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SAN DIEGO - February 15, 2006 – The
company announced today the release
of a new expanded set of commodity codes,
a popular data element within its product
and pricing service, which helps distributors
organize their product inventory into
common groups of items.
This enhancement is
in response to a growing industry demand
for increased granularity (breakdowns
under major headings) within the Trade
Service electrical commodity code hierarchy.
This revision supports a distributor’s
need to more closely align product categories
with their respective pricing groups
as well as offer on-line customers a
more precise path to locate a specific
item in their Internet catalog.
The commodity code was
originally designed to sort groups of
like items across manufacturers to help
distributors perform various types of
analysis or reporting, such as “profit
by product category”, etc. Today, distributors
use these codes to organize their items
into the same or similar pricing groups
as used by their manufacturers allowing
them to set up customer discounts by
product category. For example, a distributor
can give a customer a percentage discount
off all “limit switches” he buys, given
his purchasing volume of this product
category. Now, with the newly enhanced
commodity codes, the distributor can
set up one discount for "limit
switches", and additional special
discounts which distinguish between
general, medium, heavy, and severe duty
limit switches.
In another use model,
distributors who host Internet storefronts
need an effective category tree structure
that gives their customers the ability
to “drill down” to a specific item in
their catalog. The additional granularity
afforded by the enhanced commodity codes
now makes it possible for distributors
to further refine this process and substantially
improve searching results.
“We plan to gradually
implement this new structure over the
next 12 to 18 months, through our regular
database updating activity,” states
Mike Podoris, Product Manager for the
Trade Service database. “We believe
this new structure will be well-received
by our customers as it will provide
a significantly wider range of commodity
code usage within their business applications."
About Trade Service
Trade Service Corporation is the leading
provider of standardized product and
price information to the electrical,
plumbing/PVF, HVACR, industrial MRO,
and office products industries. Since
1931, the company has been the leader
in content acquisition, aggregation,
management, publishing, and distribution,
offering a variety of products, services,
and systems to meet the content needs
of over 20,000 distributors, contractors,
government agencies and “buy side” Fortune
1000 subscribers. The range of solutions
provided includes printed directories,
electronic catalogs, pricing data for
business system updating, and robust
attributed content to fuel full-functioning
Internet storefronts. For more information,
visit www.tradeservice.com.
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