Procurement Model for Marketplace
Procurement model is the process in which the marketplace which was earlier acting as only a facilitator between the seller & the buyer is now 1st procuring/acquiring the goods from the seller’s and then are selling them to the buyer.
With the procurement model, the marketplace 1st purchases the products from the seller and then further sells the products to the buyer with their own invoices.
Procurement of products by marketplace
Once the product sourcing is finalised, the marketplace procures/purchases the selected products from the seller and then those products are uploaded on the website on the name of a different entity as set-up by the marketplace.
As a buyer comes to purchase a product, he creates an order against that product for which an intimation is sent to the marketplace. The marketplace then procures the product from the seller and delivers the product to the buyer with new invoices on their own name.
No seller details are shared with the buyer.
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