When you create or edit an installed base, you can assign different objects to it at item level. The objects that you can assign are:
Product: This is a generic product that is not serialized or tracked individually. You can assign a product to an installed base to indicate the type or category of the product that is installed at the customer site.
For example, you can assign a product called "Laptop" to an installed base to represent any laptop that belongs to that installed base.
Registered product: This is a serialized product that has a unique identifier and can be tracked individually. You can assign a registered product to an installed base to indicate the specific product that is installed at the customer site. For example, you can assign a registered product with a serial number
"123456789" to an installed base to represent a particular laptop that belongs to that installed base. A registered product can also have warranty and maintenance plan information associated with it.
Functional location: This is a logical or physical location where the products are installed or used. You can assign a functional location to an installed base to create a hierarchical structure of the installed base. For example, you can assign a functional location called "Office A" to an installed base to represent a sub-location within the installed base where some products are located. A functional location can also have other functional locations, products, or registered products assigned to it as sub-items.
Maintenance plan: This is a plan that defines the schedule and scope of the maintenance activities for the products. You cannot assign a maintenance plan to an installed base at item level. A maintenance plan can only be assigned to a registered product as a sub-item. For example, you can assign a maintenance plan called "Annual Service" to a registered product to indicate the frequency and type of service that the product requires.
Warranty: This is a contract that defines the terms and conditions of the warranty coverage for the products. You cannot assign a warranty to an installed base at item level. A warranty can only be assigned to a registered product as a sub-item. For example, you can assign a warranty called "Standard Warranty" to a registered product to indicate the duration and scope of the warranty that the product has. References = Using an Installed Base; Using Installed Bases and Registered Products