Global Classification System
The United Nations Standard Products and Services Code is a hierarchical convention that is used to classify all products and services. It is the most efficient, accurate and flexible classification system available today for achieving company-wide visibility of spend analysis, enabling procurement to deliver on cost-effectiveness demands and allowing full exploitation of electronic commerce capabilities. The United Nations Standard Products and Services Coding 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.
The Marketing and sales organizations should endeavor to mark-up electronic catalogs, invoices, and other commercial documentation with the UNSPSC. Purchasing departments should incorporate the codes in purchasing systems to assist employees throughout the company to find and purchase supplies and, for themselves, to analyze the supplies expenditures of the company. Nonetheless, most company coding systems today have been very expensive to develop. 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’s suppliers usually do not adhere to the coding schemes of their customers if they assign codes at all. All companies should consider using the UNSPSC as a routine matter of business. So, get your UNSPSC code today.
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