Storage type is created in warehouse management which contain more than one storage bin in sap. Its predefined by sap and are called interim storage locations. You can create storage types by using following path;
SPRO > Logistics Execution > Warehouse Management > Master Data > Define storage type
You can define n number of storage types defined in a warehouse. But we request you to define as per your business process.
How to define storage bin in warehouse management
Storage bin is a sub division of the storage location and also called storage section. You must define one storage section or bin per storage type in sap warehouse management module.
To create storage bin or section use path;
SPRO > Logistics Execution > Warehouse Management > Master Data > Define Storage Section
You can create storage bin either manually or automatically. To create it manually you use transaction code LS01N or LS10 for creating it automatically.