In the past when students, faculty and staff wanted to make copies that didn't fall under fair dealing, they were required to contact individual copyright holders and obtain permission. That process was often onerous and time-consuming. Many individuals didn't even know where to start. Thanks to the licence your university has process. They can also make slides and transparencies.
Librarians can make multiple copies of a work to put on reserve.
Copies can be made for administrative purposes. Multiple copies can be produced by the university bookstore for inclusion in student course packs. The licence can even be used to clear copyright for copying onto microfiche and into alternate formats for the visually impaired, although special provisions apply. No record-keeping is required, as long as the copies are not sold. This amount will likely be included in the price of the course pack when it is sold to students.