Product Creation with WC Vendors Free Version
You can use BuddyForms to create forms for any product type. You can integrate this forms into the BuddyPress Member Profile or the Vendors Dashboard.
Just create a Product Form and select the integration in the Form Settings
Product Creation with WC Vendors Pro Version
The pro version of WC Vendors comes with its own product creation system. Please read the WC Vendors Documentation.
For easy Product Forms it works well. For more complex Product forms with different post meta fields and integrations or to create Multiple Product Forms for the different Product Types you need BuddyForms.
WC Vendors ProTip: Deactivate Product Tab in Vendor Dashboard
You can deactivate the product tab and use the BuddyForms Members extension to separate the product tab from the vendors dashboard. If you make the product tab a main nav item it is great for showing all vendor products in the profile. Normal profile visitors can see the vendor products. The vendor can create and edit his products.