What does FSC mean in STOCK EXCHANGE
Federal Stock Classification (FSC) is a category of items used by the U.S. Government. It is a four-digit coding system that identifies supplies, services, and technology purchased by the federal government. FSC is civilian-specific and comprises over 60,000 line items among 11 groups.
FSC meaning in Stock Exchange in Business
FSC mostly used in an acronym Stock Exchange in Category Business that means Federal Stock Classification
Shorthand: FSC,
Full Form: Federal Stock Classification
For more information of "Federal Stock Classification", see the section below.
Essential Questions and Answers on Federal Stock Classification in "BUSINESS»STOCKEXCHANGE"
What is the purpose of FSC?
The purpose of FSC is to provide the government with an efficient way to categorize and track items they purchase from vendors. This makes it easier to manage inventory and identify potential cost-saving measures.
Is FSC military or civilian specific?
FSC is civilian-specific and does not include any military specific codes.
How many line items does FSC have?
FSC has over 60,000 line items across 11 groups.
Are there different levels of classification for each item in FSC?
Yes, each item in FSC has an individual four-digit code that identifies its group, class, subclass, and item within the system.
What are the 11 groups within FSC?
The 11 groups in FSC are Major Groups, Minor Groups, Federal Supply Classes (FSC), Item Names, Item Characteristics/Specifications/Requirements, Unit/Packaging Presentations/Basic Unit Packages (BUPs), Sources of Supply (SOSs), Related Identification Numbers (RINs), Export Control Classification Numbers (ECCNs), National Codification Bureau Organization Codes (NCB OCodes) and Manufacturer's Part Numbers (MPNs).
Final Words:
The Federal Stock Classification system provides a convenient way for the government to categorize their purchased products into distinct categories for better inventory management and cost savings measures. This helps ensure that all necessary purchases can be quickly tracked with accuracy.
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