Government furnished property is property that is furnished to a contractor for performance of a Government (DOD) contract. There are two types of government furnished property:
Government Furnished Equipment (GFE) - Equipment, special tooling, or special test equipment that is provided to a contractor for use on a Government contract; and
Government Furnished Material (GFM) - Parts furnished by the government to the contractor to support inventory or manufacturing requirements of a contract.
The GFM/GFE Purchase Order feature allows contractors to track when materials or equipment furnished by the government are due to be delivered.
The Material Requirements Planning module can generate purchase requisitions for processing these items into purchase orders if the demand for GFM parts exists in the Inventory module. These purchase requisitions are tagged as GFM/GFE purchase requests. This type of purchase does not have any financial impact in the Accounts Payable module.
During the receiving process, items for fixed asset tracking will create the Asset ID for tracking GFE orders. Using the GFM inventory abbreviations, parts being procured for stock can go through standard receiving and inspection processes to acknowledge receipt and acceptance for parts for use within the inventory.