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  • Global Product Coding

    The United Nations Standard Products and Services Code (UNSPSC) provide an open, global multi-sector standard for efficient, accurate classification of products and services. The UNSPSC coding offers single global classification systems that can be used for company-wide visibility of spend analysis, cost-effective procurement optimization, and full exploitation of electronic commerce capabilities. This system assigns an eight digit numerical value code to all forms of commerce; some include farm products, mining, manufacturing, transportation and charitable organizations, with the end goal resulting in a specific code for all forms of commerce. The UNSPSC coding system has achieved global recognition and currently has over 19,000 commodity codes.
    UNSPSC is an open, global standard taxonomy that allows organizations to consistently classify the products and services they buy and sell. Sanctioned by the United Nations and administered by GS1 US, the UNSPSC is designed to group similar products together into categories, which is valuable for analysis, organization and searching for and ordering products. The effort to implement and maintain these systems usually requires extensive utilization of resources, over an extended period of time. Additionally, maintenance is an on-going, and expensive, process. For each new item coded, it takes on average of an hour and a half to assign a code. Also company