While the general idea lingers and we've even implemented some of it in some parts of a few custom modules, we found it's very difficult to achieve generalization that would suit everyone.
We're working on warehouse module for a while now and it is also meant to supply with such functionality, but we can't really give estimate when such feature will be ready.
For simple sets, like renting books or other assets, we recommend creating custom module. It's not really that much work and having custom solution allows you to customize all fields and options to perfectly suit your needs.
Kind regards,
Arek
