In today's world multinational companies spend a lot of their precious time trying to get things organized in an orderly manner, thus losing a lot of time and money which may at times cost millions of dollars. If today's companies invest a little of this money in planning, organizing and classifying their methodologies they could double their profits.

"Product Classification": A product is basically a single item or unit which can be classified as goods, services and ideas. "Goods" means something that is heard, seen, felt, tasted or smelt. A service is an offering to the customer through the work of someone else. An idea is a concept wherein the marketer tries to change the perception or behavior of the customer. A lot of companies mainly deal with Consumer products which can further be classified into convenience products, specialty products, shopping products, emergency products and unsought products.

Companies can use the skills of their employees for various purposes like surveying the current trends of the market, marketing and promotion of products, distribution of products etc. At a lower level of the company, employees can be made to perform jobs like labeling, packaging, etc. This makes the working of the company very efficient since employees at the higher level do not have to bother about these things. This helps in running the company efficiently