Automatically set up items to become preorder sales when out of stock

[grfarm]

Is there a way to set certain items up so that they can still  be purchased online when they are out of stock. For example we have books, if the book sells out of instock copies can we set up to take orders with a 1 week fulfillment delay or something of that nature while stock is updated? Being able to do this or have a previously requested feature "Email when in stock" would help with inventory planning and reduce lost sales. 

[SamuelDesgagne1]

I agree with that. For now i'm not tracking the inventory. So, often, client buy products that i don't have on hands and there's no way for them, but me emailing them after they order, that it's going to be a bit longer. Should have like amazon like a "usually ship in 3 to 5 days" when out of stock or a pre order thing as you said.