An Ensemble-based approach for assigning text to correct Harmonized system code
This addresses the need for industries to comply with government regulations in product classification, though it appears incremental as it combines existing methods like BERT and NER.
The paper tackled the problem of automatically classifying product text descriptions into Harmonized System (HS) codes for international trade duties, using an ensemble model that achieved scalability, coverage, and automation.
Industries must follow government rules and regulations around the world to classify products when assessing duties and taxes for international shipment. Harmonized System (HS) is the most standardized numerical method of classifying traded products among industry classification systems. A hierarchical ensemble model comprising of Bert-transformer, NER, distance-based approaches, and knowledge-graphs have been developed to address scalability, coverage, ability to capture nuances, automation and auditing requirements when classifying unknown text-descriptions as per HS method.