United Nations Standard Product and Services Classification (UNSPSC)

Popular Terms
Global, open standard for classification of all types of goods and services. It is a five-level logical framework where each level is identified by a two-character numerical value. These levels are (1) Segment: aggregation of good or service families for analytical purposes. (2) Family: commonly recognized group of interrelated item categories. (3) Class: group of items sharing a common use or function. (4) Commodity: group of substitutable good or services, and (5) Business function: function performed by an organization in support of the good or service.

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