An automated vending or merchandizing machine includes an elevator sub-assembly which moves a dispensing bin or elevator tray vertically along the fronts of plural vertical levels of product dispensers in the vending machine. A controller tracks the vertical position of the elevator tray. This allows the controller to send the elevator tray to the vertical level of the dispenser of the product selected by a customer, at that level receive and confirm dispensing of the selected product into the elevator tray, and return the elevator tray holding the dispensed product down to a customer delivery or access door or opening in the vending machine that can below the vertical levels of dispensers. Features can include coordination of locking and unlocking of a customer access door and actuating an anti-cheat security baffle with the position of the elevator tray.