UNSPSC meaning in Governmental ?
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Answer: What is United Nations Standard Products and Services Code mean?
The United Nations Standard Products and Services Code (UNSPSC) is a taxonomy of products and services for use in eCommerce. It is a four-level hierarchy coded as an eight-digit number, with an optional fifth level adding two more digits.
The latest release of the code set is 22.0601 (as of February 2020) and contains 156,478 codes.
The UNSPSC competes with a number of other product and commodity coding schemes, including the European Union's Common Procurement Vocabulary, ECLASS, and GS1's Global Product Classification.
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