Rental Order – An overview

Airline operators always have to compromise on inventory levels because of operational contingencies. Though they operate with modern inventory techniques, they often find themselves in short of an important part or being requested by a fellow operator to lend a part to overcome contingencies. Thus, Rental Order, an order acknowledging the request of a customer (could be fellow operator) to lend a part, typically a rotable or test equipment for a specified period, becomes essential to keep airplanes off the ground.

Rental Order facilitates leasing an item – normally a component to a customer, such as fellow operators so that they overcome short-term requirement of the component.

The “Rental Order” business component enables you to create and maintain a rental order. You can enter terms and conditions, taxes, charges and discounts and penalty charges applicable for the rental order. You must authorize a rental order to enable creation of an issue document. After authorization, the rental order can be modified through amendment. Once the data entry is complete and the rental order is authorized, it can be released. You are provided with the facility of recording the shipment details of the part and the customer acknowledgement details in this component.

Getting familiar with the activities