With "product versions", you can easily make a distinction between different colors, sizes, etc. of the same product, to more efficiently track inventory. This helps organize products in the Point of Sale, and also makes the shopping experience better for customers in your business's StoreFront.
Each version of a product will have the same "Parent-SKU", but its own "Child-SKU"---this marks it as a product version.
Tim's Bike Rental rents a Marin Globetrotter Hybrid Bike in several different sizes.
The Parent SKU for this product is 1022. Each version (size, in this case), will have it's own Child SKU.
Marin Globetrotter Hybrid Bike, Small: 1022-S
Marin Globetrotter Hybrid Bike, Medium: 1022-M
Marin Globetrotter Hybrid Bike, Large: 1022-L
Marin Globetrotter Hybrid Bike, Extra Large: 1022-XL
To set up product versions for your inventory, view the "How do I set up product versions in my inventory" article in Zendesk.