Product dynamic custom field

I would love to see a dynamic custom field where we could define an string of data into an entry. One of the use cases here are for device naming of AV over IP devices where the string could be LOCATION.Encoder.Lectern. Think the same principle as with Component ID Where we can generate a string containing both dynamic data and fixed text, separators etc. THere could be one or more of these custom fields available for creation. Other custom fields for the same device should be available data sources in this string setup.