Product classification

{{Short description|Classification of goods and services}}

Product classification or product taxonomy is a type of economic taxonomy which organizes products for a variety of purposes. However, not only products can be referred to in a standardized way but also sales practices in form of the “Incoterms” and industries can be classified into categories.{{cite web | url = https://intrepidsourcing.com/trade-wiki/classifications-how-to-distinguish-between-products/ | title = Product Classification: Categorization & Classifying of Products}}

Some standard product classifications include:

• CPA — Classification of Products by Activity, a product nomenclature that was used in the European Economic Community and now in use in the EU, a European version of the CPC
• CPA 1996[http://ec.europa.eu/eurostat/en/web/products-manuals-and-guidelines/-/CA-14-98-114 CPA 1996 - Statistical classification of products by activity in the European Economic Community // Eurostat]
• CPA 2002
• CPA 2008[http://ec.europa.eu/eurostat/ramon/nomenclatures/index.cfm?TargetUrl=DSP_GEN_DESC_VIEW_NOHDR&StrNom=CPA_2008&StrLanguageCode=EN Statistical classification of products by activity in the European Economic Community, 2008 version]
• CPA 2.1[http://ec.europa.eu/eurostat/ramon/nomenclatures/index.cfm?TargetUrl=DSP_GEN_DESC_VIEW_NOHDR&StrNom=CPA_2_1&StrLanguageCode=EN Statistical Classification of Products by Activity, Version 2.1]
• CPC — Central Product Classification, a United Nations standard classification for products
• ETIM, the ETIM Technical Information Model
• Global Classification and Harmonized Schedule Numbers for customs classification
• HS — Harmonized Commodity Description and Coding System
• SITC — Standard International Trade Classification
• Trade in Services
• UNSPSC, the United Nations Standard Products and Services Code
• IEC Common Data Dictionary (IEC CDD), a product classification and product description based on international standards and defined by the International Electrotechnical Commission
• eCl@ss, a global and ISO/IEC-conform system for classification and description of products and services, maintained by the non-governmental eCl@ss e.V. association