UNSPSC stands for United Nations Standard Products and Services Code(UNSPSC) and is a taxonomy used across industries for e-commerce enablement, to classify, and categorize products and services. The UNSPSC code has a four-level hierarchy, coded as an eight-digit number, with an optional fifth level adding two more digits. The four primary levels of the code are Segment, Family, Class, and Commodity, with each level coded in two decimal digits.
The UNSPSC codeset has over 1500000 codes. Asset intensive industries who procure MRO materials (indirect materials) in large volumes utilize UNSPSC as a classification standard as the MRO taxonomy is in UNSPSC is quite comprehensive and can enable spend categorization and detailed spend analytics.
In the context of MRO, a UNSPSC code is assigned to every part, and this can also be mapped to a company’s internal commodity structure. For most of the inventory optimization or MRO data cleansing and enrichment projects that we have been involved in, UNSPSC has been the classification system preferred by the client.
A good time for you to consider incorporating UNSPSC classification is if you are doing one of the following:
We have also executed several projects, where clients needed their existing products and services to be mapped from one classification structure to another. For such projects, we provide classification mapping, to cross-reference UNSPSC to other schemas like eCl@ss, eOTD or vice versa.
To learn more about UNSPSC, please visit www.unspsc.org