Need this back, it's a huge problem that there's no item rename functionality in Dynamics!!
There's also no good way to retire items (de-activate). Having to rely on "stopping" items in default order settings is not a good solution. There should be a category built into the released product which allows an item within a legal entity to be deactivated such that the item cannot be used going forward. This should carry through to all major places where an item can be used.