1 1
Looks like 8 patterns.
Is the number of patterns that can be formed with N bits greater than the number of bits?