Frequently Asked Questions
Frequently Asked Questions

MyVerte Marketplace

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What is MyVerte?

MyVerte isn’t just another run-of-the-mill e-commerce marketplace. MyVerte is THE hub for brands. 

At Project Verte, we believe that every brand has a story. Brand stories are important because today’s consumers are more dialed in than ever before. They don’t just want to buy products. They want to buy products they love from brands whose mission they believe in.

That’s why the main goal of MyVerte is to give brands a space they can own, to highlight their unique missions alongside their products and prioritize what really matters––authentic connections with consumers.

 

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How do I control my inventory? Can I integrate my existing systems with MyVerte?

MyVerte offers brands complete control over their inventory. Through the MyVerte Seller Portal, brands can seamlessly connect with backend inventory management tools, such as Shopify, Magento, WooCommerce, and more to gain live updated inventory statuses in real time.

Simply open the MyVerte Seller Portal, enter the login information of your backend system, and within less than 2 minutes your information and inventory will automatically populate the Seller Portal.

The Seller Portal also allows brands to connect to multiple inventory sources, including warehouses and storefronts, as well as add new ones.

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Unique to MyVerte. Inventory syncing. What is it?

What really sets MyVerte’s inventory system apart for sellers is inventory syncinga system designed to streamline channel expansion

Typically, when a brand participates on a marketplace, they need to either allocate resources to that marketplace or hire a new person altogether. This is because if you’re a vendor and you claim a product is in stock when it’s actually not, you get penalized. So nowadays, many businesses have an in-house “Amazon Expert” or “E-commerce Specialist,” whose job is to stare at back-end marketplace tools while also watching Shopify’s inventory management all day to make sure that inventory is constantly in sync.

Being a DTC brand is hard enough as is, so at MyVerte, we want to give sellers the peace of mind to participate. Using the most advanced, Verte-patented blockchain technology available, all information is accurate and immutable while inventory is constantly monitored, managed, and synced in real-time. This means no surprise inventory shrinkage and the easiest inventory audits imaginable.

In practice, it means that if Sally has a brand selling heart-shaped purses on her own website (while running Shopify in the backend) and she also sells on MyVerte, she can sleep easy on Valentine’s Day (when heart-shaped purses sell more than any other day), knowing that she doesn't need to worry about MyVerte not updating to "out of stock” when her purses sell like hotcakes.

When MyVerte says something is in stock, it’s actually in stock.

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What else can MyVerte do for my brand?

MyVerte’s marketing tools are fully transparent, too. We automatically optimize SEO for every product, and we provide that information back to brands so that they can optimize their own personal domains as well. 

MyVerte is not just optimizing your presence on MyVerte but optimizing the entirety of your e-commerce presence

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Unbiased search? What’s that?

Our search functionality is also totally transparent and, most importantly, unbiased. When shopping on a marketplace like Amazon, even if you search with the term “Vitamins by Thorne,” Thorne being the name of a vitamin brand, your first search result won’t even necessarily be a Thorne product. This is because Amazon prioritizes whichever vitamin brand pays them the most.

With MyVerte’s unbiased search functionality a search for “Vitamins by Thorne” will lead a consumer directly to the Thorne MyVerte page (thorne.myverte.com). Once there, the consumer will have a Thorne brand-specific experience from entry through exit or checkout.

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How much will my brand’s participation on MyVerte cost me?

Best of all, MyVerte offers brands all of this functionality for a simple 5.75% fee per order (significantly less than other marketplaces like Amazon, which can run as high as 25%). There are no hidden charges, and everything is upfront––our 5.75% fee is all-inclusive.

There’s no doubt about it, MyVerte is the best place for brands to go when they’re aiming to set themselves apart from the competition and connect directly with consumers. After all, brands aren’t just about selling products––they’re about building communities. We’re the same way.

At Project Verte, we’re not just moving products. We’re building a movement.

Project Verte's OMS

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What is different about Project Verte’s OMS and its competitors?

The current status of the Supply Chain is far from efficient. Inventory loss is a rampant problem
in the industry, and the optimization of inventory across a network of fulfillment centers and
touch points across the supply chain are far from perfect.

That is why Project Verte has built its own OMS (order management system.) We thought, how
could we use the technology available to us to optimize the supply chain?

Project Verte’s OMS is built on proprietary blockchain technology and is powered by Machine
Learning.

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Why Blockchain?

For starters, there is no need for a central data center or server, because the ledger of
inventory and orders is stored in each distribution point. This means there is no need for
maintaining a server running 24/7 or a third party to provide computing and storage service.
Without the dependency on a third party, information is 100% protected and accurate. A
blockchain ledger cannot be altered or changed, meaning that all information on the blockchain
is uninfluenced and unbiased.

A big problem in the supply chain world is simply not knowing how much inventory you have. If
one were to ask any specific COO of a brand, “how many pieces of X do you have?” they’d give
you a general, educated guess, but never to the exact amount. This is why audits are so
common in the industry. A brand would hire a third-party auditor to visit the location of their
inventory and do a manual count (which is costly and time consuming.) This is the power of the
blockchain. If information is immutable, the need for auditors is a thing of the past.

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Machine Learning?

We experience machine learning every day, you might just not notice it immediately. The ads
that pop up in your social media, self-driving cars, auto filled emails. These daily things you
experience all use machine learning.

With machine learning, algorithms can be customized to uniquely fit your business. This can be
used to improve inventory optimization, particularly in businesses with multiple distribution
locations. These models can be adjusted to take into account independent variables that may
delay product delivery or cost. In terms of factors affecting inventory management, using
machine learning to optimize inventory space is a more efficient way of managing stock.

Most businesses heavily rely on guessing to assess how much stock will be required in the near
future. Using machine learning technology, predictions can be made by continuously using data
to adjust forecasts to suit businesses and take into account more factors than typical forecasts.
Machine learning can be used to reduce transport and warehousing costs by reducing inventory
to a lean but comfortable level, and can predict demand in the near future, allowing for stock to
be purchased in time for sales.

Predictions to calculate how much stock to carry are often unpredictable when solely relying on
outdated tracking models. Excess and idle stock essentially act as tied-up money that could be
put to better use. Idle inventory is also highly likely to get damaged or be outdated by new
stock. Shrinking stock levels requires accurate predictions of future demand, which is becoming
more accessible due to machine learning technology. By using current data, inventory
mismanagement can be reduced to ensure optimal business performance.