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Every stock transaction in the system belongs to a Location. Stock Management is by Location.

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When we set up an Item we don't usually allocate it to a Location straight away as you may be unsure which location will have that Stock Item. The first time we have transactional data for an Item we will specify a Location and this will automatically update the StockLocation table. Each stock item can reside in any number of Locations.
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Bins

Bins are not preset but are freeform at the time of Data entry. They are attached to a Location so the Location must already exist. The first time you use a Bin it adds to a list which will be part of the dropdown for that Location in the future. This can be updated at time of Item maintenance or at time of transactional entry.