What is MarketPlace?
In general terms a MarketPlace is ‘an open space where a market is/ was formerly held.’ It means that a space with relation between sellers and customers. There are several sellers selling goods to several customers.
An online MarketPlace (or online e-commerce marketplace) is a type of e-commerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the MarketPlace operator. Online marketplaces are the primary type of multi channel e-commerce.
In an online marketplace, consumer transactions are processed by the MarketPlace operator and then delivered and fulfilled by the participating retailers or wholesalers (often called drop shipping). Other capabilities might include auctioning (forward or reverse), catalogs, ordering, wanted advertisement, trading exchange functionality and capabilities like RFQ, RFI or RFP.
In general, because marketplaces aggregate products from a wide array of providers, selection is usually more wide, availability is higher, and prices are more competitive than in vendor-specific online retail stores.
Examples of online marketplaces are Amazon.com, etsy, eBay, Snapdeal, Flipkart, Kaymu, Rakuten, and NASDAQ.
MarketPlace extension for Magento is developed for simply converting a simple Magento store to a MarketPlace with lots of features to customers, sellers and store owner. Any customer can register as a seller and can enjoy the features of a seller as well as customer of the store.
The seller sells products on the store and in return the store owner gets a commission by percentage from the total sale made by the seller. The commission percentage that the store owner gets can be modified and the store owner can set percentage to any desired value.
The Knowband MarketPlace Extension is necessary to be installed on the system for using this MarketPlace Addon.
Magento MarketPlace Low Stock Alert Addon
This module is basically for the sellers on Magento MarketPlace to let them know about the decreasing stock of their products. In this module the admin can set a specific quantity of the products and if any of his products got below this mark then the particular seller will receive an alert mail regarding the lowering of the product.
The admin can also set a cron which will send a mail to the seller as soon as the stock of any of the products is down or as soon as an order is placed making the stock of that product less from the given low stock quantity.
Follow the following steps for installing Magento MarketPlace Low Stock Alert Addon
1. Download the Addon package.
2. Unzip the package on your root folder of Magento setup via FTP manager (like Filezilla or WinSCP – download here: https://filezilla-project.org/).
3. In Admin Panel under the Menu “Market Place” next to System menu, you will see a new menu option “Low Stock Notification”. In case you are not able to see the link under System, please clear Magento Cache first then check again.
4. With this the extension gets installed on your system.
This module will be accessible through Admin account only.
Admin Account Interfaces
This is the interface which will be accessible only through seller account section.
After installation, a menu will be displayed to the admin as shown in below screen:
On clicking the highlighted link, system will redirect admin to his low stock alert configurations page.
Low Stock Alert Configuration
Here all the settings of the modules are mentioned. These are explained below:
1. Enable/Disable : The module will only work if this field is set to enabled. If this module is disabled then the module does not work.
2. Low Inventory Limit : In this field the admin will set the low stock quantity. If the quantity of any of the products of the seller goes below this value then the seller will receive an email after the order is placed or when the cron works.
3. When to Notify : There are two options. If “Cron Job” is enabled then the cron set up by the admin works and if “On Order Place” field is enabled then the seller will receive the mails when an order is being placed by a customer.
4. Notification Email : This is the email of the seller in which the seller will receive the low stock alert mails.
Module Work Flow
When the admin will enable the module and set the low stock quantity then after every order is placed for the products of the seller, The seller will receive an alert email if the quantity of the product is now lower then the low stock quantity set by the seller.
The seller may also receive email according to the cron set up by the admin on his server but if the admin has disabled the cron settings from his interface then he wont receive any of the emails which will be generated from the cron.
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