Product
...
Good Nomenclature System
A good nomenclature system is a structured and consistent method of naming that ensures clarity, precision, and universality across a specific domain of knowledge or practice.
🗂️ List of Goods Classification Systems
| Classification System | Code Format | Description | Typical Use |
|---|---|---|---|
| NAICS (North American Industry Classification System) | 6-digit code | Classifies business establishments based on their primary economic activity. | Used in the US, Canada, and Mexico for statistical analysis, business regulation, and economic reporting. |
| SIC (Standard Industrial Classification) | 4-digit code | Categorizes industries by their primary activities. | The older system was used for industry classification in the US before NAICS. |
| HS Code (Harmonized System Code) | 6-digit base, with optional additional digits | Identifies international trade commodities and products. | Used globally for customs tariffs, trade statistics, and regulatory requirements. |
| UNSPSC (United Nations Standard Products and Services Code) | 8-digit code | Classifies products and services in a hierarchical structure. | Used for procurement, e-commerce, and supply chain management. |
| CPC (Central Product Classification) | 8-digit code | Classifies products and services according to their function. | Used by the UN for economic analysis and statistics. |
| NAICS Codes for Products | 6-digit code | Specific NAICS codes for products rather than industries. | Helps categorize products for trade, reporting, and analysis. |
| SIC Codes for Products | 4-digit code | Specific SIC codes for products rather than sectors. | Used for product-specific data collection and analysis. |
| NACE (Nomenclature of Economic Activities) | 4-digit code | European system for classifying economic activities. | Used in the EU for economic analysis, policy making, and business regulation. |
| ISO 20400 (Sustainable Procurement Standard) | Variable format | Codes related to sustainable and responsible procurement. | Used to guide and standardize sustainable procurement practices. |
HS Code (Harmonized System Code)
The HS Code (Harmonized System Code) is an internationally standardized system for classifying traded products, enabling consistent categorization of goods for customs, tariffs, and trade statistics across countries.
Structure
| Level | Digits | Description | Example |
|---|---|---|---|
| Chapter | 2 digits | Broad product category | 01 - Live Animals |
| Heading | 4 digits | More specific categorization | 01.0101: Live horses, asses, mules, and hinnies. |
| Subheading | 6 digits | Further breakdown within the heading | 01.0101.21: Purebred breeding horses (subheading) |
| Country-specific (National Classification) | 8 or 10 digits | Further detailed classification specific to a country | … |