In the ZenWorks Asset Management Documentation, it says:

8.2.8 Deleting a Custom Report or Folder

WARNING:If you delete the reports in the Local Product Creation folder, you wont be able to create Local Software Products.
What happens if you deleted these before you read this? This is what I get for being anal-retentive and cleaning up things "I don't need"...

Now, when I try to go to Configuration->Asset Inventory->Local Software Products->New->Create from Software Files by Machine it says

The data you requested is not available.

Details: Not on row