UNSPSC stands for The “United Nations Standard Products and Services Code”. And a plenty of information can be found at unspsc.org.
UNSPSC codes are for categorizing products using a open standard. The benefits of using UNSPSC are
*. Companies don’t have to spend time and effort coming up with their own classification scheme for the products
*. It is an open standard and contributed by many people in the world. So, your business customers and suppliers are probably using the same classification.
*. It is a 4 level classification. The levels are Segment, Family, Class and Category.
