Chapter 6. Purchasing 91 You may use the Receive Rotating Items action to create records in the Assets application for rotating assets. Request for Quotation This application is used to request and manage vendor quotations for prices and delivery information for goods and services. Terms and Conditions This application is used to enter and maintain a library of terms and conditions to be used on contracts and purchasing documents. These terms can contain information such as liability concerns, shipping and handling details, or delivery time expectations. 6.1.1 Purchasing and inventory The Purchasing module works closely with the Inventory module to maintain balances of items and materials in company storerooms. When you reorder items either manually ( using one of the reorder actions in the Inventory application), or automatically, IBM Maximo Asset Management automatically creates one or more of the following types of purchasing records for the reorder: Unapproved purchase requisitions ( PRs) Approved purchase requisitions ( PRs) Unapproved purchase orders ( POs) Approved purchase orders ( POs) 6.1.2 Internal versus external purchases To centralize purchasing, all inventory purchasing can be done through a central storeroom, and all other storerooms can purchase their stock from that central storeroom. IBM Maximo Asset Management supports this type of purchasing by allowing you to create two types of purchase requisitions and purchase orders. Both purchase requisition ( PR) and purchase order ( PO) records contain a check box, labeled Internal?.