To: ztect who wrote (4124 ) 5/15/1998 5:16:00 AM From: ztect Respond to of 8242
THIS IS AWESOME...........BABY!!! ÿThe Product Code Guide There are 3 basic Product code and Classification systems, the U.S. Standard Industrial Classification (SIC) system, the North American Industry Classification (NAICS) System and the Harmonized Commodity Based International (HS) System. On April 9, 1997, the U.S. Office of Management and Budget (OMB) announced the adoption of a new industry classification replacing the Standard Industrial Classifications (SIC), a system used to classify most of the data we have about industries or kinds of business in our economy. The updating of industry classifications is nothing new. Since its origination in the 1930s, the SIC system has been revised or updated every 10 or 15 years to reflect new developments in the American economy and to address problems identified by data users and statistical agencies. The most recent change to the SIC system occurred in 1987. That revision identified a number of new high tech industries, tripled the number of classifications within computer-related services, and gave us our first industry categories for computer and software stores, video tape rental stores, and manufacturers of plastic bottles. Nonetheless, the 1987 revision left three quarters of all industries unchanged, and left the broad structure and hierarchy intact, including such basic sector groupings as manufacturing, retail trade, services, and construction. The objectives for the 1997 revision were much broader. Not only was the system to identify new industries, but the process also sought to reorganize the system according to a more consistent economic principle--according to types of production activities performed--rather than the mixture of production-based and market-based categories in the SIC. That reorganization would allow for the presentation of more detail for the rapidly expanding service sector that accounts for most economic activity but only 40 percent of SIC categories. Further, the system was redefined jointly with Canada and Mexico so that comparable statistics could be obtained for the three NAFTA trading partners. Thus we now have the the North American Industry Classification System (NAICS). The definitive US NAICS manual will be published in the spring of 1998. North American Industry Classification System--United States, 1997 will include definitions for each industry, tables showing correspondence between 1997 NAICS and 1987 SICs, and a comprehensive index. Ordering information for the printed NAICS manual and for electronic counterparts will be presented here as soon as information is available. The Harmonized Commodity Based International System is intended for use as a means to document customs, tariff, statistical, and transport activities. The system is divided into 21 sections covering specific groups of goods and was designed so that individual countries could make additions to it which the United States has done by adding a 22nd section and Chapters 98 and 99. The International Price Program uses the Harmonized System to sample the export and import universe as well as for the weighting and collection of its price data. The Harmonized System is compatible with other classification systems and is also familiar to reporters who provide export and import price data. Although the Harmonized system provides homogenous groups at the item level of aggregation, the aggregations are not natural at the highest level consisting of two digit categories for over 90 major groupings. The Harmonized System also has a limited historical value since it was not formally adopted by the United States until January, 1989. The Product Code Lists SIC List HS List The NAICS is coming shortly [from webpage...visit the site, hit the links, DO NOT judge a book by its cover! Plus check out all the BABES (still in silhouette !)]. ztect btw- is that Glenn in the middle?