The stock labels option prints labels for each partnumber and the location labels option produces labels you can use to label your stores.  

Select the range of items required, then the number of labels per item, then the start label position.  Press the add button to add labels to your list, then when you've added all the labels, press the create button:

The labels can be printed on 8 or 14 labels per A4 sheet.

A PDF of the labels will be created by Herschel.  This should be printed out actual size: