Classification systems provide a great deal of information about the characteristics and exchange of product data. These systems consequently provide a consistent and clear description of products and this results in more clarity and structure within the product data.
By using abbreviations, classification systems can therefore act as a shorthand method for describing various initiatives, associations and federations with different origins and interests. They work towards optimising the technical processing aspect of product information from different suppliers. This is done by standardising data structures and content.
Product Classification systems are also used to provide:
* Product configurators
* eCommerce solutions
* digital platforms by creating uniform product data
Benefits of classification standards include:
* Electronic catalogues make it easier to find products.
* Significant cost savings can be achieved by streamlining purchasing, inventory management, and distribution.
* Up-to-date and clean product data across the supply chain. Leading to higher quality and less errors.
* Improved ROI and performance
* Makes strategic decision making easier for customers and partners
Some of the most popular classification standards or systems include:
The Electrotechnical Information Model is used for the standardised, electronic exchange of product data in electrical engineering and related industries. This makes it easier for wholesalers to render standardized data into sales-driving content.
ECLASS is a data standard for classifying products and services. It allows product master data to be exchanged digitally across industries and organisations, countries, and languages. Therefore ECLASS helps businesses optimize their inventory levels, avoid incorrect purchases and creating transparency between you and your clients.
GPCs focus lies in the retail sector (Clothing, Food and Consumer Packaged Goods). GPC helps their partners group their products consistently on a global level. This makes global trading easier and more cost effective for businesses.
USNPSC also known as the “United Nations Standard Products and Services Code” focuses on merchandise management. The standard offers the possibility to assign all products and services. The “IDEA Electrical Attribute Schema” can also be used to standardise characteristics to a limited extent. This makes it easier for businesses to manage their marketing, sales and procurement
To find out more about Classification Standards and AICAs role in optimizing your businesses data systems visit our website https://aicadata.com