Find and Replace Option

Curious if there is a "find and replace" option somewhere? If not, I think it would be useful for things like items/materials. I had a situation where I wanted to update 100's of items after I figured out a new formula. I found out you can mass rename items in my search to change all those materials. I'm looking for something similar that Estimate (B2W) has. Where you can select something in your bid and replace it with something else currently in your bid our from the database.