Sounds like automatically categorize product description into its respective category (multi-class text classification problem). 300 classes sound too many, you may want to consolidate, or if the classes are imbalanced, you may want to take care of some more important classes first. Do you have other features, such as price or date time features, you may want to use them too.

Changing the world, one post at a time. Sr Data Scientist, Toronto Canada. https://www.linkedin.com/in/susanli/