I have submitted an idea on SAP Idea Incubator on custom Stock In Transit Report :
The main idea behind the report is to help the purchasing managers get a detailed view of the status of stock in transit in a way which will be useful to them. The current SAP function MB5T does not provide key information to buyers as they need it. The report will help the buyers know exactly in what status their order is currently. There can be more functionality built in to the report.
If some one is interested in developing this idea, I will be more than happy to provide him with more inputs.
Here is the link with more details of the idea.
Eagerly awaiting your feedback.