Within the inventory module is it possible to create a multi layered subinventory hierarchy?

Hi, Within the inventory module is it possible to create a multi layered subinventory hierarchy?  Within Inventory module i can only see all sub inventories existing as a flat structure underneath your inventory organization.

I have attached a document to visually demonstrate that our business would like a multi layered sub inventory hierarchy with subinventories below subinventories.  We would be operating a discrete inventory setup, holding finished items we purchase from suppliers.  We would not be manufacturing any items from raw materials.

E.g.
We receive all finished items into our central subinventory.  These are the distributed to regional subinventories, who in turn would send them onto department specific subinventories.  My diagram will hopefully show this description more clearly?