What is United Nations Standard Products and Services Code in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: United Nations Standard Products and Services Code

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: A global classification system for products and services jointly developed by the United Nations Development Programme UNDP and Dun & Bradstreet Corporation D & B.

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• Key Concepts: 
  The United Nations Standard Products and Services Code (UNSPSC) is a global standard for classifying products and services. It is used by organizations to categorize their products and services for procurement purposes. The UNSPSC is divided into four levels: Segment, Family, Class, and Commodity. The Component PSM-GPR Procurement for Public Sector is a specific code within the UNSPSC that is used to identify goods and services related to public sector procurement. 
  
  How to use it: 
  Organizations can use the UNSPSC to classify their products and services for procurement purposes. The Component PSM-GPR Procurement for Public Sector can be used to identify goods and services related to public sector procurement. This code can be used in conjunction with other codes in the UNSPSC to further refine the classification of products and services. 
  
  Tips & Tricks: 
  When using the UNSPSC, it is important to ensure that the correct codes are used for each product or service. This will ensure that the product or service is accurately classified and can be easily identified by potential buyers. Additionally, it is important to keep the codes up-to-date as new products and services are added or existing ones are modified. 
  
  Related Information: 
  The UNSPSC is managed by GS1, a global standards organization. For more information about the UNSPSC, please visit their website at https://www.gs1.org/standards/unspsc. Additionally, SAP provides a comprehensive guide on how to use the UNSPSC in their software at https://help.sap.com/doc/saphelp_erp60_sp/6.0/en-US/f3/e7f9a8d2b3c14b8e9f7a7d2c9f5d6b/content.htm?no_cache=true