To utilize registered products, you need to activate the service in the business role and create an installed base.
The service activation enables you to access the registered products work center view and perform actions such as creating, editing, and deleting registered products. The installed base is a hierarchical structure that represents the customer's physical or logical assets, such as equipment, software, or services. You can assign registered products to an installed base to track their location, status, and warranty information. References = Solution Guide for SAP Service Cloud Version 2, section "Registered Products" and "Installed Base"