UNSPC (United Nations Standard Product & Services Code)

The United Nations Standard Products and Services Code (UNSPSC) is a hierarchically structured international classification system used to describe products, services, and research activities. It provides a unified, comprehensive, and global framework for clearly identifying all products and services within the procurement process. It helps reduce ambiguity while providing an efficient way for buyers and suppliers to identify exactly what goods or services are being sought. The UNSPSC facilitates the accurate collection of data and can be used for analysis of purchasing trends, international market comparisons, product performance assessments, and more.