Organize the list of materials and services items by category is an indispensable task to improve supply chain processes management. With taxonomy companies would obtain detailed visibility into purchases and consumption, gathering data to support Strategic Sourcing and Spend Analysis projects.
Strategic Sourcing and Spend Analysis projects are important to development of contracts, improve inventory, implement electronic catalogs and e- Procurement projects.
Different taxonomy options:
- UNSPSC – United Nations Standard Products and Services Code
- FSC – Federal Supply Classification
Each system has its strengths and proper application to each company.