The United Nations Standard Products and Services Code
Every business owner have a dream to expand their business to the max. The max is going global. Going global means you can buy a Ferrari by cash. When preparing to going global, a bigger plant at 3rd world country to get cheap labor for producing you product will be okay but not enough. We also must comply with some Industry Standard what ever it is to remain competitive.
The UNSPSC offers a single global classification system that can be used for:
* Company-wide visibility of spend analysis
* Cost-effective procurement optimization
* Full exploitation of electronic commerce capabilities
One of it are products standard service code issues by The United Nations. To be a member into this world standard organizations is not to expensive like ISO standard. Only $300 a year for UNSPSC Corporate Individual Membership. But you may browse and download the current version of the code at no cost. The industry initiatives of UNSPSC is to promote the UNSPSC Classification System to increase productivity, reduce organizational costs, and improve procurement and supply chain efficiency. Find more about it here.
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