LVK charges for product storage once items have been received. The Storage Report allows you to see — day by day — the physical inventory in stock at our warehouse locations (all locations: sellable and non-sellable) and how many Bins & Pallets are occupied.
The Bins & Pallets Storage Report lists all physical SKUs by warehouse and date. For each SKU, the report shows:
- Total Units: The total number of physical units.
- Units in Pallets: The total number of physical units in pallets.
- Virtual Pallets: The quantity of pallets occupied by those units.
- Units in Bins: The total number of physical units in bins.
- Virtual Bins: The quantity of bins occupied by those units.
- Total Volume in Bins (Cubic Feet): The cubic volume those units represent.
Bins & Pallets Storage Fee Calculation
After the daily shipment cut-off, LVK calculates storage costs for only the remaining products in stock — meaning you are not charged for products that shipped throughout the day.
To calculate storage, LVK considers the following:
- For Bins: Each bin in our warehouse can hold up to 1.5 cubic feet of product. The number of bins is calculated by dividing the total cubic feet of a product by 1.5, rounded up.
- For Pallets: If the cubic volume on a pallet is 1.5 cubic feet or less, it is charged at the bin rate. If it exceeds 1.5 cubic feet, it is charged at the pallet rate.
How Do I Calculate My Daily Storage Charge?
The total daily storage charge is calculated by adding the bin and pallet charges, each multiplied by its corresponding fee. Once you have exported the report, use the table below to match the charges applied.
| Metric | Calculation |
|---|---|
| Total Daily Storage Charge | Total Daily Pallet Charge + Total Daily Bins Charge |
| Total Daily Pallet Charge | Total Pallets × Total Monthly Pallet Fee 30 days |
| Total Daily Bins Charge | Total Bins × Total Monthly Bin Fee 30 days |
| Total Pallets | Total of virtual pallets |
| Total Bins | Total Volume in Bins (Cubic Feet) 1.50 |