Definition: The 'Classification of Goods' in IT refers to the systematic categorization of goods or services based on their characteristics, usage, or relatedness. This is a critical concept in IT, particularly in e-commerce platforms, inventory management systems, and supply chain management software. Source: Investopedia Source reference: https://www.investopedia.com/terms/c/classification.asp Additional information: The Classification of Goods in IT is a crucial concept that aids in the organization and management of goods or services in a systematic manner. It involves categorizing goods or services based on various factors such as their nature, usage, or relatedness. This classification is essential in various IT applications such as e-commerce platforms where goods are classified into different categories for easy navigation and search. Similarly, in inventory management systems, goods are classified based on their type, usage, or other characteristics to manage the inventory effectively. Moreover, in supply chain management software, goods are classified to streamline the supply chain processes and ensure efficient management of goods from the point of origin to the point of consumption. Example: 1. In an e-commerce platform like Amazon, goods are classified into various categories such as electronics, clothing, books, etc. This helps users to easily navigate and find the products they are looking for. 2. In an inventory management system, goods can be classified based on their type (raw materials, work-in-progress, finished goods), usage (regular, seasonal), or other characteristics (perishable, non-perishable). This helps in effective inventory management and control. 3. In a supply chain management software, goods can be classified based on their point of origin, transit location, and point of consumption. This helps in streamlining the supply chain processes and ensuring efficient management of goods. LOST view: OV-Customs Functional Architecture Principles Identifier: http://data.europa.eu/dr8/egovera/ClassificationOfGoodsBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:ClassificationOfGoodsBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-08-08 dct:identifier: http://data.europa.eu/dr8/egovera/ClassificationOfGoodsBusinessService dct:title: Classification of goods Digital Public Service