The United Nations Standard Products and Services Code [UNSPSC] is a widely used coding system for goods and services. The use of a common coding system enables buyers and sellers to describe goods and services in a common way without recourse to suppliers’ own catalogue codes and descriptions. The UNSPSC framework adopts a four or five level hierarchy, using the labels Segment, Family, Class, Commodity and Business Function (optional). The UNSPSC is increasingly used to classify categories to allow spend analysis and to facilitate e-Commerce.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.