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Quantity Items
Quantity items are useful for the types of things you want to keep track of whether a certain amount of something is available, instead of its individual status.
A good use of a quantity item would be cables. You might not want to keep track of individual cables, but you do want to know if there is a certain number of them available.
Let's say you have a total of 10 XLR cables available for checkout. These cables are basically identical to one another. You don't care which specific cables are checked out. You don't have the serial number for every cable. But you want to make sure someone doesn't check out more cables than are available. If one user wants to check out 3 cables for a project, someone else would only be able to check out 7 XLR cables during that time period. Once all the cables are reserved for that time period, no one else will have access to them during that time.