A comprehensive material master Data Classification system will lead to benefits in different areas, one of which is improved spend analytics. Most executives struggle with gaining insights into inefficient purchases, and root cause analysis usually points to poor data classification and analytics. The most popular product classification systems are UNSPSC Classification, eCl@ss, ETIM, MESC, etc., A well-classified materials database will enhance analytics, enabling you to derive supplier intelligence, identify cost-reducing areas, and gain insights into inventory movements, among other benefits.
The most popular product classification systems are UNSPSC, eCl@ss, ETIM, MESC, etc., and we have extensive experience selecting and implementing the right system based on client requirements. We have the skills and tools necessary to efficiently classify materials and suppliers in a client’s master database using the master data classification system of their choice. In addition, we assist our clients in developing custom classification systems, in order to meet specific needs not covered by standard classification schemas.
Furthermore, we assist clients with implementing multiple classification systems or mapping items across classifications such as eCl@ss to UNSPSC or the other way around.
Over the years, Enventure has mapped millions of SKUs and line items to the UNSPSC classification system. Companies across the globe have adopted UNSPSC Code (United Nations Standard Products and Services Code) as a preferred classification standard, especially when the goal is to support inventory optimization and spend analytics.
We offer cross-referencing services, allowing you to map UNSPSC codes to other industry classification standards such as eCl@ss or eOTD, or vice versa.
We help manufacturers and distributors comply with the eCl@ss standard through electronic cataloging services. In addition, we provide a mapping of other classification systems, such as UNSPSC, to eCl@ss, for clients who are migrating from other taxonomies to eCl@ss.
With a deep understanding of the eCl@ss standard, our team spends time getting to know each client’s product categories and effectively implement the eCl@ss standard.
It is quite common for companies to request a mapping from UNSPSC to eCl@ss, or vice versa, since these two taxonomies are quite popular across industries. Managing and integrating product data efficiently and effectively across a broader range of companies in an upstream or downstream supply chain is possible when classifications are mapped accurately. Identifying the correct class for the material is essential in UNSPSC to eClass mapping, which is often done incorrectly by automated methods. It is crucial to analyze each material group intelligently before mapping to either classification system, to identify common description segments and patterns for synonymy.
Improved spend analytics capabilities which leads to insights into purchase inefficiencies.
We have the skills and tools to efficiently upgrade a client’s master database to classify materials and suppliers based on the selected classification system. We also help develop custom classification systems.
Yes, Multiple classification systems and tailor-made classification systems are available apart from the well-known classification systems like UNSPSC, eCl@ss, ETIM, MESC, etc. Read more on related topics: