Procurement Acronyms

UPC (Universal Product Code)

UPC (Universal Product Code)

The Universal Product Code (UPC) is a standard barcode system used prominently in the retail industry for purchasing and record-keeping purposes. UPCs contain 11 or 12 digits that identify a specific product, such as its manufacturer, size, and type. This helps retailers to quickly and accurately process products at checkout, as well as keep track of inventory and sales data. UPCs are also valuable for procurement departments that need to quickly and accurately purchase goods from suppliers.