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12-29-2011, 05:32 AM
The UNSPSC product and services coding convention allows for the easy identification of relevant suppliers of a certain product or service. Its uniform codes allow computer systems to automatically list similar products and services under a single category, thus ensuring precise searches. The UNSPSC Classification (http://www.enventureonline.com/) has five levels. This allows users to search products more precisely (since searches will be confined to logical categories and eliminate irrelevant hits) and it allows managers to perform expenditure analysis on categories that are relevant to the company’s situation. Its coding system brings a single, uniform view of all expenditures in the company, thus allowing purchasing managers to analyze enterprise expenditures.
Each level, including the lowest commodity of the UNSPSC hierarchy has a unique number assigned to it. For any given UNSPSC number, one can tell the segment family and class the particular commodity belongs to. This feature allows purchasing managers to get an overview of all the expenditures in an organization. UNSPSC’s five level coding and classification system allows companies to use the convention, but still be free to create taxonomies for their own purposes. With a unique numbering system, automatic translation from the UNSPSC coding scheme to another schema is possible with off-the –shelf software tools. UNSPSC is a symbology specifically designed for assisting the commercial activities of product awareness, discovery and spend analysis. It’s flexibility, elaborate hierarchy and capacity to keep pace with market dynamics has resulted in it emerging as the universal standard for classification and the backbone for the conduction of business on the internet.
Each level, including the lowest commodity of the UNSPSC hierarchy has a unique number assigned to it. For any given UNSPSC number, one can tell the segment family and class the particular commodity belongs to. This feature allows purchasing managers to get an overview of all the expenditures in an organization. UNSPSC’s five level coding and classification system allows companies to use the convention, but still be free to create taxonomies for their own purposes. With a unique numbering system, automatic translation from the UNSPSC coding scheme to another schema is possible with off-the –shelf software tools. UNSPSC is a symbology specifically designed for assisting the commercial activities of product awareness, discovery and spend analysis. It’s flexibility, elaborate hierarchy and capacity to keep pace with market dynamics has resulted in it emerging as the universal standard for classification and the backbone for the conduction of business on the internet.