Effective March 1st, 2021, the Monthly Storage Fee (MSF) will be applicable to all your sellable stocks stored in noon Fulfillment centers, and available for sale as FBN (Fulfilled by noon). Read the below details to get a complete understanding of how it works.
What’s the Monthly Storage Fee (MSF)?
It is a charge applicable to each of your FBN SKUs, “Live” and “Not Live”, and with a quantity equal or greater than 5 units ( ≥ 5 units). For example; if you have 5 units of small bottles of water stored at noon, the MSF will apply; if the quantity is below 5 units, the MSF won’t apply.
The MSF is independent of the Long-Term Storage Fee (LTS), which only applies to aging stocks. Therefore, if you have stocks that have been stored in our fulfilment centers for 180 days or more, both the MSF & LTS will apply.
How is the MSF calculated?
The quantity of each SKU is recorded on a daily basis, and the total charge will be deducted on a monthly basis accordingly, on the 21st of each month.
For instance, the standard MSF of grocery items is AED 0.1 per month, and per unit. If the 5 units of the water bottle remain in stock for a month, the MFS will be calculated as follows:
- First, calculate the daily charge per item: AED 0.1/ 30 days = AED 0.0033
- Then, the total monthly charge of the 5 units: AED 0.0033 x 5 (units) x 30 (days) = 0.5 AED
You can check the Monthly Storage fees that will be applied on your account from your Monthly Storage Fees Report.
On Intel, click Custom Reports
Select Monthly Storage Fees
Then click Generate report
At the monthly stock closure, the charge date and the calculation of the MSF, will be recorded in this report.
You can check on Seller Lab your daily stock quantities eligible for a charge in the “Monthly Storage Fee Eligible Sellable stock” report.
On Intel, click Custom Reports
Select Monthly Storage Fees Eligible saleable stock
Then click Generate report
At the daily stock closing time, the daily stock quantities, both "Live" and "Not Live" eligible for the MSF, will be recorded in this report.
Recommended practices to optimize your stock management?
Review your stock stored in our fulfillment centers regularly to identify slow-moving SKUs so that you can either reduce the quantities or entirely remove them.
Withdraw your items anytime by sending us a RTV request at seller@noon.com and depending on your stock transfer preference, your items will be available for delivery or collection from our fulfillment center within 15 days from the placement of your request as per the RTV policy for FBN (click here to access the policy). The MSF won’t apply after the 15th day, if for any reason we were unable to prepare your items within said timeline.