The united nations standard products and services code unspsc

United Nations Standard Products and Services Code (UNSPSC)

the united nations standard products and services code unspsc

United Nations Organization UPSC l United Nations Brief Overlook

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It is a four-level hierarchy coded as an eight-digit number, with an optional fifth level adding two more digits. Version 16, released in , [1] contained over 50, commodities. The latest release of the code set is The development of the first version was overseen by Peter R. Benson , who was also responsible for the design and development of the code management procedure as a modification of the Delphi statistical forecasting method.

It enables buyers and sellers to describe goods and services in a common way without referring to any suppliers' in-house catalogue codes and descriptions. The Hackett Group explains how procurement pros can use big data analytics to make better-informed decisions that increase business impact and improve savings performance. Learn more about the new skills and capabilities you need to support an effective, big data strategy. Learn why it makes sense to optimize your raw data for better and more accurate spend analysis. Get comprehensive spend visibility. Move from line-item to enterprise-wide view with a click.

UNSPSC functions as a global multi-sector open standard that helps in classifying products and services accurately. This system of classification gives you the ability to analyze expenditure at grouping levels according to your requirements. Moving up or down this hierarchical coding system lets you view more or less detail, as required in carrying out an analysis. Two decimal digits represent each level. An option to add two more digits exists, giving you the ability to distinguish between retail and wholesale.

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UNSPSC Classifications

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What is the UNSPSC code?

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UNSPSC (United Nations Standard Products and Services Code)

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4 thoughts on “The united nations standard products and services code unspsc

  1. UNSPSC is an efficient, accurate and flexible classification system for achieving company-wide visibility of spend analysis, as well as, enabling procurement to deliver on cost-effectiveness demands and allowing full exploitation of electronic commerce capabilities.

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