I was hoping to get some of your expertise on this issue.
I have a Taxonomy called Organisation Names. In each Organisation name entry, there is an sub-field called Org Code. It looks something like this
Org Name: Melbourne Drupal Fanclub (this taxonomy term is selected in the content type)
--- Org Code: MEL-001 (this is a subfield of the taxonomy term)
When users are creating page, they are selecting the organisation name which is taken from the taxonomy called orgnisation name. They don't need to reference the Organisation Code.