What is Marketplace Product Stock?
Marketplace product stock refers to the stocks assigned to the marketplace for selling to customers. The seller assigns the stocks to be sold in the marketplace as per their availability in the storage or seller area. The marketplace product stock is the lifeblood of any marketplace.
Importance of Marketplace Product Stock in E-commerce Shipping and Delivery
Marketplace product stocks allow sellers of the marketplace to provide the best services to the customers. Here is the primary benefit of the product marketplace:
- The products are either tangible or virtual goods that require delivery or can be downloaded from the marketplace.
- In certain cases, marketplace owners are expected to bear shipping fees for marketplace product stock on their own.
- A company’s marketplace product stock also requires efficient inventory management and support from multiple warehouses for each vendor selling on the marketplace.
Prerequisites for Marketplace Product Stock
The first step in effectively managing marketplace product stock is by inculcating efficient inventory management software or a well-structured and simple SKU system. These SKUs or Stock Keeping Units are usually customized based on the item, popularity, category, etc. Upon selecting a platform, make sure that the product stock is suited to the following capabilities:
- Quick search
- Ability to import the products in question
- Ability to manage an entire product catalog
- Ability to sort and filter products with the highest efficiency
- Ability to make additional product features for various product stock types
- Ability to set discounts and promotions
- Ability to determine pricing tiers, min and max order quantities, and to hide/show products depending on the customer.
Use Case With Marketplace Product Stock
A marketplace product stock can be physical or virtual goods that customers can download directly from the platforms. A seller can sell audiobooks, mobile and accessories, apparel etc, as marketplace products.